According to the company, the primary driver of the second quarter net sales growth was higher shipments of Revlon color cosmetics, largely due to new product launches, including initial shipments of its more extensive second half 2008 new product lineup.
In the company’s international operations, net sales in the second quarter of 2008 increased 10.3% to $160 million. Each of the company’s international regions—Asia Pacific, Europe and Latin America—experienced net sales growth.
Operating income was $59.4 million, versus $16.9 million in the second quarter of 2007. Net income was $19.9 million, compared with a net loss of $11.3 million.
For the six months ended June 30, 2008, net sales increased 2.8% to $696.8 million. In the U.S., net sales decreased 1% to $393.6 million; in the company’s international operations, net sales increased 8.2% to $303.2 million. Operating income was $91.9 million in the first six months of 2008, versus $19.9 million in the first six months of 2007.