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VENTURA COUNTY BUSINESS | VENTURA COUNTY EARNINGS

Jafra Lists Net Loss of $1 Million for Quarter

May 23, 2000

CDRJ Investments and its subsidiaries, doing business as Jafra Cosmetics International in Westlake Village, reported a net loss of just over $1 million for the first quarter ended March 31, compared with net income of $300,000 a year earlier.

Sales for the quarter were $71.7 million, up 6% compared with $68 million a year ago. The company ended the quarter with 304,000 consultants, up 15% from the 265,000 a year earlier. Approximately 25% of the consultant growth came in Brazil, which added 9,700 consultants in the past year.

Company officials said that selling, general and administrative expenses for the first quarter included about $1.8 million in costs for a major sales promotional event to launch the Skin Care 2000 line and announce the Jafra e-commerce program.

Gonzalo Rubio, Jafra's president and chief operating officer, said the decision to focus on South America is paying off.

"Both Venezuela and Argentina achieved double-digit sales growth in the first quarter," Rubio said. "Sales growth in Brazil exceeded our expectations, and they have become our third-largest market in terms of consultant base in just over one full year of operations."

Jafra manufactures skin and body care products, color cosmetics, fragrances and other personal care products. It markets its products through a direct selling, multilevel distribution system of self-employed salespeople.

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