Mineral-based cosmetics maker Bare Escentuals Inc. said Thursday its first-quarter profit rose 27 percent on strong sales growth and reaffirmed its outlook for the full year.
Net income grew to $25.8 million, or 28 cents per share, from $20.4 million, or 22 cents per share, a year ago.
Sales rose 21 percent to $140.4 million from $115.6 million last year.
Analysts surveyed by Thomson Financial expected profit of 26 cents per share on slightly higher revenue of $141.4 million.
Looking ahead, the company reaffirmed its outlook for 2008 earnings per share of $1.13 to $1.18 on sales growth of 20 percent to 25 percent.
Wall Street, on average, is expecting earnings per share of $1.19 on sales of $635.5 million.
"We are on track to significantly expand our points of presence domestically and internationally, including our recent launch at Selfridges in London, our first department store in the United Kingdom," said Leslie Blodgett, chief executive. "At the same time, were excited about our new business initiatives, including the growth of our mineral skincare line, RareMinerals."
Shares rose 95 cents, or 4.2 percent, to close earlier at $23.76.
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