Avon Products 1Q profit tumbles

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.