Revlon, Inc. (NYSE: REV), a worldwide cosmetics, hair color, beauty tools, fragrances, skincare, antiperspirants/deodorants and personal care products company, recently announced preliminary results for the second quarter ending June 30, 2008. In the United States, net sales in the second quarter of 2008 increased 6 percent year-over-year to $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 largely due to new product launches and higher shipments of Revlon color cosmetics.
Excluding the favorable impact of foreign currency fluctuations, Revolon’s worldwide net sales in the second quarter also posted a 6 percent year-over-year increase. The company’s net income in the second quarter of 2008 totaled roughly $20 million, or a net gain of $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.
The company’s strong preliminary results in the second quarter continue to validate Revlon’s strategy, which focuses on developing innovative, high-quality, consumer-preferred new products combined with competitive advertising and promotion to generate sustainable, profitable sales growth. Senior management remains dedicated to controlling costs and driving efficiencies throughout the company, which continue to positively impact overall margins and cash flows.
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