July 18, 2008
Knobias Clip Report (07-17-2008) REV
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Submitted By Knobias ClipReport
REV: Preliminary Q2 Sales & Net Income Results
Revlon, Inc. (REV) announced preliminary results for the second quarter ending June 30, 2008. Net sales in the second quarter of 2008 increased by 8% to approximately $375 million, compared to net sales of $349.2 million in the second quarter of 2007. Excluding the favorable impact of foreign currency fluctuations, net sales in the second quarter increased approximately 6% versus year-ago. In the United States, net sales in the second quarter of 2008 increased 6% to approximately $215 million, compared to net sales of $204.2 million in the second quarter of 2007. The primary driver of the second quarter net sales growth was higher shipments of Revlon color cosmetics, largely due to 2008 new product launches, including initial shipments of our more extensive second half 2008 new product lineup. Net income in the second quarter of 2008 was approximately $20 million, or $0.04 per fully diluted share, compared with a net loss of $11.3 million, or $0.02 per share, in the second quarter of 2007.
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