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Revlon continues to focus on sustainable, profitable sales growth
05 May '08
3 min read
As noted above, net sales in the first quarter of 2007 benefited from initial shipments of beauty care products, including the launches of Revlon Colorist hair color and Mitchum Smart Solid anti-perspirant and deodorant. Net sales of color cosmetics were slightly lower in the first quarter of 2008 compared to the year-ago period.
In the U.S., although it is still early in the launch cycle for the Company's first half 2008 new product introductions, Revlon Custom Creations foundation and Revlon ColorStay Mineral foundation were ranked in the ACNielsen top 10 new products (by retail dollar sales) in the first quarter of 2008, and three new Almay product launches were in the top 20, namely, Almay TLC Truly Lasting Color makeup and Almay Intense i-Color mascara and eye shadow.
In the Company's international operations, net sales in the first quarter of 2008 increased 5.8% to $143.2 million, compared to net sales of $135.3 million in the first quarter of last year.
Excluding the favorable impact of foreign currency fluctuations, net sales in the first quarter of 2008 decreased 1.5% compared to the same period last year, reflecting higher net sales in the Asia Pacific and Latin America regions, which were more than offset by lower net sales in the Europe region.
In the first quarter of 2007, net sales in the Europe region were positively impacted by retail space gains related to the Revlon brand and higher closeout sales.
Operating income was $32.5 million in the first quarter of 2008, versus operating income of $3.0 million in the first quarter of 2007. Net loss in the first quarter of 2008 was $2.5 million, or nil per diluted share, compared with a net loss of $35.2 million, or $0.07 per diluted share, in the first quarter of 2007. Adjusted EBITDA in the first quarter of 2008 was $58.1 million, compared to an Adjusted EBITDA of $32.3 million in the same period last year.
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In the U.S., although it is still early in the launch cycle for the Company's first half 2008 new product introductions, Revlon Custom Creations foundation and Revlon ColorStay Mineral foundation were ranked in the ACNielsen top 10 new products (by retail dollar sales) in the first quarter of 2008, and three new Almay product launches were in the top 20, namely, Almay TLC Truly Lasting Color makeup and Almay Intense i-Color mascara and eye shadow.
In the Company's international operations, net sales in the first quarter of 2008 increased 5.8% to $143.2 million, compared to net sales of $135.3 million in the first quarter of last year.
Excluding the favorable impact of foreign currency fluctuations, net sales in the first quarter of 2008 decreased 1.5% compared to the same period last year, reflecting higher net sales in the Asia Pacific and Latin America regions, which were more than offset by lower net sales in the Europe region.
In the first quarter of 2007, net sales in the Europe region were positively impacted by retail space gains related to the Revlon brand and higher closeout sales.
Operating income was $32.5 million in the first quarter of 2008, versus operating income of $3.0 million in the first quarter of 2007. Net loss in the first quarter of 2008 was $2.5 million, or nil per diluted share, compared with a net loss of $35.2 million, or $0.07 per diluted share, in the first quarter of 2007. Adjusted EBITDA in the first quarter of 2008 was $58.1 million, compared to an Adjusted EBITDA of $32.3 million in the same period last year.
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Revlon Inc
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