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Revlon Records Q3 2011

Posted: October 27, 2011

Revlon, Inc. announced results for the third quarter ended Sept. 30, 2011. Third quarter 2011 results compared to third quarter 2010 saw net sales of $337.2 million compared to $319.0 million, an increase of 5.7%. Excluding favorable foreign currency fluctuations of $6.8 million, third quarter 2011 net sales increased 3.6%. The increase was primarily driven by the inclusion of the net sales of Sinful Colors and higher net sales of Revlon color cosmetics and Revlon ColorSilk hair color, partially offset by lower net sales in Venezuela due to the June 2011 fire at the company's local facility.

"In the third quarter, we continued to execute our strategy as we grew net sales by 3.6%, maintained competitive operating income margins, and generated positive free cash flow," said Revlon president and CEO Alan T. Ennis. "From a marketplace perspective, our continued emphasis on innovation, effective brand communication and strong in-store execution positively impacted our performance. During the quarter, two of Hollywood's most sought-after actresses, Emma Stone and Olivia Wilde, joined us as global brand ambassadors for our Revlon brand. We believe that our year-to-date performance in 2011 reflects the effectiveness of our strategy. While we remain focused on delivering profitable net sales growth, we are keenly aware of the global economic environment and we continue to manage our resources carefully, with a balanced perspective on long-term growth."

In the U.S., net sales in the third quarter of 2011 were $184.7 million, an increase of $18.0 million, or 10.8%, compared to $166.7 million in the same period last year. The increase was primarily driven by the inclusion of the net sales of Sinful Colors and higher net sales of Revlon color cosmetics and Revlon ColorSilk hair color.

In Asia Pacific, net sales in the third quarter of 2011 were $58 million, an increase of $3.5 million, or 6.4%, compared to $54.5 million in the same period last year. Excluding the favorable impact of foreign currency fluctuations, net sales decreased $1.3 million, or 2.4%, primarily due to lower net sales of Revlon color cosmetics in Japan and Australia, partially offset by higher net sales of Revlon color cosmetics in China.

In Europe, Middle East and Africa, net sales in the third quarter of 2011 were $51.1 million, essentially unchanged year-over-year. Excluding the favorable impact of foreign currency fluctuations, net sales decreased $1.4 million, or 2.8%, primarily due to lower net sales of fragrances throughout most of the region.