Elizabeth Arden Beats 1st Qtr Estimates (RDEN)

Elizabeth Arden, Inc. RDEN announced on Thursday morning that it beat consensus Wall Street estimates. Elizabeth Arden, Inc reported that its 1st quarter net income jumped to $4.9 million, or 17 cents per share, up from $0.04 million, or 0 cents per share, a year earlier. Excluding special items, the company's earnings came in at 18 cents per share. Revenue rose to $284.82 million, up from $265.16 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 13 cents per share, on revenue of $277.44 million. Chairman, president and chief executive officer E. Scott Beattie said, "Through the first quarter, our business overall performed as we expected. Sales and earnings results were ahead of prior guidance, driven primarily by continued strong momentum in our international business. In constant currencies, net sales of our international business increased by 14%, with sales in Europe and our travel retail and distributor markets increasing by 14% and 31%, respectfully. Our net sales in North America rose by 6%." Elizabeth Arden forecast revenue in the range of $393 million to $403 million and net income 90 cents to $1.00 per share. Elizabeth Arden, Inc. (RDEN) closed the previous trading day at $20.89 per share. Analysts covering the company's stock give it a consensus price target of $22.40 per share. Read more from Benzinga's Company news.