Elizabeth Arden, Inc. (RDEN)

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its fourth quarter and fiscal year 2016 ended June 30, 2016. The conference call will be broadcast live over the Internet on Wednesday, August 10, 2016, at 4:30 p.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until September 10, 2016. A press release including the Company’s fourth quarter and fiscal year 2016 results will be issued on August 10, 2016, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skin care, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; and the heritage fragrance brands of Alfred Sung, Britney Spears, Christina Aguilera, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its 2016 fiscal third quarter ended March 31, 2016. The conference call will be broadcast live over the Internet on Thursday, May 5, 2016, at 9:30 a.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until June 5, 2016. A press release including the Company’s third quarter fiscal year 2016 results will be issued on May 5, 2016, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; and the heritage fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq: RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its 2016 fiscal second quarter ended December 31, 2015. The conference call will be broadcast live over the Internet on Thursday, February 4, 2016, at 4:30 p.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until March 4, 2016. A press release including the Company’s second quarter fiscal year 2016 results will be issued on February 4, 2016, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; the lifestyle fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders; and the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its 2016 fiscal first quarter ended September 30, 2015. The conference call will be broadcast live over the Internet on Wednesday, November 4, 2015, at 4:30 p.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until December 4, 2015. A press release including the Company’s first quarter fiscal year 2016 results will be issued on November 4, 2015, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; the lifestyle fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders; and the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its fourth quarter and fiscal year 2015 ended June 30, 2015. The conference call will be broadcast live over the Internet on Thursday, August 6, 2015, at 9:30 a.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until September 6, 2015. A press release including the Company’s fourth quarter and fiscal year 2015 results will be issued on August 6, 2015, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; and the lifestyle fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq: RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its third quarter fiscal 2015 ended March 31, 2015. The conference call will be broadcast live over the Internet on Thursday, May 7, 2015, at 9:30 a.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until June 7, 2015. A press release including the Company’s third quarter fiscal 2015 results will be issued on May 7, 2015, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; and the lifestyle fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, invites investors to listen to a broadcast of the Company’s conference call to discuss results for its second quarter fiscal 2015 ended December 31, 2014. The conference call will be broadcast live over the Internet on Thursday, February 5, 2015, at 4:30 p.m. (Eastern Time) and can be accessed by visiting the Company’s website http://ir.elizabetharden.com under the “Corporate tab” section. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company’s website until March 5, 2015. A press release including the Company’s second quarter fiscal 2015 results will be issued on February 5, 2015, prior to the start of the conference call. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the celebrity fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; and the lifestyle fragrance brands of Alfred Sung, Britney Spears, Curve, BCBGMAXAZRIA, Elizabeth Taylor, Geoffrey Beene, Giorgio Beverly Hills, Halston, Ed Hardy, Jennifer Aniston, Lucky Brand, Rocawear, PS Fine Cologne and White Shoulders.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (NASDAQ:RDEN), a global prestige beauty products company, today announced financial results for its first fiscal quarter ended September 30, 2014. FIRST QUARTER RESULTS Net sales for the fiscal quarter ended September 30, 2014, were $270.4 million. On an adjusted basis, net sales were $273.1 million, a decrease of 20.5% from the prior year, or 21.1% excluding the impact of foreign currency rates. The net loss per diluted share for the fiscal quarter ended September 30, 2014, was $1.54. On an adjusted basis, excluding non-recurring items, a one-time accretion charge of $20.1 million related to the issuance of redeemable preferred stock and a valuation allowance of $7.4 million against U.S deferred tax assets, net loss per diluted share was $0.43. The non-recurring items of $6.1 million consist of returns, markdowns and other costs associated with the Company’s 2014 Performance Improvement Plan (the “2014 Improvement Plan”) that was announced on June 23, 2014. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release. Net sales of the Company’s North America and International segments declined by 23% and 17% (at constant currency rates), respectively. These sales declines were expected and reflect continued proactive tightening of distribution globally, particularly of Elizabeth Arden branded products, in an effort to improve pricing and gross margins, and lower sales of celebrity fragrances, which primarily impacted the Company’s North American business. E. Scott Beattie, Chairman, President and Chief Executive Officer, commented, “Our first quarter results were in-line with our expectations, with sales and earnings declines that we expected and forecasted. As we previously stated, fiscal 2015 is a rebuilding year, and during the quarter we continued to advance the key elements of our turnaround plans. We recently established a joint venture with the Chalhoub Group in the Middle East to accelerate growth in that region and expect to establish an additional joint venture for Southeast Asia in 2015. The objective of both of these joint ventures is to accelerate the commercialization of our brands in large, rapidly growing beauty markets with partners who have established sales and marketing infrastructures. Finally, with respect to our