NEW YORK — Revlon announced on Thursday an upswing in third-quarter net sales due in part to higher sales of Revlon color cosmetics and Revlon ColorSilk hair color.
Net sales in the quarter totaled $337.2 million, up 5.7%, compared with $319 million in the year-ago period. Excluding favorable foreign currency fluctuations, net sales increased 3.6%. The beauty company noted that the increase was primarily driven by the inclusion of the net sales of Sinful Colors and higher sales of Revlon color cosmetics and Revlon ColorSilk hair color, partially offset by lower net sales in Venezuela due to the June 2011 fire at the company’s local facility.
In the United States, net sales totaled $184.7 million, up 10.8% compared with $166.7 million in the year-ago period.
Including a provision for income taxes of $22.1 million, net income during the quarter was $0.1 million, or nil per diluted share, compared with net income of $12.5 million, or 24 cents per diluted share, in the year-ago period. Last year, the quarter benefited from incomes taxes of $0.6 million.
“In the third quarter, we continued to executive our strategy as we grew net sales by 3.6%, maintained competitive operating income margins, and generated positive free cash flow,” stated Alan Ennis, president and CEO. “From a marketplace perspective, our continued emphasis on innovation, effective brand communication and strong in-store executive positively impacted our performance. During the quarter, two of Hollywood’s most sough-after actresses, Emma Stone and Olivia Wilde, joined us as global brand ambassadors for our Revlon brand.”