By Martinne Geller

NEW YORK (Reuters) - Avon Products Inc (AVP.N: Quote, Profile, Research) posted a higher quarterly profit on Tuesday that topped Wall Street's view, as the weak U.S. dollar boosted international revenue and helped offset lower North American sales.

The world's biggest direct seller of cosmetics also said its North American sales decline, due mostly to the faltering U.S. economy, would moderate in the second quarter. Its shares rose more than 4 percent to their highest level since December.

Net income jumped 23 percent to $184.7 million, or 43 cents per share, in the first quarter ended March 31, from $150 million, or 34 cents per share, in the year-earlier period.

Excluding $26 million, or 4 cents per share, in costs related to a restructuring, Avon earned 47 cents per share. Analysts on average were expecting 46 cents, according to Reuters Estimates.

New York-based Avon has been trying to revive profits with a multiyear plan that includes weeding out less profitable items, cutting jobs and reducing its number of suppliers.

The company said it still anticipates annual savings of $430 million once the plan is fully implemented, expected in 2011 or 2012.

Total revenue rose about 14 percent to $2.50 billion.

Revenue rose 32 percent in Latin America, 17 percent in Central and Eastern Europe, 9 percent in the Asia-Pacific region and 17 percent in the area that includes Western Europe, the Middle East and Africa.