NEW YORK (AP) -- Elizabeth Arden jumped nearly 14 percent Thursday after the makeup and skincare company reported better-than-expected fourth-quarter results and gave strong guidance for its first quarter.
The company, which makes namesake perfume and celebrity perfume for people like Britney Spears and Justin Bieber, cited strong international sales and the expansion of its perfume business, particularly in Europe.
Net income for the April-to-June period fell 33 percent to $3.6 million or 12 cents per share, from $5.4 million, or 18 cents per share last year. However, the company was saddled with one time license fees and other costs. Excluding those items, net income was 28 cents per share, much better than the 20 cents expected on Wall Street, according to FactSet.
Revenue rose 5 percent to $265.5 million from $253.8 million last year. Analysts expected revenue of $264.1 million.
Net income for the year rose 40 percent to $57.4 million, or $1.91 per share, from $41 million, or $1.41 per share last year. Revenue rose 5 percent to $1.24 billion from $1.18 billion a year ago. Excluding the stronger dollar, revenue would have risen 8 percent.
The company expects net income of 38 to 43 cents per share on revenue of $330 million to $340 million during this quarter, topping analyst expectations of 37 cents per share and revenue of $317.8 million.
It also topped Wall Street expectations for the year with a forecast of $2.55 to $2.70 per share and revenue of growth of 13.5 percent to 15 percent, implying revenue of $1.41 billion to $1.42 billion. Analysts were looking for $2.38 per share on revenue of $1.3 billion.
Shares of Elizabeth Arden Inc. rose $5.35 to $44.31 during midday trading. Shares had been up 5 percent since the beginning of the year.
