Avon 2001 Annual Report Download - page 18

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PAGE 42
Results of Operations by Quarter (Unaudited)
Avon Products, Inc.
In millions, except per share data
2002 First Second Third Fourth Year
Net sales $ 1,372.1 $ 1,513.5 $ 1,448.8 $ 1,836.2 $ 6,170.6
Other revenue 11.5 13.7 14.6 17.9 57.7
Gross profit* 865.1 961.9 918.8 1,138.1 3,883.9
Special charges, net — — 34.3 — 34.3
Operating profit 154.3 243.1 155.6 317.0 870.0
Income before taxes and minority interest 149.5 241.5 143.5 301.1 835.6
Income before minority interest 97.4 157.5 92.1 196.3 543.3
Net income $ 96.3 $ 155.0 $ 90.3 $ 193.0 $ 534.6
Earnings per share:
Basic $ .41 $ .66 $ .38 $ .82 $ 2.26(a)
Diluted $ .40 $ .64 $ .38 $ .80 $ 2.22(a)
*Third quarter and full year 2002 included $2.0 for inventory write-downs related to the Special charges. (See Note 13, Special charges).
2001 First Second Third Fourth Year
Net sales $ 1,346.4 $ 1,457.0 $ 1,411.7 $ 1,742.7 $ 5,957.8
Other revenue 10.6 10.2 9.7 12.0 42.5
Gross profit* 844.5 931.5 886.3 1,069.6 3,731.9
Contract settlement gain, net of related expenses — — (25.9) — (25.9)
Special charges — — — 94.9 94.9
Operating profit 145.8 236.1 200.8 190.7 773.4
Income before taxes, minority interest and
cumulative effect of accounting change 126.5 214.1 175.8 173.3 689.7
Income before minority interest and cumulative
effect of accounting change 82.0 139.4 115.2 112.8 449.4
Income before cumulative effect of accounting change 82.0 137.9 114.6 110.4 444.9
Net income $ 81.7 $ 137.9 $ 114.6 $ 110.4 $ 444.6
Earnings per share:
Basic $ .34 $ .58 $ .49 $ .47 $ 1.88(a)
Diluted $ .34 $ .57 $ .48 $ .46 $ 1.85(a)
*Fourth quarter and full year 2001 included $2.5 for inventory write-downs related to the Special charges. (See Note 13, Special charges).
(a) The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.