Elizabeth Arden planning to continue using cash flow to delever in fiscal 2011

By Jennifer Lanning Drey

Portland, Ore., June 30 - Elizabeth Arden Inc. expects to generate strong cash flow in fiscal 2011, which it will use to continue delevering its balance sheet, E. Scott Beattie, the company's chief executive officer, said during a Wednesday presentation at the Oppenheimer & Co. Consumer, Gaming, Lodging & Leisure Conference in Boston.

Elizabeth Arden drove its cash flow performance in fiscal 2010 by improving working capital and earnings. A portion of the cash was applied to the company's revolving credit line, he said.

Additionally, Beattie said Wednesday that the company is now looking to return to "pre-economic crisis" operating margins and hopes to drive EBITDA margins to 11% over the next two years.

Elizabeth Arden is a Miramar, Fla.-based beauty products company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.