Estee Lauder 2010 Annual Report Download - page 151

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150 THE EST{E LAUDER COMPANIES INC.
NOTE 21
—
UNAUDITED QUARTERLY FINANCIAL DATA
The following summarizes the unaudited quarterly operating results of the Company for the years ended June 30, 2010
and 2009:
Quarter Ended
September 30(1) December 31(2) March 31(3) June 30(4) Total Year
(In millions, except per share data)
Fiscal 2010
Net Sales $1,833.4 $2,262.3 $1,860.0 $1,840.1 $7,795.8
Gross Profit 1,388.3 1,736.9 1,415.4 1,425.8 5,966.4
Operating Income 220.4 399.6 126.3 43.6 789.9
Net Earnings Attributable to
The Estée Lauder Companies Inc. 140.7 256.2 57.5 23.9 478.3
Net earnings attributable to
The Estée Lauder Companies Inc.
per common share:
Basic .72 1.30 .29 .12 2.42
Diluted .71 1.28 .28 .12 2.38
Fiscal 2009
Net Sales $1,903.5 $2,041.0 $1,696.5 $1,682.8 $7,323.8
Gross Profit 1,403.4 1,533.0 1,250.1 1,255.7 5,442.2
Operating Income (loss) 92.5 270.3 70.3 (14.7) 418.4
Net Earnings (loss) Attributable to
The Estée Lauder Companies Inc. 51.1 158.0 27.2 (17.9) 218.4
Net earnings (loss) attributable to
The Estée Lauder Companies Inc.
per common share:
Basic .26 .80 .14 (.09) 1.11
Diluted .26 .80 .14 (.09) 1.10
(1) Fiscal 2010 first quarter results include charges associated with restructuring activities of $42.3 million ($27.3 million after tax, or $.14 per diluted
common share).
(2) Fiscal 2010 second quarter results include charges associated with restructuring activities of $0.3 million and goodwill and other intangible asset
impairment charges of $45.6 million ($29.7 million after tax, or $.14 per diluted common share).
(3) Fiscal 2010 third quarter results include charges associated with restructuring activities of $16.5 million ($11.4 after tax, or $.06 per diluted common
share). Fiscal 2009 third quarter results include other intangible asset impairment charges of $14.6 million ($13.8 million after tax, or $.07 per
diluted common share) and restructuring and other special charges of $6.2 million ($4.2 million after tax, or $.02 per diluted common share).
(4) Fiscal 2010 fourth quarter results include charges associated with restructuring activities of $25.6 million ($16.8 million after tax, or $.08 per diluted
common share), other intangible asset and long-lived asset impairment charges of $2.8 million ($1.8 million after tax, or $.01 per diluted common
share), and interest expense on debt extinguishment of $27.3 million ($17.5 million after tax, or $.09 per diluted common share). Fiscal 2009 fourth
quarter results include charges associated with restructuring activities of $85.1 million ($57.2 million after tax, or $.29 per diluted common share),
goodwill, other intangible asset and long-lived asset impairment charges of $48.5 million ($32.1 million after tax, or $.16 per diluted common
share), and certain out-of-period adjustments of $9.6 million ($3.9 million after tax, or $.02 per diluted common share).
NOTE 22
—
SUBSEQUENT EVENT
On July 1, 2010, the Company acquired Smashbox Beauty Cosmetics, a privately held, photo studio inspired prestige
cosmetics company based in Los Angeles.