performance improvement plans, our indirect overhead savings were slightly ahead of budget for the first quarter, and we remain committed to achieving a total of $40 million to $50 million of annualized savings.” OUTLOOK The Company reiterates its comments regarding the outlook for fiscal 2015. Specifically, the Company expects a modest improvement in adjusted earnings for fiscal 2015 over the prior year with continued improvement in fiscal 2016, and continues to expect the following: Net sales headwinds to continue for the first half of fiscal 2015, resulting primarily from continued proactive tightening of distribution and a lower level of product innovation as compared to the first half of the prior fiscal year; Net sales increases in the second half of the fiscal year versus the prior year period as the year-over-year product launch comparisons moderate and the Company begins to realize the impact of improved pricing; Gross margin expansion due to improved pricing, better sales mix, lower discounts and realization of reduced supply chain and product costs; Lower overall selling, general and administrative expenses, with some reinvestment of 2014 Improvement Plan savings to drive future growth; Improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses; and Stronger cash flow from operations as a result of modestly higher earnings and lower investment in inventory. BOARD OF DIRECTORS The Company also announced that M. Steven Langman and Franz-Ferdinand Buerstedde, co-founder and Managing Director, and Managing Director of Rhône Group L.L.C., respectively, have been elected to its board of directors effective October 28, 2014 by the holders of the Company’s outstanding preferred stock. Mr. Langman also will serve as the Company’s lead independent director effective December 1, 2014, and has joined the Compensation and Nominating and Corporate Governance Committees of the board. The Company also announced that J. W. Nevil Thomas will retire as a member of the board as of the Company’s 2014 Annual Shareholder Meeting. Mr. Langman co-founded Rhône Group, a private equity firm, in 1996 and since that time has served as Managing Director. Prior to 1996, Mr. Langman was Managing Director of Lazard Frères & Co. LLC, where he specialized in mergers and acquisitions, working in both London and New York, and in the mergers and acquisition group of Goldman, Sachs & Co. Mr. Langman currently serves on the boards of a number of companies and also served on the board of Coty Inc. from January 2011 until June 2014. Mr. Buerstedde joined Rhône Group in 2004, where he has served as a Managing Director since January 2011. Prior to 2004, Mr. Buerstedde worked in the mergers and acquisitions group at Citibank in London. Mr. Buerstedde also currently serves on the boards of a number of companies. “We are delighted to add Steve and Franz to Elizabeth Arden’s board of directors,” commented Mr. Beattie. “Their extensive financial and global consumer product experience will be a tremendous asset for our Company and its shareholders. I would also like to thank Nevil for more than 22 years of dedicated service and remarkable contributions to our Company. Nevil has been integral to the growth and success of our Company and has provided the board and me invaluable advice and guidance during his tenure.” The Company will host a conference call today, October 30, 2014 at 9:30 a.m. Eastern Time. All interested parties can listen to a live web cast of the Company's conference call by visiting the Investor Relations section of the Corporate tab on the Company's web site at http://ir.elizabetharden.com. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until November 30, 2014. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care lines, Elizabeth Arden Rx and Elizabeth Arden PRO; the celebrity fragrance brands of Britney Spears, Elizabeth Taylor, Jennifer Aniston, Justin Bieber, Mariah Carey, Nicki Minaj, and Taylor Swift; the designer fragrance brands of Juicy Couture, Alfred Sung, BCBGMAXAZRIA, Geoffrey Beene, Halston, Ed Hardy, John Varvatos, Lucky Brand, Rocawear and Wildfox Couture; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne. ELIZABETH ARDEN, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS DATA (Unaudited) (In thousands, except percentages and per share data) Net (Loss) Income Attributable to Elizabeth Arden Shareholders Net (Loss) Income Attributable to Elizabeth Arden Common Shareholders As reported: Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Common Shareholders Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Common Shareholders Adjusted to exclude non-recurring costs, net of taxes (b)(c)(d): Net (Loss) Income Attributable to Elizabeth Arden Common Shareholders Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Common Shareholders Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Common Shareholders (a) EBITDA is defined as net income attributable to Elizabeth Arden common shareholders plus the provision for income taxes (or net loss attributable to Elizabeth Arden common shareholders, less the benefit from income taxes) plus interest expense, plus depreciation and amortization, plus net income (or net loss) attributable to noncontrolling interest, plus accretion and dividends on preferred stock. EBITDA should not be considered as an alternative to income (loss) from operations or net income (loss) attributable to Elizabeth Arden common shareholders (as determined in accordance with generally accepted accounting principles (GAAP)) as a measure of our operating performance or to net cash provided by operating activities (as determined in accordance with GAAP) or as a measure of our ability to meet cash needs. We believe that EBITDA is a measure commonly reported and widely used by investors and other interested parties as a measure of a company's operating performance and debt servicing ability because it assists in comparing performance on a consistent basis without regard to capital structure, depreciation and amortization, preferred stock accretion or dividends or non-operating factors (such as historical cost). Accordingly, as a result of our capital structure, we believe EBITDA is a relevant measure. This information has been disclosed here to permit a more complete comparative analysis of our operating performance relative to other companies and of our debt servicing ability. EBITDA may not, however, be comparable in all instances to other similar types of measures. We have also disclosed EBITDA as adjusted without giving effect to Elizabeth Arden brand repositioning, 2014 