posted a solid gain in fourth-quarter profit as strong overseas markets compensated for a slump in U.S. sales.
Net income rose 11% to $288.8 million, or 61 cents a share, compared with $261.3 million, or 55 cents a share, in the fourth quarter of 2003. Charges and gains offset each other in the quarter. Analysts expected 61 cents a share, according to Thomson First Call.
Sales of beauty products drove the quarterly gains, increasing 16%.
U.S. sales decreased 5%. Sales in Europe jumped 26%, while those In Latin America rose 12%.
Looking ahead, the company expects first-quarter EPS of 35 cents and full-year EPS of $1.95 to $2.00. The consensus estimates are 35 cents and $1.98, respectively.