Estee Lauder 2009 Annual Report Download - page 155

Download and view the complete annual report

Please find page 155 of the 2009 Estee Lauder annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 164

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164

The Company is domiciled in the United States. Net sales in the United States in fi scal 2009, 2008 and 2007 were
$3,020.4 million, $3,276.2 million and $3,224.5 million, respectively. The Company’s long-lived assets in the United States
at June 30, 2009, 2008 and 2007 were $612.3 million, $597.8 million and $520.1 million, respectively.
NOTE 21 — UNAUDITED QUARTERLY FINANCIAL DATA
The following summarizes the unaudited quarterly operating results of the Company for the years ended June 30, 2009 and 2008:
Quarter Ended
September 30 December 31 March 31(1) June 30
(2) Total Year
(In millions, except per share data)
Fiscal 2009
Net sales $1,903.5 $2,041.0 $1,696.5 $1,682.8 $7,323.8
Gross profi t 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) 51.1 158.0 27.2 (17.9) 218.4
Net earnings (loss) per common share:
Basic .26 .80 .14 (.09) 1.11
Diluted .26 .80 .14 (.09) 1.10
Fiscal 2008
Net sales $1,710.1 $2,308.8 $1,879.8 $2,012.1 $7,910.8
Gross profi t 1,254.3 1,730.3 1,407.9 1,521.5 5,914.0
Operating income 77.9 370.5 161.2 201.1 810.7
Net earnings 39.1 224.4 90.1 120.2 473.8
Net earnings per common share:
Basic .20 1.16 .47 .62 2.44
Diluted .20 1.14 .46 .61 2.40
(1) Fiscal 2009 third quarter results include 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).
(2) 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, intangible asset and other 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).
154 THE EST{E LAUDER COMPANIES INC.