Performance Improvement Plan, and restructuring and other non-recurring costs. This disclosure is being provided for comparability purposes because we believe it is meaningful to our investors and other interested parties to understand the EBITDA performance of the Company on a consistent basis without regard to the effect of Elizabeth Arden brand repositioning, 2014 Performance Improvement Plan, and restructuring and other non-recurring costs. The table below reconciles net (loss) income attributable to Elizabeth Arden common shareholders, as determined in accordance with GAAP, to EBITDA and to EBITDA as adjusted: (For a reconciliation of net income (loss) attributable to Elizabeth Arden common shareholders or net income (loss) to EBITDA for prior periods, see the Company's filings with the Securities and Exchange Commission which can be found on the Company's website at www.elizabetharden.com). The table below reconciles net cash flow used in operating activities, as determined in accordance with GAAP, to EBITDA: (b) The table below reconciles the calculation of (i) net sales, (ii) gross profit and net (loss) income attributable to Elizabeth Arden common shareholders and (iii) net (loss) income per share attributable to Elizabeth Arden common shareholders on a basic and diluted basis from the amounts reported in accordance with GAAP to such amounts before giving effect to Elizabeth Arden brand repositioning, 2014 Performance Improvement Plan, and restructuring other non-recurring costs. This disclosure is being provided for comparability purposes because we believe it is meaningful to our investors and other interested parties to understand our operating performance on a consistent basis without regard to the effect of Elizabeth Arden brand repositioning, 2014 Performance Improvement Plan, and restructuring other non-recurring costs. The presentation in the table below of the non-GAAP information titled “Net Sales as adjusted,” “Gross profit as adjusted,” “Net (loss) income attributable to Elizabeth Arden common shareholders as adjusted” and “Net (loss) income per basic and diluted share attributable to Elizabeth Arden common shareholders as adjusted” is not meant to be considered in isolation or as a substitute for net sales, gross profit, net (loss) income attributable to Elizabeth Arden common shareholders or net (loss) income per basic or diluted share attributable to Elizabeth Arden common shareholders prepared in accordance with GAAP. Net Sales: Gross Profit: Net (Loss) Income Attributable to Elizabeth Arden Common Shareholders: Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Common Shareholders: Net (loss) income per basic share attributable to Elizabeth Arden common shareholders, as reported 0.17 Net (loss) income per basic share attributable to Elizabeth Arden common shareholders, as adjusted Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Common Shareholders: Net (loss) income per diluted share attributable to Elizabeth Arden common shareholders, as reported Net (loss) income per diluted share attributable to Elizabeth Arden common shareholders, as adjusted (c) For the three months ended September 30, 2014, net sales, gross profit and net loss attributable to Elizabeth Arden common shareholders include $2.7 million (pre-tax) of returns and markdowns under our 2014 Performance Improvement Plan. In addition, net loss also includes $3.4 million (pre-tax) in expenses under the 2014 Performance Improvement Plan, comprised primarily of severance and other employee-related expenses and transition costs, as well as a valuation allowance of $7.4 million against our U.S. deferred tax assets taken as a non-cash charge to income tax expense. In addition, net loss attributable to Elizabeth Arden common shareholders also includes $20.1 million of accretion for the change in redemption value related to the issuance of preferred stock in August 2014. We decided to recognize the accretion immediately and recorded the full accretion in the first quarter of fiscal 2015. (d) For the three months ended September 30, 2013, gross profit and net income includes $3.8 million (pre-tax) of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand. In addition, net income also includes $2.4 million (pre-tax) of severance and other employee-related expenses and related transition expenses incurred with respect to the elimination of certain sales positions and other staff positions in the fall 2013, and $0.4 million (pre-tax) of non-recurring product changeover expenses related to the above mentioned repositioning. (e) Our effective tax rate on a reported basis for the three months ended September 30, 2014 and 2013, which is calculated as a percentage of income or loss before income taxes, was (0.9)% and 20.7%, respectively. On an adjusted basis, for the three months ended September 30, 2014 and 2013, our tax rate was 33.3% and 22.5%, respectively. SEGMENT AND PRODUCT CATEGORY NET SALES The table below is a comparative summary of our net sales by reportable segment for the three months ended September 30, 2014 and 2013: The table below is a comparative summary of our net sales by product category for the three months ended September 30, 2014 and 2013: September 30, 2014 September 30, 2013 Celebrity, Lifestyle, Designer and Other Fragrances The table below is a comparative summary of our adjusted net sales by product category for the three months ended September 30, 2014 and 2013: September 30, 2014 September 30, 2013 Celebrity, Lifestyle, Designer and Other Fragrances (1) Constant currency information compares results between periods assuming exchange rates had remained constant period-over-period and excludes gains and losses from foreign currency contracts in all periods. We calculate constant currency information by translating current-period results using prior-year GAAP foreign currency exchange rates. The gains and/or losses from foreign currency contracts were not material for all periods presented. (2) Amount for the three months ended September 30, 2014, reflects returns and markdowns under our 2014 Performance Improvement Plan. September 30, 2014 September 30, 2013 September 30, 2014 September 30, 2013 Cautionary Note Regarding Forward-Looking Information and Factors That May Affect Future Results The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. This press release and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management's plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products, future operating or financial performance or results of current and anticipated