Avon reports 4Q loss

AP News
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Posted: Feb 16, 2017 11:29 AM

NEW YORK, N.Y. (AP) — Avon Products Inc. is reporting a loss of $10.7 million in its fourth quarter.

On a per-share basis, the New York, New York-based company said it had a loss of 4 cents. Earnings, adjusted for pretax expenses and restructuring costs, came to 1 cent per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The direct seller of cosmetics posted revenue of $1.57 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.6 billion.

For the year, the company reported that its loss narrowed to $107.6 million, or 29 cents per share. Revenue was reported as $5.72 billion.