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Estée Lauder Reports 3Q Sales Growth


NEW YORK—The Estée Lauder Companies Inc. reported strong financial results for the third quarter (3Q) ended March 31, 2011, compared with the prior-year period. The Company had net sales of $2.17 billion, a 16-percent increase compared with $1.86 billion reported in the prior year. Excluding the impact of foreign currency translation, net sales increased 15 percent from a year ago. The Company reported net earnings for the quarter of $124.7 million, compared with $57.5 million last year. Diluted net earnings per common share rose to $0.62, compared with $0.28 reported in the prior year.

Fabrizio Freda, president and chief executive officer (CEO), said, "Our results for the quarter and year to date continue to validate our strategic direction. Our focus on building enduring brand equities and on serving the global demand for prestige quality products and high-touch services is clearly resonating with consumers. Our broad and well differentiated portfolio of brands, product categories and geographies gives us the flexibility to take advantage of opportunities in stronger environments to compensate for challenges that may arise in other areas of the world. This is reflected in our results this quarter across our brands, regions and channels. With our fiscal year drawing to a close, we have the confidence to raise our full-year diluted earnings estimate to $3.55 to $3.65 per share."

The recent tragic disasters that occurred in Japan did not have a material impact on the Company's results for the quarter ended March 31, 2011. At this time, the Company estimates the Japan disasters will have a full fiscal year negative impact on total Company sales of about half a percentage point. The Company believes negative effects will continue at least for the next six to nine months and will monitor the situation and reassess its estimates should conditions change.

For the exhausted report, click here.

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