Small Sales Slip at Revlon

Revlon, Inc. posted results for the first quarter ended March 31, 2012. Net sales slipped slightly at 1% to $330.7 million; operating income stay almost flat at $44.3 million.

The first quarter of 2012 was impacted by higher net sales of Revlon color cosmetics and Revlon ColorSilk hair color, and the inclusion of the net sales of SinfulColors for a full quarter. These increases were partially offset by lower net sales of Almay color cosmetics and fragrances, as well as lower net sales in Venezuela due to the June 2011 fire at the Company’s local facility. In 2011, the results of operations from the SinfulColors acquisition were included in the consolidated financial statements commencing on the date of acquisition, March 17, 2011.

In the US, net sales decreased 0.8% to $184.7 million. Lower net sales of Almay color cosmetics and Revlon beauty tools were partially offset by the inclusion of the net sales of SinfulColors for a full quarter in 2012. In Canada, net sales rose 3.5% to $17.8 million.

In Asia Pacific, net sales rose 5.6% to $56.1 million. However, in Europe, Middle East and Africa, net sales fell 7.8% to $45.8 million.

In Latin America, net sales decreased 2.6% to $26.3 million. The increase was primarily due to higher net sales of Revlon color cosmetics and Revlon ColorSilk hair color, partially offset by lower net sales in Venezuela, where the company had not fully resumed business since the June 2011 fire.

Revlon President and Chief Executive Officer Alan T. Ennis said, “We continue to focus on driving top-line profitable growth and, in the first quarter of 2012, we grew net sales and delivered competitive margins. We remain focused on building our strong brands by launching and appropriately supporting innovative new products and we are pleased with our new product launches so far this year.”