Elizabeth Arden Shares Down 11% After Reporting Negative Earnings
Shares of Elizabeth Arden (NASDAQ: RDEN) 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.
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