products, sales efforts, expenses and/or cost savings, interest rates, foreign exchange rates, the outcome of contingencies such as legal proceedings, and financial results. A list of factors that could cause our actual results of operations and financial condition to differ materially is set forth below, and these factors are discussed in greater detail under Item 1A -- "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2014: * We caution that the factors described herein and other factors could cause our actual results of operations and financial condition to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (NASDAQ:RDEN), a global prestige beauty products company, today announced financial results for its fourth fiscal quarter and year ended June 30, 2014. FISCAL 2014 RESULTS Net sales for the fiscal year ended June 30, 2014, were $1.164 billion, a decrease of 13.4% from the prior year, or 12.8% excluding the impact of foreign currency rates. On an adjusted basis, net sales were $1.174 billion, a decrease of 12.7% from the prior year, or 12.1% excluding the impact of foreign currency rates. The net loss per diluted share for the fiscal year ended June 30, 2014, was $4.90. The net loss for the current year includes a valuation allowance of $89.5 million recorded as a non-cash charge recorded against U.S. deferred tax assets. On an adjusted basis, excluding non-recurring items, net loss per diluted share for the fiscal year ended June 30, 2014, was $0.55. The non-recurring items include Elizabeth Arden repositioning and restructuring costs, a one-time gain related to the reversal of a contingent liability associated with an acquisition, and costs associated with the Company’s 2014 Performance Improvement Plan (the “2014 Improvement Plan”) that was announced on June 23, 2014. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release. FOURTH QUARTER RESULTS Net sales for the three months ended June 30, 2014, were $191.7 million, a decrease of 28.4%, as compared to the prior year. On an adjusted basis, net sales were $201.2 million, a decrease of 24.8% as compared to the prior year. Net loss per diluted share for the fourth quarter of fiscal 2014 was $5.24. On an adjusted basis, excluding the non-recurring items discussed above, net loss per diluted share for the fourth fiscal quarter of 2014 was $1.04. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release. While the Company had expected weaker sales comparisons due to the lower level of fragrance launch activity in fiscal 2014 versus fiscal 2013, the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated. The inventory destocking at a number of non-prestige customers that impacted the Company’s 2014 third fiscal quarter results continued through the fourth quarter of fiscal 2014 and led the Company’s shipments to be below the rate of retail sales. The Company also proactively tightened distribution globally across its key Elizabeth Arden branded products and certain other pillar fragrance brands during fiscal 2014 to improve pricing and gross margins, which negatively impacted sales and profits, but is beginning to result in improved pricing. By segment, for the 2014 fiscal year, net sales of the Company’s North America and International segments declined by 14% and 8% (at constant currency rates), respectively. Retail sales at the Company's Elizabeth Arden flagship counters have increased 9% in North America since conversion, and retail sales at the Company’s international flagship doors have increased 8% since conversion, or 16% excluding underperforming travel retail doors in Korea. The Company notes that the converted flagship doors are now in their second year and, as a result, the Company will not be reporting on this metric going forward. E. Scott Beattie, Chairman, President and Chief Executive Officer commented, “Our primary focus as an organization is to improve performance and restore profitability and return on invested capital to levels consistent with historical results. In June 2014, we announced the 2014 Improvement Plan, which is expected to result in annualized savings of $27 million to $35 million. We remain committed to achieving a total of $40 million to $50 million of annualized savings upon full implementation of all of our cost-reduction efforts, and remain confident that we can get back to consistent improvement in quarter over quarter performance. Most of the changes to our organizational structure were implemented in the third and fourth quarters of fiscal 2014, which should position the Company for improved performance in fiscal 2015.” OUTLOOK Fiscal 2015 will be focused on stabilizing the business and will be the first year of a multi-year plan to rebuild profitability. The Company expects a modest improvement in adjusted earnings for fiscal 2015 over the prior year with continued improvement in fiscal 2016. Specifically, for fiscal 2015, the Company currently expects the following: The first quarter of fiscal 2015 will continue to be challenged by the same factors that affected recent quarters Net sales headwinds to continue for the first half of fiscal 2015, resulting primarily from a lower level of product innovation as compared to the first half of the prior fiscal year Net sales increases in the second half of the fiscal year versus the prior year period as the year-over-year product launch comparisons moderate and the Company begins to realize the impact of improved pricing Gross margin expansion due to improved pricing, better mix, lower discounts and realization of reduced supply chain and product costs Lower overall selling, general and administrative expenses, with some reinvestment of 2014 Improvement Plan savings to drive future growth Improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses Stronger cash flow from operations as a result of higher earnings and lower investment in inventory STRATEGIC INVESTMENT BY RHÔNE CAPITAL The Company also announced today that investment funds affiliated with Rhône Capital L.L.C. (“Rhône Capital”) have agreed to purchase $50 million of redeemable preferred stock of the Company and also will receive warrants to purchase 2.5 million shares of the Company’s common stock at an exercise price of $20.39 per share, representing approximately 7.6% of the Company’s outstanding common stock on an as-exercised basis. Rhône Capital also has advised the Company that, subject to market conditions and applicable legal or regulatory approvals, it intends to increase its ownership of the Company’s common stock over time. Rhône Capital has agreed to enter into a