By  on August 13, 2010

Shares of Elizabeth Arden Inc. vaulted more than 10 percent Thursday after the New York-based beauty firm posted fourth-quarter earnings, and projected fiscal 2011 profits above analysts’ estimates.

In the three months ended June 30, Arden generated net income of $2.3 million, or 8 cents a diluted share. This came against a net loss of $3.6 million, or 13 cents, in the year-ago period and a consensus estimate of 1 cent a share, according to analysts polled by Yahoo Finance. Sales rose 7.4 percent, to $228.2 million from $212.6 million in the 2009 period, and would have advanced 7.2 percent without the favorable effect of foreign currency translation.

The company said it expects earnings per share in the new year to land in the range of $1.15 to $1.25, above the $1.13 consensus estimate. Arden said the guidance reflects replenishment rates that “lag retail sell-through overall.”

E. Scott Beattie, chairman, president and chief executive officer, said sales of the Elizabeth Arden brand grew 13.5 percent in the fourth quarter and the company’s recent reengineering initiatives are expected “to allow us to drive revenue growth and significant double-digit earnings growth for the next few years.”

For the full year, net income was $19.5 million, or 68 cents a diluted share, versus a net loss of $6.2 million, or 22 cents, in fiscal 2009. Sales rose 3.1 percent to $1.1 billion from $1.07 billion in the prior year.

Arden’s stock ended the day at $16.04, up $1.53 or 10.5 percent, the largest advance among the 172 issues monitored by WWD.

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