Revlon continues to focus on sustainable, profitable sales growth

05 May '08

3 min read

Revlon Inc announced results for the first quarter ended March 31, 2008.

First quarter 2008 financial highlights, compared to the first quarter of last year:
• Net sales were $320.4 million, compared to $328.6 million.
• Operating income was $32.5 million, compared to $3.0 million.
• Net loss was $2.5 million, or nil per diluted share, compared to a net loss of $35.2 million, or $0.07 per diluted share.
• Adjusted EBITDA1 was $58.1 million, compared to $32.3 million.
• Commenting on today's announcement, Revlon President and Chief Executive Officer, David Kennedy, said, “Our strong financial results for the first quarter of 2008 build upon our performance in 2007. These results continue to validate our strategy, and we remain focused on increasing the value of our Company by building the Revlon brand.”

First Quarter 2008 Results:
Net sales in the first quarter of 2008 decreased 2.5% to $320.4 million, compared to net sales of $328.6 million in the first quarter of 2007. Excluding the favorable impact of foreign currency fluctuations, net sales in the first quarter decreased 5.5% versus year-ago.

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.

In the United States, net sales in the first quarter of 2008 decreased 8.3% to $177.2 million, compared to net sales of $193.3 million in the first quarter of last year.

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