Oct. 16 (Bloomberg) -- Estee Lauder Cos., the maker of Clinique and Bobbi Brown cosmetics, rose the most in five months in New York trading after saying first-quarter earnings were “significantly higher” than previously forecast.

Estee Lauder advanced $1.99, or 5.1 percent, to $41.11 at 4:02 p.m. in New York Stock Exchange composite trading, the biggest gain since May 4. The shares have climbed 33 percent this year.

New products, continued growth in Asia, improved exchange rates and a boost in travel retail business resulted in better- than-anticipated net sales in the quarter ended Sept. 30, the New York-based company said today in a statement. The statement didn’t contain specific earnings projections.

The company also said it benefited from lower spending and earlier holiday shipments, which it had originally expected to fall in the second quarter. Estee Lauder said that it will report full earnings Oct. 30 and that it expects to boost its full-year forecast at that time.

Estee Lauder in August forecast first-quarter net income of 23 cents to 30 cents a share. Analysts projected adjusted earnings of 26 cents, the average of 17 estimates compiled by Bloomberg.

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net.

Last Updated: October 16, 2009 16:29 EDT