(Source: Datamonitor)
Avon Products, a manufacturer and marketer of beauty and related products, has reported a net income attributable to the company of $156.2 million, or $0.36 per share, for the third quarter ended September 30, 2009, down 30%, compared to $222.6 million, or $0.52 per share, in the third quarter of 2008.
For the third quarter of 2009, total revenue were $2.55 billion, down 4%, compared to $2.64 billion in the same quarter of 2008.
For the first nine months of 2009, total revenue was $7.2 billion, down 9%, compared to $7.88 billion in the same period of 2008. Net income attributable to the company was $356.4 million, or $0.83 per diluted share, down 45%, compared to $642.9 million, or $1.49 per diluted share, in the same period of 2008.
Andrea Jung, chairman and CEO of Avon Products, said: "We are pleased with the third quarter's 7% local-currency-revenue growth, particularly in this economic environment. Our broad-based strength is proof that our strategies to focus on representative recruiting and Avon's 'smart value' products are working. Active representatives and beauty revenue both grew strongly as we expanded representative coverage and beauty market share across our portfolio."
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