Estee Lauder 4th quarter net income rises
NEW YORK (AP) — The Estee Lauder Cos. says net income rose 72 percent in the fourth quarter in what CEO Fabrizio Freda is calling the best company performance in a decade.
The beauty products maker posted net income of $41.1 million Monday, or 20 cents per share, up from $23.9 million, or 12 cents per share. Net income was 24 cents per share excluding restructuring costs. That matched analyst expectations, according to a FactSet poll.
Revenue rose 12 percent to $2.06 billion from $1.84 billion. Analysts expected net income of $2.02 billion.
Revenue rose 10 percent in the Americas, 13 percent in Europe, the Middle East & Africa and 16 percent in Asia Pacific.
The New York company says revenue reflected $42 million less in orders from international retailers ahead of implementing new software at some affiliates.