standstill with the Company, pursuant to which it will not acquire more than 30% of the Company’s common stock after giving effect to the exercise of the warrants. Dividends on the preferred stock will be payable at a rate of 5% annually. Goldman, Sachs & Co. acted as financial advisor to the Company, and Weil, Gotshal & Manges LLP acted as legal counsel to the Company. Rhône Capital is an investment firm focused on global investments in businesses with international presence and global scale, with particular expertise in the consumer product, retail and beauty sectors and with a track record of adding value in public companies as a minority investor. In connection with its investment, Rhône Capital has the right to designate one member to the Company’s Board of Directors for so long as it maintains its initial percentage interest in the Company, and the right to designate an additional member in the event that Rhône Capital acquires an ownership stake in the Company’s common stock of 20% or more on a fully diluted basis. M. Steven Langman, Co-Founder of Rhône Capital, commented, “Having assessed the opportunity, and focused on the market positioning of Elizabeth Arden, the quality and potential of Elizabeth Arden’s brand portfolio, and the quality of the Company’s management team, we firmly believe that this represents a unique investment opportunity to partner with a proven entrepreneurial organization and help them achieve their ambition to be a leader in the global beauty industry.” Mr. Beattie added, “I am very excited to have Rhône Capital as an equity partner, to support the turnaround of our business in the short-term and the continued global growth and development of our brands and organization in the future. I am confident that we have a compelling business plan to improve the Company's performance. Rhône Capital’s investment and commitment to Elizabeth Arden in light of its significant experience in our industry is evidence that Rhône Capital shares our optimism and belief in the outlook for the Company." The Company will host a conference call today, August 19, 2014 at 8:30 a.m. Eastern Time. All interested parties can listen to a live web cast of the Company's conference call by visiting the Investor Relations section of the Corporate tab on the Company's web site at http://ir.elizabetharden.com. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until September 2, 2014. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care lines, Elizabeth Arden Rx and Elizabeth Arden PRO; the celebrity fragrance brands of Britney Spears, Elizabeth Taylor, Jennifer Aniston, Justin Bieber, Mariah Carey, Nicki Minaj, and Taylor Swift; the designer fragrance brands of Juicy Couture, Alfred Sung, BCBGMAXAZRIA, Geoffrey Beene, Halston, Ed Hardy, John Varvatos, Lucky Brand, Rocawear and Wildfox Couture; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne. As reported: Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Shareholders Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Shareholders Adjusted to exclude non-recurring costs, net of taxes (b)(c)(d): Net (Loss) Income Attributable to Elizabeth Arden Shareholders Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Shareholders Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Shareholders The table below reconciles net income (loss) attributable to Elizabeth Arden shareholders, as determined in accordance with GAAP, to EBITDA and to EBITDA as adjusted: (For a reconciliation of net income (loss) attributable to Elizabeth Arden shareholders or net income (loss) to EBITDA for prior periods, see the Company's filings with the Securities and Exchange Commission which can be found on the Company's website at www.elizabetharden.com). The table below reconciles net cash flow (used in) provided by operating activities, as determined in accordance with GAAP, to EBITDA: Net Sales: Gross Profit: Net (Loss) Income Attributable to Elizabeth Arden Shareholders: Net (loss) income attributable to Elizabeth Arden shareholders, as reported Net (loss) income attributable to Elizabeth Arden shareholders, as adjusted Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Shareholders: Net (loss) income per basic share attributable to Elizabeth Arden shareholders, as reported Net (loss) income per basic share attributable to Elizabeth Arden shareholders, as adjusted Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Shareholders: Net (loss) income per diluted share attributable to Elizabeth Arden shareholders, as reported Net (loss) income per diluted share attributable to Elizabeth Arden shareholders, as adjusted

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (NASDAQ:RDEN), a global prestige beauty products company, today announced financial results for its third fiscal quarter ended March 31, 2014. THIRD QUARTER RESULTS Net sales for the third fiscal quarter were $210.8 million, a decrease of 20.3%, or 19.4% excluding the impact of foreign currency rates. Net loss per diluted share was $0.89. On an adjusted basis, excluding non-recurring items, net loss per diluted share was $0.84. The non-recurring items include Elizabeth Arden repositioning and restructuring costs. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release. Net sales of the Company’s North America segment decreased 23% to $121.9 million from $158.7 million in the prior year. The decline in net sales was primarily due to fewer fragrance launches in the fiscal 2014 period as compared to the prior year and lower replenishment orders at a number of non-prestige retail accounts. Net sales of the Company’s international segment decreased 16% to $89 million from $106 million in the prior year. At constant currency rates, net sales decreased 14%. The sales decline in the international segment reflects the Company’s efforts to maintain product pricing across both Elizabeth Arden branded products and its key fragrance brands. Net sales of Elizabeth Arden branded skin care, color and fragrance products declined by 19% for the third fiscal quarter and by 3% fiscal year-to-date, in each case at constant currency rates. Retail sales at the Company's Elizabeth Arden flagship counters have increased 11% in North America year-over-year since conversion, and retail sales at the Company’s international flagship doors have increased 11% since conversion, or 19% excluding underperforming travel retail doors in Korea. The Company remains encouraged by the results, particularly given that all of the flagship doors are now reaching the anniversary of their reset dates. NINE MONTH RESULTS Net sales for the nine months ended March 31, 2014, were $972.6 million, a decrease of 9.7%, or 9.0%, excluding the impact of foreign currency rates. Net income per diluted share was $0.34. On an adjusted basis, excluding non-recurring items, net income per diluted share was $0.48. The non-recurring items include Elizabeth Arden repositioning and restructuring costs and a one-time gain related to the reversal of a contingent liability associated with an acquisition. