Revlon Reports Strong Results in Fourth Quarter

Revlon Inc. said today that fourth-quarter profits rose 13.3% on higher sales and lower expenses.

For the period ended Dec. 31, the beauty company’s net rose to $12.8 million, or 24 cents a diluted share, from $11.3 million, or 22 cents, a year earlier. Income from continuing operations totaled $48.5 million, or 94 cents a diluted share. Sales for the quarter advanced 3.1%to $344.6 million from $334.2 million.

Quarterly selling, general and administrative expenses fell to $157.2 million from $160.8 million.

“We continue to invest in our brands and had good marketplace performance,” said Alan Ennis, president and chief executive officer. “In addition, we improved our capital structure by reducing debt by $81 million and refinancing a portion of our debt, extending our nearest term maturities.”

Last year, Revlon exchanged 9.3 million shares a new preferred stock for the same number of Class A common shares, a deal that will consolidate chairman Ronald Perelman’s control of the firm.