Revlon's Q2 net sales up

Fri. August 01, 2008; Posted: 08:39 AM

Aug 01, 2008 (Datamonitor via COMTEX) -- REV | Quote | Chart | News | PowerRating -- Revlon, a personal care products company, has reported net sales of $376.4 million for the second quarter ended June 30, 2008, an increase of 7.8% compared to $349.2 million in the second quarter of 2007.

Operating income was $59.4 million, compared to $16.9 million in the second quarter of 2007. Net income was $19.9 million, or $0.04 per fully diluted share, compared with a net loss of $11.3 million, or a loss of $0.02 per diluted share, in the corresponding period of 2007. Adjusted EBITDA was $81.7 million, compared to $42 million in the same period of 2007.

Net sales in the first six months of 2008 increased 2.8% to $696.8 million, compared to $677.8 million in the first six months of 2007. Operating income was $91.9 million, compared to $19.9 million in the first six months of 2007.

Net income was $17.4 million, or $0.03 per fully diluted share, compared with a net loss of $46.5 million or a loss of $0.09 per share, in the first six months of 2007. Adjusted EBITDA was $139.8 million, compared to $74.3 million in the same period of 2007.

David Kennedy, president and CEO of Revlon, said: "Our strong results in the second quarter continue to validate our strategy. We continue to focus on the key drivers, including: innovative, high-quality, consumer-preferred new products; effective, integrated brand communication; competitive levels of advertising and promotion; and superb execution with our retail partners, which build our brands, particularly the Revlon brand, and generate sustainable, profitable sales growth."

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For full details on Revlon Inc (REV) click here. Revlon Inc (REV) has Short Term PowerRatings of 5. Details on Revlon Inc (REV) Short Term PowerRatings is available at This Link.

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