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Byline: FROM IBD NEWS SERVICES
Beauty products giant Avon Products Inc. (New America, March 7, 2002) on Friday said it expects to report quarterly earnings slightly above its previous forecast, bolstered by strong performance abroad.
The New York-based company, whose products include Anew and Skin-So-Soft, expects to earn 41 cents a share in the first quarter, a penny ahead of its earlier forecast and that of analysts polled by First Call. It earned 40 cents a share during last year's first quarter.
"Our international regions are performing at or above our expectations," Chief Executive Andrea Jung said in a statement. "Europe again is delivering stellar results, with dollar-denominated sales and operating profit forecast to increase in the range of 35% and 50% …