Avon Products Inc. said its second-quarter normalized net income came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.
EPS decreased 36.5% year over year from 17 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $45.9 million, a decrease of 36.4% from $72.2 million in the prior-year period.
The normalized profit margin declined to 2.5% from 3.3% in the year-earlier period.
Total revenue fell 16.7% on an annual basis to $1.82 billion from $2.19 billion, and total operating expenses fell 15.9% from the prior-year period to $1.72 billion from $2.04 billion.
Reported net income rose 75.2% on an annual basis to $30.5 million, or 7 cents per share, from $17.4 million, or 4 cents per share.