Last $16.80 USD
Change Today +0.45 / 2.75%
Volume 42.9K
RDEN On Other Exchanges
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As of 11:27 AM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

elizabeth arden inc (RDEN) Key Developments

Elizabeth Arden, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Provides Earnings Guidance for the Second Half of Fiscal 2015 and Provides Capital Expenditures Guidance for the Fiscal 2015

Elizabeth Arden, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported net sales of $333,607,000 compared to $418,137,000 a year ago. Loss before income taxes was $56,066,000 compared to income before income taxes of $45,040,000 a year ago. Net loss attributable to the company’s shareholders was $56,139,000 or $1.90 per diluted share compared to net income attributable to the company’s shareholders of $34,953,000 or $1.16 per diluted share a year ago. Adjusted to exclude non-recurring costs, net of taxes, net income attributable to the company’s shareholders was $8,517,000 or $0.28 per diluted share compared to $32,650,000 or $1.08 per diluted share a year ago. Adjusted EBITDA was $31,047,000 compared to $57,415,000 a year ago. LBITDA was $35,599,000 compared to EBITDA of $63,898,000 a year ago. For the six months period, the company reported net sales of $603,985,000 compared to $761,746,000 a year ago. Loss before income taxes was $81,347,000 compared to income before income taxes of $47,042,000 a year ago. Net loss attributable to the company’s shareholders was $81,489,000 or $3.44 per diluted share compared to net income attributable to the company’s shareholders of $36,650,000 or $1.21 per diluted share a year ago. Adjusted to exclude non-recurring costs, net of taxes, net loss attributable to the company’s shareholders was $4,423,000 or $0.15 per diluted share compared to net income attributable to the company of $39,402,000 or $1.30 per diluted share a year ago. Adjusted EBITDA was $32,326,000 compared to $84,547,000 a year ago. Net cash provided by operating activities was $37,136,000 compared to $15,233,000 a year ago. Capital expenditures totaled $14.6 million, which compares to $25.8 million of capital spending in the prior year period. LBITDA was $40,412,000 compared to EBITDA of $84,461,000 a year ago. The company currently expects the following for the second half of fiscal 2015: net sales increases in the International segment versus the prior year period at constant currency rates with continued declines in celebrity fragrances impacting the North American segment; gross margin expansion due to improved pricing, better sales mix, lower discounts and realization of reduced supply chain and product costs; improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses; stronger cash flow from operations from improved working capital. The company expects capital expenditures for fiscal 2015 to total approximately $30 million.

Elizabeth Arden Mulls Acquisition

Elizabeth Arden, Inc. (NasdaqGS:RDEN) is seeking acquisitions. Rod Little, Executive Vice President and Chief Financial Officer of Elizabeth Arden, said in Elizabeth Arden earnings call, “Going forward, we'll also look for tack-on designer fragrance acquisitions to better leverage our international infrastructure.”

Elizabeth Arden, Inc. to Report Q2, 2015 Results on Feb 05, 2015

Elizabeth Arden, Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Feb 05, 2015

Elizabeth Arden, Inc., Q2 2015 Earnings Call, Feb 05, 2015

Elizabeth Arden, Inc., Q2 2015 Earnings Call, Feb 05, 2015

Elizabeth Arden, Inc. Enters into Amendment of Existing Credit Facility

On December 17, 2014, Elizabeth Arden, Inc. entered into an amendment of its existing credit facility with a syndicate of banks, for which JP Morgan Chase bank is the administrative agent, which, among other things, extended the maturity date of the Credit Facility to December 17, 2019. Under the terms of the Credit Facility, as amended, the company may borrow, on a revolving basis, up to $275 million, with a $25 million sub-limit for letters of credit. Additionally, the company may, at any time, increase the size of the Credit Facility up to $375 million without entering in a formal amendment requiring the consent of all of the banks, subject to the Company's satisfaction of certain conditions. The Credit Facility continues to be guaranteed by all of the company's material U.S. subsidiaries and is collateralized by a first priority lien on all of its U.S. accounts receivable and U.S. inventory. Borrowings under the Credit Facility are limited to 85% of eligible accounts receivable and 85% of the appraised net liquidation value of the company's inventory, as determined pursuant to the terms of the Credit Facility; provided, however, that from August 15 to October 31 of each year the borrowing base may be temporarily increased by up to $25 million.

 

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