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Revlon Reports Fiscal 2007
Posted: February 29, 2008Revlon, Inc. reported that net sales increased for 2007 increased to $1,400.1 million, up from $1,331.4 million in 2006. Operating income increased to $121 million, compared to an operating loss of $50.2 million. Adjusted EBITDA was $224.5 million (which was reduced by $7.3 million of restructuring expenses), compared to $78.2 million in 2006 (which was reduced by $122.9 million related to Vital Radiance, executive severance and restructuring expenses).
"We are executing our strategy and our financial results in 2007 were our best in many years," said David Kennedy, president and CEO, Revlon. "We generated $224.5 million in adjusted EBITDA and our negative free cash flow was $13.8 million. Our improved financial performance was driven by increased net sales, continued benefits from our restructuring actions and ongoing control of our costs. We fully recognize the need to further improve our performance, and enter 2008 with a continued focus on increasing the value of our Company by building the Revlon brand and driving towards both profitable sales growth and positive free cash flow."
The full results are available here.