Estee Lauder expects first-quarter results to top forecast

Beauty-products company Estee Lauder Cos. said Friday that its first-quarter profit will be "significantly higher" than previously forecast as a result of better-than-expected sales, sending its shares up about 6% in early trading.

The New York-based company also said it expects to raise its per-share profit forecast, excluding items, for the year ending June 30 when it reports first-quarter results Oct. 30. It didn't quantify the upside.

In August, Estee Lauder /quotes/comstock/13*!el/quotes/nls/el (EL 41.43, +2.31, +5.91%) , which also owns other brands including Clinique and Bobbi Brown, projected a first-quarter profit excluding items of 23 cents to 30 cents a share and full-year earnings of $1.55 to $1.70 a share.

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- Posted: 2009-10-16 10:52:20

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