Avon Products 1Q profit tumbles
Avon reported net income of $26.5 million, or 6 cents per share, for the period ended March 31, 2012. (July 28, 2010) Credit: AP
The New York beauty company, whose brands include Anew and mark, reported net income of $26.5 million, or 6 cents per share, for the period ended March 31.
That's down from $143.6 million, or 33 cents per share, a year earlier.
Excluding one-time items, earnings were 10 cents per share. Analysts expected earnings of 28 cents per share.
Revenue slipped 2 percent to $2.58 billion but beat Wall Street's estimate of $2.52 billion.
Fragrance and skin care sales dipped 1 percent, while sales of personal care products fell 2 percent on a reported basis.
Out East Show: Westhampton Beach Brew & Grille, Hallockville Museum Farm Bees, North Fork Foodie Tour, Southampton Animal Shelter Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Westhampton Beach Brew & Grille, Hallockville Museum Farm Bees, North Fork Foodie Tour, Southampton Animal Shelter Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
