NEW YORK Revlon experienced strong results for the second quarter of this year, according to a statement released Thursday.
The New York-based beauty products manufacturer had a net sales increase of 7.8 percent, to $376.4 million, compared to $349.2 million in the second quarter last year. Net sales in the United States grew by 6 percent, to $216.4 million, compared to $204.2 million in 2007. Meanwhile, operating and net income were $59.4 million and $19.9 million, respectively.
U.S. growth came mostly from new product launches for 2008, particularly in color cosmetics. These include the Almay brand TLC Foundation and Smart Shade Blush and Bronzer, which the company launched earlier this year and late in 2007, respectively, as well as Revlon brand Custom Creations foundation and ColorStay Mineral foundation, both launched early this year. The company also attributed growth to initial releases of new products for the second half of 2008.
“We believe we’ve got a competitive level of brand support behind all these new product launches,” President and chief executive officer David Kennedy said in a conference call with investors Thursday.