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Revlon Inc narrows Q2 losses, announces SGI
06 Aug '05
10 min read
The Company narrowed its operating loss in the quarter to $0.3 million, versus an operating loss of $1.8 million in the second quarter of 2004. This improvement largely reflected the growth in net sales and lower brand support, partially offset by the impact of the aforementioned licensing benefit in the year-ago period and higher general and administrative expenses, including upfront development costs associated with the initiatives.
Adjusted EBITDA in the second quarter advanced 2 percent to $24.2 million, compared with Adjusted EBITDA of $23.7 million in the second quarter of 2004. This performance was driven by largely the same factors as those that impacted the operating income comparison. Adjusted EBITDA is a non-GAAP measure that is defined in the footnotes of this release and which is reconciled to net income/(loss), the most directly comparable GAAP measure, in the accompanying financial tables.
Net loss in the second quarter was $35.8 million, or $0.10 per diluted share, compared with a net loss of $38.9 million, or $0.11 per diluted share, in the second quarter of 2004. Cash flow used for operating activities in the second quarter of 2005 was $39.2 million, compared with cash flow used for operating activities of $64.5 million in the second quarter of 2004.
In terms of U.S. marketplace performance, according to ACNielsen(3), the color cosmetics category for the quarter advanced 2.8 percent versus the same period last year. For the first six months of 2005, the category advanced 2.2 percent versus year-ago. Combined share for the Revlon and Almay brands advanced 0.5 share points versus year-ago to 22.3 percent in the second quarter.
Adjusted EBITDA in the second quarter advanced 2 percent to $24.2 million, compared with Adjusted EBITDA of $23.7 million in the second quarter of 2004. This performance was driven by largely the same factors as those that impacted the operating income comparison. Adjusted EBITDA is a non-GAAP measure that is defined in the footnotes of this release and which is reconciled to net income/(loss), the most directly comparable GAAP measure, in the accompanying financial tables.
Net loss in the second quarter was $35.8 million, or $0.10 per diluted share, compared with a net loss of $38.9 million, or $0.11 per diluted share, in the second quarter of 2004. Cash flow used for operating activities in the second quarter of 2005 was $39.2 million, compared with cash flow used for operating activities of $64.5 million in the second quarter of 2004.
In terms of U.S. marketplace performance, according to ACNielsen(3), the color cosmetics category for the quarter advanced 2.8 percent versus the same period last year. For the first six months of 2005, the category advanced 2.2 percent versus year-ago. Combined share for the Revlon and Almay brands advanced 0.5 share points versus year-ago to 22.3 percent in the second quarter.
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