reported third-quarter earnings that beat analysts' estimates by a penny, as all geographic regions generated sales and profits in line with the company's expectations.
Net income rose to $93 million, or 39 cents a share, from $88.2 million, or 34 cents a share, in the year-ago period. According to a
First Call/Thomson Financial
survey, 12 analysts were expecting the company to earn 38 cents a share for the quarter.
Third-quarter sales rose 7% to $1.34 billion from $1.25 billion a year ago. Excluding the effects of foreign currency exchange, sales rose 10% in the quarter. Avon said results from the U.S., Latin America and Asia-Pacific regions more than offset weakness in Europe, mainly related to currency issues.