Elizabeth Arden Shares Down 11% After Reporting Negative Earnings

Shares of Elizabeth Arden

are down nearly 11% after the company reported negative earnings this morning. For the quarter ended December 31, 2011, the Company reported net sales of $429.9 million, an increase of 6.0%, as compared to the second quarter of the prior fiscal year. Excluding the favorable impact of foreign currency translation, net sales increased by 5.8%. Net income per diluted share for the quarter ended December 31, 2011, was $1.42, as compared to net income per diluted share of $1.19 for the prior year period. For the prior year period, net income per diluted share was $1.20, excluding expenses associated with the Company's Global Efficiency Re-engineering initiative. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release.