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Revlon Income Up in Q2 2010

Posted: July 30, 2010

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In Asia-Pacific, net sales in the second quarter of 2010 were $48.7 million, an increase of $3.2 million or 7.0%, compared to $45.5 million in the same period last year. Excluding the favorable impact of foreign currency fluctuations, net sales were essentially flat year-over-year. Lower net sales of Revlon color cosmetics in Australia were offset by higher net sales of Revlon color cosmetics throughout the rest of the region.

In Europe, Middle East and Africa, net sales in the second quarter of 2010 were $50.2 million, an increase of $4.6 million or 10.1%, compared to $45.6 million in the same period last year. Excluding the favorable impact of foreign currency fluctuations, net sales increased $3.3 million, or 7.2%. The increase was primarily due to higher net sales of Revlon color cosmetics and fragrances in South Africa and higher net sales in certain distributor markets.

In Latin America, net sales in the second quarter of 2010 were $28.7 million, an increase of $1.5 million or 5.5%, compared to $27.2 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations (including the unfavorable impact of the January 2010 devaluation of Venezuela's local currency relative to the U.S. dollar), net sales in Latin America increased $9.1 million, or 33.5%. The increase was primarily due to higher net sales of Revlon ColorSilk hair color, Revlon color cosmetics and other beauty care products in Venezuela and certain distributor markets. Higher selling prices in Venezuela, reflecting market conditions and inflation, accounted for approximately half of the $9.1 million net sales increase in the region.

In Canada, net sales in the second quarter of 2010 were $20.8 million, an increase of $3.5 million or 20.2%, compared to $17.3 million in the same period last year. Excluding the favorable impact of foreign currency fluctuations, net sales increased $1.3 million, or 7.5%. The increase was primarily due to higher net sales of Revlon color cosmetics.