Avon Announces 4th Quarter Earnings
February 2, 2006
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Avon Products, Inc. reported that earnings in the fourth quarter 2005 were $.40 per share, compared with 2004 fourth-quarter earnings of $.61 per share. The company said the 2005 quarter included a negative impact of $.10 per share to implement early phases of its previously announced restructuring plans. Avon stated that revenue in the fourth quarter 2005 rose 4% (3% in local currency) to $2.4 billion, and operating profit decreased 28% to $297 million, due to significant costs of $56 million associated with the early phases of the company's previously announced restructuring initiatives.