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release. E. Scott Beattie, Chairman, President and Chief Executive Officer commented, “Clearly these results are not indicative of the strength and potential of our brand portfolio. We have been hampered this year by weak performance in our North American mass fragrance business and a global environment that has been highly promotional. We also did not have the same level of significant fragrance innovation as we did last year. This coincided with an unprecedented number of weather-related store closures in our North America business during the quarter, which is our seasonally weakest quarter, exacerbating the impact of these other factors and contributing to the weak overall results.” Mr. Beattie continued, “These results are clearly disappointing, particularly after several years of consistent improvement in gross margins and earnings. The status quo is not acceptable. While we are encouraged by recent retail sales performance in our North American mass fragrance business, we must position the Company for success in an economic environment that remains challenging. We are taking corrective action to improve the performance of the business, focusing on tightening distribution, improving gross margins and restoring profitability and return on invested capital to levels consistent with historical results.” As part of this process, the Company is proactively implementing a broad restructuring and cost savings program across multiple dimensions focused on reducing its overhead structure and improving gross margins. The Company is currently targeting annual savings in the range of $40 million to $50 million upon full implementation of this program. The Company is also evaluating a shift in the focus of its international business to rely more heavily on distributors and regional joint ventures that allow its brands to leverage established commercial infrastructures with strong retail market share and expertise. The Company will provide more detail on this plan, along with its cost savings initiatives, on its call in August 2014. Mr. Beattie concluded, “We fully recognize that we have a lot of work to do. Our new Chief Financial Officer recently joined us and is now fully engaged. He, along with our new Executive Vice President, International and the rest of our commercial teams are fully committed to making the changes necessary to move us towards more predictable and sustainable profitability.” EXPLORATION OF STRATEGIC ALTERNATIVES The Company has engaged Goldman, Sachs & Co. to assist the Board of Directors in exploring potential strategic alternatives to enhance shareholder value and to accelerate the growth and maximize the value of its brand portfolio. There can be no assurance that the Company will pursue any strategic alternatives, whether its review will result in any transaction being entered into or consummated or what the form or terms and conditions of any such strategic alternative may be. The Company does not intend to make any additional disclosure unless and until such disclosure is required. The Company will host a conference call today, May 12, 2014 at 4:30 p.m. Eastern Time to discuss its results. All interested parties can listen to a live web cast of the Company's conference call by visiting the Investor Relations section of the Corporate tab on the Company's web site at http://ir.elizabetharden.com. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until June 12, 2014. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skin care line, Elizabeth Arden Rx; the celebrity fragrance brands of Britney Spears, Elizabeth Taylor, Jennifer Aniston, Justin Bieber, Mariah Carey, Nicki Minaj, Usher and Taylor Swift; the designer fragrance brands of Juicy Couture, Alfred Sung, BCBGMAXAZRIA, Geoffrey Beene, Halston, Ed Hardy, John Varvatos, Lucky Brand, True Religion and Rocawear; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne. ELIZABETH ARDEN, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENT OF OPERATIONS DATA(Unaudited)(In thousands, except percentages and per share data) Net Loss Attributable to Noncontrolling Interests Net (Loss) Income Attributable to Elizabeth Arden Shareholders As reported: Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Shareholders Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Shareholders Adjusted to exclude non-recurring costs, net of taxes (b)(c)(d): Net (Loss) Income attributable to Elizabeth Arden Shareholders Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Shareholders Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Shareholders (a) EBITDA is defined as net income attributable to Elizabeth Arden shareholders plus the provision for income taxes (or net loss attributable to Elizabeth Arden shareholders, less the benefit from income taxes) plus interest expense, plus depreciation and amortization, plus net income or loss attributable to noncontrolling interest. EBITDA should not be considered as an alternative to income from operations or net income attributable to Elizabeth Arden shareholders (as determined in accordance with generally accepted accounting principles (GAAP)) as a measure of our operating performance or to net cash provided by operating activities (as determined in accordance with GAAP) or as a measure of our ability to meet cash needs. We believe that EBITDA is a measure commonly reported and widely used by investors and other interested parties as a measure of a company's operating performance and debt servicing ability because it assists in comparing performance on a consistent basis without regard to capital structure, depreciation and amortization or non-operating factors (such as historical cost). Accordingly, as a result of our capital structure, we believe EBITDA is a relevant measure. This information has been disclosed here to permit a more complete comparative analysis of our operating performance relative to other companies and of our debt servicing ability. EBITDA may not, however, be comparable in all instances to other similar types of measures. We have also disclosed EBITDA as adjusted without giving