Revlon Q2
This article was originally published in The Rose Sheet
Executive Summary
Net sales advanced 0.9% to $321.1 mil. for the second quarter (ended June 30), and adjusted EBITDA was a loss of $20 mil. versus prior-year period adjusted EBITDA of $24 mil., firm states in Aug. 3 release. Results are in line with preliminary estimates announced July 10, when the company projected that returns of the Vital Radiance skin care brand would hamper sales, resulting in flat revenues for the quarter and an EBITDA loss of $30 mil. (1"The Rose Sheet" July 17, 2006, p. 3). Revlon experienced an operating loss in the quarter of $45.9 mil. and a net loss of $87.1 mil., firm adds. U.S. sales were down 0.6% to $180 mil. in the quarter, and international revenues increased 3% to $141 mil. due to growth in Latin America, the firm notes...