NEW YORK, February 3 (FinanceEnquiry.com) - Estee Lauder's shares dropped in pre-market trading Friday, due to new poor outlook of the company for its fiscal year. It was trading at $54.95 in pre-market trading, which was down approximately 6.6%. The company is assuming its earnings per share for the fiscal year to be $2.09 to $2.19, due to an expected fall in the foreign consumer demand and unfavorable currency rates. However, the analysts expected at least $2.20. Estee Lauder sees an EPS of 27 cents to 31 cent for its third fiscal quarter, whereas Wall Street expected it to be 41 cents.

Estee Lauder reached its expectation in the second quarter due to a strong holiday season. There was also a jump of 15% to $396.7 million in profits, compared to a year ago. The beauty company also saw an increase of 10% to $2.74 billion in its revenue, which does not include restructuring returns and charges of approximately $19.3 million.

In the fiscal second quarter, strongest growth was seen by the skin care section of Estee Lauder.  Numerous new high-end products lifted the net sales by 13% to $1.2 billion. Makeup also posted a major progress. Net sales were enhanced by 11% to $983.6 million, due to the launches of new product in the artist and heritage brands of the company.

Though there are expectations of lower demand in Europe, China, Australia, and Japan, Estee Lauder saw growth in those markets, mainly in Asia and the Pacific, where net sales increased by 21% to $620 million, in the fiscal second quarter. Net sales in Europe also rose by 5% to nearly $1 billion.