Elizabeth Arden Inc. announced unaudited consolidated financial results for its first quarter ended September 30, 2009. For the quarter, the company reported net sales of $265.2 million, a decrease of 6.7%, as compared to the first quarter of the prior fiscal year. Excluding the unfavorable impact of foreign currency translation, net sales decreased by 5.0%. Net income per diluted share was $0.00 as compared to a net loss per diluted share of $0.45 for the prior year period. Excluding restructuring and other expenses associated with the company's Global Efficiency Re-engineering initiative, net income per diluted share for the three months ended September 30, 2009 was $0.05, as compared to net income per diluted share of $0.11 for the prior year period. The prior year period also excludes expenses and non-cash charges related to the Liz Claiborne license agreement. Income before income taxes was $57,000 against loss of $15,888,000 last year. EBITDA was $12.9 million against negative EBITDA of $2.9 million last year. EBITDA as adjusted was $14.9 million against $17.2 million last year. Net cash outflow from operating activities was $59.9 million against $94.5 million last year. For the second quarter of fiscal 2010, the company expects net sales of $380 million to $390 million and net income per diluted share of $0.65 to $0.75. The net sales guidance for the second fiscal quarter assumes a favorable impact from foreign currency translation of approximately 2.5% as compared to the prior year period. The company is updating its annual net sales and earnings guidance for the fiscal year ending June 30, 2010, and now expects a net sales increase of 2.5% to 3.5%, as compared to the prior fiscal year, and earnings per diluted share to be in the range of $0.55 to $0.65.

Pursuant to an amendment to Section 607.0728 of the Florida Business Corporation Act that became effective on October 1, 2009, Florida corporations are permitted to adopt majority voting for the election of directors through an amendment to their bylaws. On October 27, 2009, the board of directors of Elizabeth Arden Inc. adopted amended and restated bylaws to provide that, in an uncontested election for directors, a director would need to receive a majority of the votes cast at the annual meeting of shareholders in order to be elected to the Board. The amended bylaws also provide that in a contested election, a director would need to receive a plurality of the votes cast at the annual meeting of shareholders in order to be elected to the board. The amended bylaws are effective January 1, 2010. In conjunction with the adoption of the amended bylaws, the board amended and restated the company's corporate governance guidelines and principles, effective January 1, 2010, to implement a policy that any director who is not re-elected to the board in an uncontested election by the requisite majority of votes cast at an annual meeting of shareholders submit his/her resignation to the Board. The amended bylaws require the nominating and corporate governance committee to then recommend to the board whether to accept or reject the resignation, or whether other action should be taken. The amended bylaws provide that the board will act on the nominating and corporate governance committee's recommendation and publicly disclose the board's decision within 90 days from the date of the certification of the election results.

Elizabeth Arden, Inc. expected to Report Q2 2010 Results on January 28, 2010. This event was calculated by Capital IQ (Created on October 29, 2009).