Cosmetics maker Revlon Inc.’s second quarter loss widened, due to costs of the launch of its Vital Radiance line targeted at older consumers. Revlon lost $87.1 million for the three months ended June 30 versus a loss of $35.8 million, during the same period a year ago. Revenue edged up 1% to $321.1 million from $318.3 million last year.
Revlon said the launch of its Vital Radiance cosmetics line during the quarter cut into results by $40 million. The company affirmed guidance for 2006 earnings that are even with, or somewhat below, 2005 earnings before interest, taxes, depreciation and amortization of $167 million. The 2006 forecast includes a $10 million restructuring charge related to Vital Radiance.
Revlon Loss Widens With Launch of Vital Radiance Line
Published September 8, 2006
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