30 July 2008

Avon Products 2nd-quarter profit more than doubles

iWon News
Avon Products Inc. on Wednesday said second-quarter profit more than doubled as the cosmetics company recorded strong sales abroad, especially in Latin America.

The New York-based seller of beauty products said quarterly profit soared to $235.6 million, or 55 cents per share, from $112.7 million, or 26 cents per share, a year ago.

Total revenue rose 17 percent to $2.74 billion from $2.33 billion last year.

On average, analysts surveyed by Thomson Financial expected earnings of 47 cents per share on revenue of $2.6 billion. Wall Street estimates usually exclude one-time charges and gains.

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8/07/2008 04:00:00 AM  

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