Estee Lauder 2003 Annual Report Download - page 82

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THEEST{E LAUDER COMPANIES INC.81
NOTE 19 – UNAUDITED QUARTERLY FINANCIAL DATA
The following summarizes the unaudited quarterly operating results of the Company for the years ended June 30, 2003
and 2002:
September 30 December 31 March 31 June 30 Total Year
(In millions, except per share data)
Fiscal 2003
Net sales $1,242.5 $1,412.7 $1,239.4 $1,223.0 $5,117.6
Gross profit 885.4 1,041.3 922.8 932.4 3,781.9
Operating income 114.4 170.0 127.8 82.9 495.1
Net earnings 73.4 109.6 83.8 53.0 319.8
Basic EPS .29 .45 .34 .21 1.27
Diluted EPS .28 .44 .33 .20 1.26
Fiscal 2002
Net sales $1,194.8 $1,298.2 $1,121.7 $1,129.0 $4,743.7
Gross profit 849.5 954.9 803.4 862.5 3,470.3
Operating income (loss) 152.9 143.5 81.1 (36.1) 341.4
Net earnings (loss) 97.1
(a)
90.1 50.7 (25.4) 212.5
(a)
Basic EPS .30
(a)
.35 .19 (.13) .71
(a)
Diluted EPS .30
(a)
.35 .19 (.13) .70
(a)
(a)Net earnings for the Quarter ended September 30, 2001 includes a one-time charge of $20.6 million or $.08 per common share, attributable to the
cumulative effect of adopting SFAS No. 142, “Goodwill and Other Intangible Assets.”
NOTE 20 – UNAUDITED SUBSEQUENT EVENT
Pursuant to the Company’s authorized share repurchase program, subsequent to June 30, 2003, the Company purchased
an additional 0.4 million shares of Class A Common Stock for $12.3 million bringing the cumulative total of acquired
shares to 14.2 million under this program.
Subsequent to June 30, 2003, the Company acquired the Rodan & Fields skin care line. The initial purchase price,
paid at closing, was funded by cash provided by operations, the payment of which did not have a material effect on the
Company’s results of operations or financial condition. The Company expects to make additional payments between
fiscal 2007 and 2011 based on certain conditions.
Quarter Ended