Estee Lauder 2005 Annual Report Download - page 37

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THE EST{E LAUDER COMPANIES INC.
FINANCIAL HIGHLIGHTS
Percent
FORTHEFISCALYEARENDEDJUNE30 2005 2004 Change
($ in millions, except per share data)
Net Sales
†
$6,336.3 $5,790.4 9%
Operating Income
†
720.6 644.0 12%
Net Earnings from Continuing Operations*
†
406.1 375.4 8%
Net Earnings Per Common Share from Continuing Operations — Diluted*
†
1.78 1.62 10%
Total Assets $3,885.8 $3,708.1 5%
Stockholders’ Equity 1,692.8 1,733.5 (2%)
36
* Fiscal 2005 information includes the effect of an incremental tax charge of approximately $28 million, or $.12 per diluted common share, related to our
plan to repatriate foreign earnings in fiscal 2006 under the provisions of the American Jobs Creation Act of 2004. 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 restruc-
turing 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 $.01 per diluted common share. For a more detailed description of our operating
results, including the impact of these items, refer to “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
† In February 2004, we sold the assets and operations of our former reporting unit that sold jane brand products. As a result, fiscal 2004, 2003 and 2002
information has been restated to reflect that reporting unit as discontinued operations.
NET SALES*
†
($ in billions)
4.67 4.71 5.10 5.79 6.34
2001 2002 2003 2004 2005
OPERATING INCOME*
†
($ in millions)
495.6 342.1 503.7 644.0 720.6
2001 2002 2003 2004 2005
NET EARNINGS FROM
CONTINUING OPERATIONS*
†
($ in millions)
305.2 212.9 325.6 375.4 406.1
2001 2002 2003 2004 2005
A HERITAGE OF UNINTERRUPTED SALES GROWTH
1953 1972 1985 1991 2005
$100 million $1 billion $2 billion $6.3 billion