Revlon's Q2 earnings rise to US$16.4M compared with US$200,000 a year ago, as higher revenue in Asia Pacific, Latin America offset weakness in U.S.
July 30, 2010
– Beauty products company Revlon Inc. said Thursday its second-quarter profit climbed, as higher revenue in Asia Pacific and Latin America offset weakness in the U.S.
Strong sellers included Revlon-brand makeup and Revlon ColorSilk hair dye, while Almay makeup and Mitchum anti-perspirant deodorant were weaker.
Net income rose to $16.4 million, or 31 cents per share, in the April-June period compared to $200,000, or break even per share, a year earlier when it took hefty restructuring charges.
Revenue edged up nearly 2 percent to $327.7 million from $321.8 million last year.
U.S. revenue fell 4 percent to $179.3 million. Revenue rose 7 percent in Asia Pacific to $48.7 million and rose 10 percent in Europe, the Middle East and Africa to $50.2 million.
In Latin America, revenue rose 6 percent to $28.7 million.
During the quarter, Revlon, based in New York, launched several new products, including Revlon Grow Luscious mascara, Revlon Just Bitten lip balm and Almay One Coat Dial Up mascara.
It also signed actress Kate Hudson to be a spokeswoman for its Almay brand.
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