Estee Lauder reaffirmed its fiscal 2011 forecast, even as it said the devastating earthquake in Japan has affected business.

“The tragic events that have recently taken place in Japan have created issues for our business in the country and for our Japan travel retail operation,” says president and chief executive Fabrizio Freda.

The beauty-products company said it may need to reassess its outlook if the current nuclear situation deteriorates significantly.

For the year ending in June, Estee Lauder expects a profit of $3.20 to $3.43 a share, or adjusted earnings between $3.40 and $3.60 a share excluding restructuring charges. The company had raised its earnings guidance in February by 50 cents from its increased October forecast.

The company–which owns Clinique, Origins, Smashbox as well as its namesake brand–said last month its fiscal second-quarter earnings rose 34%, benefiting from strong holiday sales and a weaker U.S. dollar. The sales growth was led by its international businesses, particularly in travel retail and emerging markets.

Shares of Estee Lauder fell 1% to $87.36 premarket. As of its close at $88.15 on Thursday, the stock had risen 38% the past year.