effect to acquisition-related, Elizabeth Arden brand repositioning and restructuring costs, as well as other non-recurring costs. This disclosure is being provided for comparability purposes because we believe it is meaningful to our investors and other interested parties to understand the EBITDA performance of the Company on a consistent basis without regard to the effect of acquisition-related, Elizabeth Arden brand repositioning and restructuring and other non-recurring costs. The table below reconciles net income attributable to Elizabeth Arden shareholders, as determined in accordance with GAAP, to EBITDA and to EBITDA as adjusted: (For a reconciliation of net income attributable to Elizabeth Arden shareholders or net income to EBITDA for prior periods, see the Company's filings with the Securities and Exchange Commission which can be found on the Company's website at www.elizabetharden.com). The table below reconciles net cash flow used in operating activities, as determined in accordance with GAAP, to EBITDA: (b) The table below reconciles the calculation of (i) gross profit and net (loss) income attributable to Elizabeth Arden shareholders and (ii) net (loss) income per share attributable to Elizabeth Arden shareholders on a basic and diluted basis from the amounts reported in accordance with GAAP to such amounts before giving effect to acquisition-related, Elizabeth Arden brand repositioning and restructuring costs, as well as other non-recurring costs. This disclosure is being provided for comparability purposes because we believe it is meaningful to our investors and other interested parties to understand our operating performance on a consistent basis without regard to the effect of acquisition-related, Elizabeth Arden brand repositioning and restructuring costs, as well as other non-recurring costs. The presentation in the table below of the non-GAAP information titled "Gross profit as adjusted," "Net (loss) income attributable to Elizabeth Arden shareholders as adjusted" and "Net (loss) income per basic and diluted share attributable to Elizabeth Arden shareholders as adjusted" is not meant to be considered in isolation or as a substitute for gross profit, net (loss) income attributable to Elizabeth Arden shareholders or net (loss) income per basic or diluted share attributable to Elizabeth Arden shareholders prepared in accordance with GAAP. Gross Profit: Net (Loss) Income Attributable to Elizabeth Arden Shareholders: Net (loss) income attributable to Elizabeth Arden shareholders, as reported Net (loss) income attributable to Elizabeth Arden shareholders, as adjusted Net (Loss) Income Per Basic Share Attributable to Elizabeth Arden Shareholders: Net (loss) income per basic share attributable to Elizabeth Arden shareholders, as reported Net (loss) income per basic share attributable to Elizabeth Arden shareholders, as adjusted Net (Loss) Income Per Diluted Share Attributable to Elizabeth Arden Shareholders: Net (loss) income per diluted share attributable to Elizabeth Arden shareholders, as reported Net (loss) income per diluted share attributable to Elizabeth Arden shareholders, as adjusted (c) For the three months ended March 31, 2014, gross profit and net loss includes $1.8 million (pre-tax) of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand and $0.9 million (pre-tax) of transition costs incurred related to the restructuring discussed in the following sentence. In addition, net loss includes $0.6 million (pre-tax) of restructuring and related transition expenses primarily incurred with respect to the elimination of sales and other staff positions. For the nine months ended March 31, 2014, gross profit and net income includes $14.2 million (pre-tax) of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand and $1.4 million (pre-tax) of transition costs incurred related to the restructuring discussed above. In addition, net income includes (i) a credit of $17.2 million (pre-tax) for the complete reversal of the remaining balance of the contingent liability for potential payments to Give Back Brands LLC based on our determination during the second quarter of fiscal 2014 that it is not probable that the performance targets for fiscal 2014 and 2015 would be met, (ii) $3.9 million (pre-tax) of restructuring expenses and related transition expenses, and (iii) $1.1 million (pre-tax) of non-recurring product changeover expenses related to the repositioning of the Elizabeth Arden brand. (d) For the three months ended March 31, 2013, gross profit and net loss includes (i) $0.6 million (pre-tax) of inventory-related costs primarily for inventory purchased by us from New Wave Fragrances LLC and Give Back Brands LLC prior to the acquisitions, and other transition costs, and (ii) $2.8 million (pre-tax) of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand. In addition, net loss for the three months ended March 31, 2013, includes $0.1 million (pre-tax) in transition costs associated with the New Wave Fragrances LLC and Give Back Brands LLC acquisitions, and $0.1 million (pre-tax) of non-recurring product changeover expenses related to the repositioning of the Elizabeth Arden brand. For the nine months ended March 31, 2013, gross profit and net income include $13.8 million (pre-tax) of inventory-related costs primarily for inventory purchased by us from New Wave Fragrances LLC and Give Back Brands LLC discussed above, and $9.7 million (pre-tax) of non-recurring product changeover costs related to the repositioning of the Elizabeth Arden brand. In addition, net income includes $0.4 million (pre-tax) in transition costs associated with the New Wave Fragrances LLC and Give Back Brands LLC acquisitions, and $0.5 million (pre-tax) of non-recurring product changeover expenses related to the repositioning of the Elizabeth Arden brand. (e) Our tax rates for fiscal 2014 were calculated using the discrete method for our U.S. pre-tax income. Our tax rate on a reported basis, which is calculated as a percentage of income or loss before income taxes, was 24.3% and 18.9% for the three and nine months ended March 31, 2014, respectively. On a reported basis, for the three and nine months ended March 31, 2013, our effective tax rate was 18.3% and 21.9%, respectively. On an adjusted basis, our tax rate was 21.3% and 8.5% for the three and nine months ended March 31, 2014, respectively. On an adjusted basis, for the three and nine months ended March 31, 2013, our effective tax rate was 63.6% and 25.0%, respectively. SEGMENT NET SALES The table below is a comparative summary of our net sales