ELIZABETH ARDEN, INC.
[Red Door Logo]
FOR IMMEDIATE RELEASE
ELIZABETH ARDEN, INC. FILES NEW SHELF REGISTRATION STATEMENT
FOR SALE OF COMMON STOCK
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New York, New York (February 2, 2004) Elizabeth Arden, Inc. (NASDAQ:
RDEN), a global prestige fragrance and beauty products company, today
announced that it has filed a new shelf registration statement with the
Securities and Exchange Commission for the sale of up to $150 million of
common stock of the Company, which will replace the Company's existing and
effective shelf registration statement. Approximately $20.0 million of common
stock remained unsold under the existing shelf registration statement.
In addition to registering common stock for sale by the Company, the
purpose of the new registration statement is to register the remaining common
stock to be issued upon conversion of the Series D Convertible Preferred Stock
of the Company currently owned by Unilever. Unilever can convert its existing
Series D Convertible Preferred stock into 2,269,540 shares of common stock.
The Company will not receive any proceeds from the sale of common stock by
Unilever.
Under the new shelf registration statement, the Company and/or the
selling shareholder may sell up to an aggregate of $150 million of common
stock from time to time in one or more offerings. The Company currently has no
immediate plans to sell common stock but intends to evaluate market conditions
over time. Proceeds to the Company from an offering would be used for general
corporate purposes, including the repayment of debt.
A registration statement relating to these securities has been filed with
the Securities Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
When available, a prospectus and prospectus supplement relating to the
common stock to be sold may be obtained from Elizabeth Arden, Inc., 200 First
Stamford Place, Stamford, Connecticut 06902, Attention: Investor Relations.
Elizabeth Arden is a global prestige fragrance and beauty products
company. The Company's portfolio of leading brands includes the fragrance
brands Red Door, Red Door Revealed, Elizabeth Arden green tea, 5th Avenue,
ardenbeauty, Elizabeth Taylor's White Diamonds, Passion, Forever Elizabeth and
Gardenia, White Shoulders, Geoffrey Beene's Grey Flannel, Halston, Halston
Z-14, Unbound, PS Fine Cologne for Men, Design and Wings; the Elizabeth Arden
skin care line, including Ceramide and Eight Hour Cream; and the Elizabeth
Arden cosmetics line.
Company Contact: Marcey Becker
Senior Vice President, Finance
(203) 462-5809
Investor Contact: Cara O'Brien/Lila Sharifian
Financial Dynamics
(212) 850-5600
Press Contact: Stephanie Sampiere
Financial Dynamics
(212) 850-5600
In connection with the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995, Elizabeth Arden, Inc., is hereby providing
cautionary statements identifying important factors that could cause our
actual results to differ materially from those projected in forward-looking
statements (as defined in such act). Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives, assumptions or
future events or performance (often, but not always, through the use of words
or phrases such as "will likely result," "are expected to," "will continue,"
"is anticipated," "estimated," "intends," "plans" and "projection") are not
historical facts and may be forward-looking and may involve estimates and
uncertainties which could cause actual results to differ materially from those
expressed in the forward-looking statements. Accordingly, any such statements
are qualified in their entirety by reference to, and are accompanied by, the
following key factors that have a direct bearing on our results of operations:
our substantial indebtedness and debt service obligations; our ability to
successfully and cost-effectively integrate acquired businesses or new brands;
our absence of contracts with customers or suppliers and our ability to
maintain and develop relationships with customers and suppliers; international
and domestic economic and business changes that could impact consumer
confidence; our customers' financial condition; our ability to access capital
for acquisitions; the assumptions underlying our critical accounting
estimates; the retention and availability of key personnel; changes in the
retail, fragrance and cosmetic industries; our ability to launch new products
and implement our growth strategy; the impact of competitive products and
pricing; changes in product mix to less profitable products; risks of
international operations, including foreign currency fluctuations; economic
and political consequences of terrorist attacks and political instability in
certain regions of the world; diseases affecting customer purchasing patterns,
delays in shipments, inventory shortages and higher costs of production due to
interruption of operations at key manufacturing or fulfillment facilities
that, after consolidations of manufacturing and fulfillment locations,
manufacture or provide logistic services for the majority of our supply of
certain products; changes in the legal, regulatory and political environment
that impact, or will impact, our business, including changes to customs or
trade regulations or accounting standards; legal and regulatory proceedings
that affect, or will affect, our business; and other risks and uncertainties.
We caution that the factors described herein could cause actual results to
differ materially from those expressed in any forward-looking statements we
make and that investors should not place undue reliance on any such
forward-looking statements. Further, any forward-looking statement speaks
only as of the date on which such statement is made, and we undertake no
obligation to update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made or to reflect the
occurrence of anticipated or unanticipated events or circumstances. New
factors emerge from time to time, and it is not possible for us to predict all
of such factors. Further, we cannot assess the impact of each such factor on
our results of operations or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from those contained
in any forward-looking statements.