Revlon Q2 Sales Rise Modestly

Revlon Inc REV reported net sales of $488.9 million for the second quarter representing an increase of 1.3 percent from the last year same quarter. Excluding the impact of foreign currency, its sales would have recorded a growth of 3.5 percent.

Its reported net income was $8.3 million or $0.16 a share including the impact of $6.4 million of non-operating and unusual items. On an adjusted basis, its net income was $14.7 million in the second quarter representing a drop of $14.3 million from the previous year quarter mainly fueled by foreign currency losses on intercompany loans in the latest period. Its adjusted EPS was $0.28.

Revlon President and CEO, Fabian Garcia, commented about the results saying, "Growth was driven by product innovation and strong performance by established brands in both the Consumer and Professional segments and in International territories. Among other growth drivers, we are delighted by the continued strength of Revlon's flagship brand which has posted year-to-date consumption growth of 3.9%, outperforming the color cosmetic mass category."

On Thursday, the stock closed with a gain of $0.12 or 0.36 percent at $33.26.