The Estée Lauder Companies Inc reported $1.71 billion in net sales for its fiscal first quarter ended September 30, 2007, a 7% increase over the $1.59 billion reported in the prior-year quarter. Excluding the impact of foreign currency translation, net sales rose 5%.
The Company reported net earnings from continuing operations for the quarter ended September 30, 2007 of $39.1 million, compared with $58.0 million last year.
Diluted net earnings per common share from continuing operations for the quarter were $.20 compared with $.27 reported in the prior year.
William P. Lauder, President and Chief Executive Officer said, "We have produced solid double-digit sales gains in international this quarter.
As this business remains our largest growth potential, we expect continued strong growth as we further expand our developing brands and strengthen our core brands."
"Our strategic investments are key drivers of our long-term plan to achieve profitable growth. We continued that investment pattern this quarter in our fast-moving businesses as well as established and emerging markets.
At this juncture, we remain comfortable with our ability to meet our previously announced guidance of earnings per share of $2.28 to $2.40 for the full 2008 fiscal year."
The Company reported net earnings from continuing operations for the quarter ended September 30, 2007 of $39.1 million, compared with $58.0 million last year.
Diluted net earnings per common share from continuing operations for the quarter were $.20 compared with $.27 reported in the prior year.
William P. Lauder, President and Chief Executive Officer said, "We have produced solid double-digit sales gains in international this quarter.
As this business remains our largest growth potential, we expect continued strong growth as we further expand our developing brands and strengthen our core brands."
"Our strategic investments are key drivers of our long-term plan to achieve profitable growth. We continued that investment pattern this quarter in our fast-moving businesses as well as established and emerging markets.
At this juncture, we remain comfortable with our ability to meet our previously announced guidance of earnings per share of $2.28 to $2.40 for the full 2008 fiscal year."
