24 August 1998 00:00 [Source: ICB Americas]Estee Lauder Companies Inc. had strong results for the quarter and fiscal year despite weak European and Asian currency translations. The fragrances segment led increased sales with a 21 percent improvement relative to last year (25 percent exclusive of negative currency impact).
Net sales for the quarter that ended June 30 were $845 million, 9 percent higher than during 1997's fourth quarter and 13 percent higher excluding the effects of negative currency exchanges. Net earnings for the quarter were $44 million, up 20 percent relative to a year ago.
For the fiscal year, net sales were $3.6 billion, a 7 percent increase from last year (11 percent when adjusted for weak currency exchange), and net earnings were $236.8 million, 20 percent higher than in fiscal 1997.
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