New York based Revlon Inc announced results for the second quarter and six months ended June 30, 2005. For the quarter, net sales advanced approximately 1 percent versus year-ago to $318 million, and Adjusted EBITDA(1) advanced approximately 2 percent to $24 million. Net loss in the quarter narrowed slightly to $36 million, or $0.10 per diluted share, compared with a net loss of $39 million, or $0.11 per diluted share, in the second quarter of 2004.
The Company also announced two strategic growth initiatives (SGI), designed to significantly accelerate top-line growth and further build the Company's position in the mass-market color cosmetics category.
Commenting on the results of the quarter, Revlon President and Chief Executive Officer Jack Stahl stated, "They are very pleased with their results in the second quarter and the progress they continue to make to strengthen their brands, their relationships with retail partners, and organization."
The Company indicated that one of the initiatives, focused on the Almay brand, is designed to capitalize on unmet consumer needs for simplicity and healthy beauty and builds on the inherent strengths of the Almay brand and the dramatic success achieved this year with the Almay Intense i-Color Collection. "They have listened to their consumers and have developed a completely new experience for the Almay consumer that addresses her busy lifestyle, need for simplicity, and desire for personalization," stated StephaniePeponis, Executive Vice President and Chief Marketing Officer at Revlon.
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