| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| $0.50 | $0.50 | $0.45
|
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Estee Lauder(EL Quote - Cramer on EL - Stock Picks) posted second-quarter earnings that were in line with analysts' expectations, amid higher sales in cosmetics, skin-care and hair-care products.
But investors didn't buy the pretty picture, as shares of the company dipped $1.70, or 4.2%, to $38.75, after being halted in morning trading on the
New York Stock Exchange.
Estee Lauder, which said holiday retail sales fell below expectations, earned $127.3 million, or 50 cents a share, compared with $113.9 million, or 45 cents a share, in the same period last year. Analysts on average expected 50 cents a share for the latest quarter, according to
First Call/Thomson Financial.
Revenue for the quarter was $1.29 billion, up 5% from $1.24 billion last year.
The New York-based company also projected 8% to 10% growth in sales for the third quarter of fiscal 2001, on earnings of 23 cents to 25 cents a share. For fiscal 2001, the company expects earnings of $1.32 to $1.35 a share. Analysts on average see third-quarter earnings of 25 cents a share and 2001 earnings of $1.36 a share.
Yi Ping Ho
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