Revlon 4Q Profit Rises

Revlon Inc. posted a higher fourth-quarter profit driven by sales of its new Vital Radiance line for older women and additions to its Almay line. Net profit was recorded at $64.3 million (17 cents per share) compared with $46.2 million (12 cents per share) a year earlier, which was the company’s first profitable quarter in six years. Analysts expected the cosmetics maker to earn 17 cents per share. In February, Revlon said it would cut about 165 jobs (or less than 2.5% of its work force), which was expected to result in a 2006 charge of about $10 million for severance and other costs. The company is however consolidating some jobs in its sales, marketing and creative groups, as well as some headquarters jobs, and projects annual savings of about $15 million.