Estee Lauder 2004 Annual Report Download - page 38

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THE EST{E LAUDER COMPANIES INC. 36
FINANCIAL HIGHLIGHTS
* Fiscal 2003 information includes the effect of a special charge of $22.0 million ($13.5 million after tax), or $.06 per diluted common share, related to the
proposed settlement of a legal action. Fiscal 2002 information includes the effect of restructuring charges of $117.4 million or $76.9 million after tax
(of which $0.5 million after tax was included in discontinued operations) or $.32 per diluted common share. Fiscal 2001 information is reported
after considering the effect of restructuring and special charges of $63.0 million ($40.3 million after tax), or $.17 per diluted common share,
and after the cumulative effect of adopting a new accounting principle in the amount of $2.2 million after tax, or $.01 per diluted common share. For a
more detailed description of our operating results, including the impact of these items, refer to “Management’s Discussion and Analysis of Financial
Condition and Results of Operations.”
† In February 2004, we sold the assets and operations of our former reporting unit that sold jane brand products. As a result, fiscal 2004, 2003 and 2002
information has been restated to reflect that reporting unit as discontinued operations.
A HERITAGE OF UNINTERRUPTED SALES GROWTH
1953 1972 1985 1991 2004
$100 million $1 billion $2 billion $5.8 billion
NET SALES*
†
(Dollars in billions)
4.44 4.67 4.71 5.10 5.79
2000 2001 2002 2003 2004
OPERATING INCOME*
†
(Dollars in millions)
515.8 495.6 342.1 503.7 644.0
2000 2001 2002 2003 2004
NET EARNINGS FROM
CONTINUING OPERATIONS*
†
(Dollars in millions)
314.1 305.2 212.9 325.6 375.4
2000 2001 2002 2003 2004
Percent
YEAR ENDED JUNE 30 2004 2003 Change
(Dollars in millions, except per share data)
Net Sales
†
$5,790.4 $5,096.0 14%
Operating Income*
†
644.0 503.7 28%
Net Earnings from Continuing Operations*
†
375.4 325.6 15%
Net Earnings Per Common Share from Continuing Operations — Diluted*
†
1.62 1.29 26%
AT JUNE 30
Total Assets $3,708.1 $3,349.9 11%
Stockholders’ Equity 1,733.5 1,423.6 22%