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Revlon Reports Losses For Third Quarter

November 22, 2005

Revlon, Inc., New York, NY, reported re-sults for the company’s third quarter and nine months ended Sept. 30, 2004. For the third quarter 2004, net sales declined about 7% to $294 million. Gross sales in the third quarter of 2004 were modestly higher. The net sales performance in the current year’s third quarter primarily reflected higher provisions for returns, allowances and discounts combined, partially offset by favorable foreign currency translation in the international segment.
Executives said adjusted EBITDA for the third quarter of 2004 grew to $26 million, compared to $15 million in the prior-year period. Revlon also reconfirmed its previous guidance of achieving adjusted EBITDA of about $190 million in 2004.
Operating loss was $2 million for the third quarter, compared to an operating loss of $7.9 million a year ago. Revlon also reported a net loss of $91.6 million in the third quarter of 2004, compared to a net loss of $54.7 million in the third quarter 2003.
For the first nine months of 2004, operating income was $16.3 million compared to an operating loss of $15.2 million in the prior-year period. The company reported a net loss of $188.7 million for the first nine months of 2004, compared to a net loss of $141.2 million in the first nine months of 2003.
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