The Estée Lauder Cos. Inc. continues to set its sights abroad, as strong international sales bolstered the firm's third-quarter sales, despite sluggishness in the U.S., which resulted in a dip in profits.

The firm plans to ratchet up spending in key international markets, including Europe and Asia, said chief executive William P. Lauder.

"We will overallocate resources to these faster growing markets," Lauder told WWD. "We are going to spend money where we can get the biggest return."

Hampered by the spending pullback of cash-strapped consumers in the U.S., net income for the three months ended March 31 fell 4 percent to $90.1 million, or 46 cents a diluted share, compared with $93.9 million, or 45 cents a share, a year earlier.

Third-quarter sales gained 11.2 percent to $1.88 billion from $1.69 billion.For the first nine months, the company's net earnings dipped 1.9 percent to $353.6 million, or $1.80 a diluted share, from $360.6 million, or $1.71 a share, a year earlier, on sales that gained 11.8 percent to $5.9 billion from $5.28 billion.

The Estée Lauder Cos.' earnings call on Tuesday was the first for Fabrizio Freda, the former president of the Global Snacks Division of Procter & Gamble Co., who joined Lauder in March as president and chief operating officer with the understanding that he will move up to ceo within two years.

Freda has spent his first few months at the company on a whirlwind, global listening and learning tour. His visits with retailers, company employees and customers have included stops across the U.S., and in Russia, Asia, the Middle East and Europe, said a company spokeswoman.

Speaking to analysts on Tuesday, Freda said, "In the first few months, I am observing, listening and learning as much as possible, as fast as possible. I am working to understand how our strengths can be leveraged and how to address our key opportunities."

Freda went on to outline his initial five areas of focus. They include: putting the customer first and surpassing customer expectations; leveraging creativity and innovation; strengthening the firm's financial discipline, addressing underperforming businesses and benchmarking internationally and externally; continuing to drive the firm's strategic modernization initiative that is already under way, and, lastly, to accelerate growth in traditional prestige channels and new, fast-growing ones.