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Despite Fourth Quarter Decreases, Revlon Financials Up in 2011

Posted: February 17, 2012

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As previously announced, in June 2011, the company’s facility in Venezuela was destroyed by fire. The company’s subsidiary in Venezuela represented approximately 2% and 3%, respectively, of the company’s consolidated net sales for the years ended Dec. 31, 2011 and 2010. As of Dec. 31, 2011, Revlon Venezuela had not fully resumed business following the June 2011 fire.

Net sales in the fourth quarter of 2011 were $359.8 million, a decrease of $9.4 million, or 2.5%, compared to $369.2 million in the fourth quarter of 2010. Excluding unfavorable foreign currency fluctuations, net sales were essentially unchanged as compared to the same period last year.

In the U.S., net sales in the fourth quarter of 2011 were $191.6 million, a decrease of $9.4 million, or 4.7%, compared to $201 million in the same period last year. In Asia-Pacific, net sales in the fourth quarter of 2011 were $63.8 million, an increase of $3 million, or 4.9%, compared to $60.8 million in the same period last year. Excluding the favorable impact of foreign currency fluctuations, net sales increased $1.4 million, or 2.3%. In Europe, Middle East and Africa, net sales in the fourth quarter of 2011 were $55.9 million, a decrease of $0.8 million, or 1.4%, compared to $56.7 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales increased $4 million, or 7.1%. In Latin America, net sales in the fourth quarter of 2011 were $28.3 million, a decrease of $1.6 million, or 5.4%, compared to $29.9 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales in Latin America increased $1.5 million, or 5%. In Canada, net sales in the fourth quarter of 2011 were $20.2 million, a decrease of $0.6 million, or 2.9%, compared to $20.8 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales decreased $0.4 million, or 1.9%.

In the coming year, Revlon continues to execute its business strategy of building its strong brands; developing its organizational capability; driving the company to act globally; increasing its operating profit and cash flow; and improving its capital structure. More information on this financial report can be found here.