Bare Escentuals 3Q Profit Dips Slightly
SAN FRANCISCO (AP) ¿ Mineral cosmetics manufacturer Bare Escentuals Inc. said on Thursday that its third-quarter profit fell slightly, but the results were ahead of analyst expectations and its shares rose.
The company said it earned $22.6 million, or 24 cents per share, for the quarter that ended Sept. 27. That was down about 1 percent from a profit of $22.9 million, or 25 cents per share, during the same period last year.
Revenue rose 4.2 percent to $135.7 million, from $130.2 million a year earlier.
Analysts surveyed by Thomson Reuters were expecting a profit of 21 cents per share on revenue of $131.6 million.The economy "remains challenging" but the company is pleased with the third-quarter outcome, CEO Leslie Blodgett said. Bare Escentuals shares rose $1.01, or 8.1 percent, to $13.50 in late trading. They're near their 52-week high of $12.85.
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