Estee Lauder 2009 Annual Report Download - page 100

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THE EST{E LAUDER COMPANIES INC. 99
YEAR ENDED JUNE 30 2009 2008 2007
(In millions)
NET SALES
By Region:
The Americas $3,421.2 $3,711.5 $3,560.9
Europe, the Middle East & Africa 2,611.3 3,006.7 2,493.4
Asia/Pacifi c 1,299.4 1,192.6 983.2
Returns associated with restructuring activities (8.1) — —
$7,323.8 $7,910.8 $7,037.5
By Product Category:
Skin Care $2,886.0 $2,996.8 $2,601.0
Makeup 2,830.9 3,000.4 2,712.7
Fragrance 1,150.9 1,432.0 1,308.6
Hair Care 402.4 427.1 377.1
Other 61.7 54.5 38.1
Returns associated with restructuring activities (8.1) — —
$7,323.8 $7,910.8 $7,037.5
OPERATING INCOME (LOSS)
By Region:
The Americas $ 115.2 $ 228.3 $ 336.4
Europe, the Middle East & Africa 229.7 433.1 321.4
Asia/Pacifi c 165.2 149.7 93.2
Total charges associated with restructuring activities (91.7) (0.4) (1.1)
$ 418.4 $ 810.7 $ 749.9
By Product Category:
Skin Care $ 294.1 $ 405.6 $ 341.5
Makeup 279.8 359.4 339.3
Fragrance (60.8) 36.2 28.1
Hair Care 1.1 11.5 42.5
Other (4.1) (1.6) (0.4)
Total charges associated with restructuring activities (91.7) (0.4) (1.1)
$ 418.4 $ 810.7 $ 749.9
The following table presents certain consolidated earnings data as a percentage of net sales:
YEAR ENDED JUNE 30 2009 2008 2007
Net sales 100.0% 100.0% 100.0%
Cost of sales 25.7 25.2 25.2
Gross profi t 74.3 74.8 74.8
Operating expenses:
Selling, general and administrative 66.7 64.3 64.0
Restructuring and other special charges 1.0 0.0 0.0
Goodwill impairment 0.2 — 0.1
Impairment of intangible and other long-lived assets 0.7 0.2 0.0
68.6 64.5 64.1
Operating income 5.7 10.3 10.7
Interest expense, net 1.0 0.9 0.6
Earnings before income taxes, minority interest and discontinued operations 4.7 9.4 10.1
Provision for income taxes 1.6 3.3 3.6
Minority interest, net of tax (0.1) (0.1) (0.1)
Net earnings from continuing operations 3.0 6.0 6.4
Discontinued operations, net of tax — — 0.0
Net earnings 3.0% 6.0% 6.4%