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All Segments Grow for Revlon, Post Arden Acquisition

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Revlon will realize significant cost synergies following its Arden acquisition.

Following its acquisition of Elizabeth Arden, Revlon has reported net sales of $604.8 million in the third quarter of 2016, a 28.3% increase over the same period in 2015. On a pro forma basis, net sales were $745.1 million, a 1.0% increase. However, the total company reported a net loss for the period of $4.7 million.

Total company adjusted EBITDA was $113.4 million in the third quarter of 2016, a 34.8% increase over the prior year quarter.

"During the third quarter we completed our acquisition of Elizabeth Arden and began to develop our new organizational structure that is designed to enable us to drive future global growth."

Notably, the company now says it will be able to deliver "$140 million of multi-year synergies and cost reduction estimates" as a result of the Arden purchase.

"All four of our reporting segments, Consumer, Professional, Elizabeth Arden and our Other segment, delivered XFX net sales growth in the quarter, with Elizabeth Arden and the Professional businesses realizing increases in both of the North America and international regions,” said Revlon president and CEO, Fabian Garcia. “During the third quarter we completed our acquisition of Elizabeth Arden and began to develop our new organizational structure that is designed to enable us to drive future global growth."

 

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