Coty has announced its financial statement for the first quarter of fiscal year 2015, ended September 30th 2014. 

Here’s the highlights:

• Net revenues of $1,182.3 million increased 1% like-for-like and were flat as reported


• Adjusted operating income of $167.1 million decreased from $186.1 million in the prior year period


• Reported net income of $10.6 million decreased from $93.5 million in the prior-year period primarily due to expense on early extinguishment of debt and restructuring charges


• Adjusted net income of $103.0 million decreased from $108.3 million in the prior-year period


• Adjusted earnings per diluted share of $0.28 were flat with the prior-year period


• Net cash provided by operating activities was $26.2 million compared to $101.2 million in the prior-year period

Bart Becht, chairman /  interim CEO, commented:

“Q1 was a quarter of good strategic progress but mixed financial results. Our strategy of focusing on our power brands showed signs of progress, as power brands’ revenues grew mid-single digits due to exciting innovations like Sally Hansen Miracle Gel or Marc Jacobs Daisy Dream as well as higher support levels.”

He continued:

“While power brands, accounting for over 70% of revenues, showed strong growth, total company growth was just 1% on a like-for-like basis due to revenue declines on the balance of our portfolio. While adjusted operating profits for the quarter were lower primarily due to higher power brand support levels, adjusted EPS was flat due to a lower tax rate compared to the prior year and the benefits from our Share Repurchase Program.”