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EARNINGS

January 30, 1986

Avon Products reported a full-year loss of $59.9 million because of a $223-million extraordinary charge resulting primarily from capital gains and other taxes and the write-off of "goodwill" related to the sale of its Mallinckrodt division. Avon's fourth-quarter net earnings were down 2% to $62.9 million. The decline was attributed to the devaluation of the Mexican peso.

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