Elizabeth Arden reported that third-quarter profits fell to $19.3 million, from $36.8 million one year ago. The results, before a non-cash charge, topped Wall Street’s expectations, the company said.
Excluding a preferred stock conversion charge, earnings totaled $38.9 million compared to $37.7 million.
Sales increased to $321.3 million, from $314.8 million. The quarter ended Oct. 25.
Sales for the first nine months of fiscal 2004 increased to $600.5 million, compared with $582.3 million for the same period last year. Income was $13.1 million, compared with $17.7 million.
The maker of beauty products and fragrances such as Red Door, Elizabeth Taylor’s White Diamonds and Passion, said it still expects sales for the fiscal year ending January 2004 to be $790 million to $805 million. The company credited the continued strength of its mass market business, increases in its advertising and promotional activities, and an anticipated improvement in the holiday selling season as compared to last year, for the projections.
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