Coty Inc. (COTY) announced a profit for second quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line came in at $20.4 million, or $0.02 per share. This compares with $177.6 million, or $0.20 per share, last year.
Excluding items, Coty Inc. reported adjusted earnings of $98.8 million or $0.11 per share for the period.
Analysts on average had expected the company to earn $0.21 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 3.4% to $1.669 billion from $1.727 billion last year.
Coty Inc. earnings at a glance (GAAP) :
-Earnings: $20.4 Mln. vs. $177.6 Mln. last year.
-EPS: $0.02 vs. $0.20 last year.
-Revenue: $1.669 Bln vs. $1.727 Bln last year.
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