Revlon Reports Q4 EPS of $0.68 vs. $0.23

Revlon, Inc. REV today announced results for the year and the fourth quarter ended December 31, 2010. Net sales in the fourth quarter of 2010 were $369.2 million, compared to $344.6 million in the fourth quarter of 2009, an increase of $24.6 million, or 7.1%. Excluding unfavorable foreign currency fluctuations of $6.5 million, net sales increased by 9.0%, driven primarily by higher net sales of Revlon and Almay color cosmetics. Net income in the fourth quarter of 2010 was $296.2 million, or $5.66 per diluted share. Excluding the one-time non-cash tax benefit of $260.6 million, net income in the fourth quarter of 2010 was $35.6 million or $0.68 per diluted share, compared to $12.8 million, or $0.24 per diluted share, in the same period last year. Net income in the fourth quarter of 2009 included a $13.6 million loss related to the early extinguishment of debt.