by reportable segment for the three and nine months ended March 31, 2014 and 2013: PRODUCT CATEGORY NET SALES The table below is a comparative summary of our net sales by product category for the three and nine months ended March 31, 2014 and 2013: Elizabeth Arden Brand Celebrity, Lifestyle, Designer and Other Fragrances (f) Constant currency information compares results between periods assuming exchange rates had remained constant period-over-period and excludes gains and losses from foreign currency contracts in all periods. We calculate constant currency information by translating current-period results using prior-year GAAP foreign currency exchange rates. The gains and/or losses from foreign currency contracts were not material for all periods presented. ELIZABETH ARDEN, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEET DATA(Unaudited) Exclusive Brand Licenses, Trademarks and Intangibles, Net SUPPLEMENTARY CASH FLOW INFORMATION(Unaudited)(In thousands) In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Elizabeth Arden, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "should," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding net sales, earnings, gross margins, operating cash flow and returns on invested capital. In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations: We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended June 30, 2013.

NEW YORK--(BUSINESS WIRE)--Elizabeth Arden, Inc. (NASDAQ:RDEN), a global prestige beauty products company, announced today preliminary unaudited financial results for its second fiscal quarter ended December 31, 2013. The Company expects to report second fiscal quarter net sales of $415 million to $418 million and net income per diluted share of $1.13 to $1.16. On an adjusted basis, excluding non-recurring items, the Company expects to report net income per diluted share of $1.05 to $1.08. The non-recurring items include Elizabeth Arden repositioning and restructuring costs of $0.27 per diluted share and a one-time gain of $0.35 per diluted share related to the reversal of a contingent liability associated with an acquisition. For the first half of fiscal 2014, net sales of Elizabeth Arden branded products increased by approximately 2%, and sales of fragrances decreased by approximately 10%, as compared to the prior year period. Retail sales of Elizabeth Arden branded products at U.S. department stores increased by 4%, which the Company believes is above the performance of the overall category. Net sales of the Company’s North America segment decreased by approximately 9%, and net sales of the Company’s international segment decreased by approximately 1%, as compared to the prior year period. The net sales percentages are on a GAAP basis. E. Scott Beattie, Chairman, President and Chief Executive Officer commented, “While still solidly profitable, our second quarter results will be below our prior expectations primarily due to lower than anticipated net sales. Our results were significantly impacted by an increased level of highly promotional and discounted activity globally and weaker than anticipated holiday retail sales and replenishment orders at a number of our non-prestige retail accounts in North America. While we are disappointed with these results, we made the strategic decision in the quarter not to participate fully in the heavy promotional and discounted environment.” Mr. Beattie continued, “Moving forward, the greatest opportunity to drive margins and earnings growth continues to be the commercial expansion of our international business, which provides us with significant operating leverage. However, that business has performed inconsistently in recent periods. With new leadership in place under Eric Lauzat, Executive Vice President and General Manager, International, we are engaging in a fundamental reorganization of how we commercially execute our international business, focusing on priority markets, strengthening our travel retail and distributor relationships and exiting low-return businesses.” Mr. Beattie concluded, “We are confident our recent results are not reflective of the underlying strength of our fragrance brand portfolio and the tremendous potential of the Elizabeth Arden brand. We are focused on increasing shareholder value and remain fully committed to growing our brands and unlocking their value for the benefit of our shareholders.” Fiscal 2014 Outlook In light of these preliminary results, and the importance of the second fiscal quarter to full year results, the Company now expects its fiscal 2014 net sales and earnings to be below its prior guidance provided on October 30, 2013. That previous guidance was for net sales growth in the lower half of a 3% to 5% range and for earnings per diluted share in the lower half of a range of $2.15 to $2.30. The Company has decided to withdraw its previous guidance and will not be providing updated guidance for fiscal 2014 as part of its second quarter earnings announcement on February 5, 2014. The preliminary financial results presented above are subject to the completion of the Company’s financial closing procedures. Those procedures have not been completed. Accordingly, these preliminary results may change and those changes may be material. The Company will issue its full second quarter fiscal 2014 results on Wednesday February 5, 2014 before market and host a conference call to discuss its results at 8:30 a.m. Eastern Time. All interested parties can listen to a live web cast of the Company's conference call by visiting the Investor Relations section of the Corporate tab on the Company's web site at http://ir.elizabetharden.com. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until March 5, 2014. Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 100 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products, the celebrity fragrance brands of Britney Spears, Elizabeth Taylor, Justin Bieber, Mariah Carey, Nicki Minaj, Taylor Swift, Usher and Jennifer Aniston; the designer fragrance brands of Juicy Couture, Alfred Sung, BCBGMAXAZRIA, Geoffrey Beene, Halston, Bob Mackie, Ed Hardy, John Varvatos, Lucky Brand, True Religion and Rocawear; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Elizabeth Arden, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "should," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding net sales, earnings, gross margins, operating cash flow and returns on invested capital. In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations: We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended June 30, 2013.