Avon 2005 Annual Report Download - page 50

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NOTES฀TO฀CONSOLIDATED฀FINANCIAL฀STATEMENTS
18RESULTS฀OF฀OPERATIONS฀฀
BY฀QUARTER฀(UNAUDITED)
2005 First Second Third Fourth Year
Net sales $1,860.9 $1,963.9 $1,865.7 $2,374.7 $8,065.2
Other revenue 20.2 20.4 20.3 23.5 84.4
Gross profit 1,182.9 1,253.9 1,161.5 1,417.6 5,015.9
Operating profit 260.5 344.0 247.1 297.4 1,149.0
Income before taxes and minority interest 253.7 340.8 242.1 287.6 1,124.2
Income before minority interest 173.9 330.5 165.1 185.0 854.5
Net income $ 172.0 $ 328.6 $ 163.8 $ 183.2 $ 847.6
Earnings per share
Basic $ .36 $ .70 $ .35 $ .40 $ 1.82
(1)
Diluted $ .36 $ .69 $ .35 $ .40 $ 1.81
(1)
2004 First Second Third Fourth Year
Net sales $1,741.4 $1,844.4 $1,784.7 $2,285.7 $7,656.2
Other revenue 23.4 21.9 21.5 24.8 91.6
Gross profit 1,098.6 1,192.5 1,126.4 1,397.8 4,815.3
Operating profit 229.4 325.5 262.8 411.3 1,229.0
Income before taxes and minority interest 224.6 315.5 258.0 389.4 1,187.5
Income before minority interest 150.7 236.1 178.8 291.3 856.9
Net income $ 148.1 $ 232.3 $ 176.9 $ 288.8 $ 846.1
Earnings per share
Basic $ .31 $ .49 $ .37 $ .61 $ 1.79
(1)
Diluted $ .31 $ .49 $ .37 $ .61 $ 1.77
(1)
(1) The sum of per share amounts for the quarters does not necessarily equal that for the year because the computations were made independently.
Fourth quarter 2005 includes costs to implement restructuring initiatives of $56.5 of which $8.4 is reflected in cost of sales and $48.1 is reflected in
marketing, distribution and administrative expenses.