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Net Income and Sales Rise at Revlon

Profits quadruple on a 9% sales gain.

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By: TOM BRANNA

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Revlon Inc. said Thursday its profit grew more than fourfold in the first quarter, benefiting from improved sales and comparison with credit refinancing expenses that hurt results a year ago.


Net income of $10.4 million, or 20 cents per share, for the three months ended March 31, up from $2.2 million, or 4 cents per share, a year earlier.
The year-ago period included $9.7 million in expenses related to refinancing some credit agreements.

Revenue rose 9% to $333.2 million from $305.5 million, with increases in all regions. The New York company also purchased the Sinful Colors brand in March.

Revlon said its revenue was buoyed by higher sales of Revlon and Almay color cosmetics, fragrances and other beauty care products. It reported lower sales of Revlon ColorSilk hair color.

Revenue in the U.S. rose 2.3%, while Latin American revenue jumped 35%. Asia Pacific revenue increased 15.7% and sales for Europe, the Middle East and Africa rose 15.9%. Canadian revenue climbed 17.8%.

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