Weak US results hurt Estee Lauder 3rd-quarter earnings

NEW YORK—Beauty-products maker Estee Lauder Cos. on Tuesday said third-quarter earnings fell 4 percent as strong international sales were offset by weak U.S. results.

Profit for the fiscal quarter ended March 31 fell 4 percent to $90.1 million, or 46 cents per share, compared with $93.9 million, or 45 cents per share last year. The per-share results reflect a decline in shares outstanding to 196.6 million from 208 million.

Revenue rose 11 percent to $1.88 billion from $1.69 billion, helped by the benefit of a weaker dollar. Excluding that benefit, sales rose 7 percent.

Analysts polled by Thomson Financial, on average, predicted a profit of 47 cents per share on revenue of $1.88 billion.

The New York-based company, whose brands include Clinique, Prescriptives and Bobbi Brown, reported double-digit sales gains in international operations, including increases in all product categories in Europe and Asia, while sales in the Americas rose 3 percent.

The company also raised the lower end of its fiscal-year guidance.