Revlon Posts Profit In Q3 - Quick Facts

(RTTNews) - Cosmetics company Revlon, Inc. (REV) reported third-quarter net income of $9.5 million, or $0.18 per share, compared to'a net loss of $15.0 million, or $0.29 per share in the prior year quarter.

The latest quarter results included $5.9 million of expenses related to the acquisition of TCG, $1.8 million of insurance recovery for costs related to resolving litigation related to the 2009 exchange offer, and a $1.4 million of net gain associated with the September 2012 restructuring and related actions, primarily due to the sale of its manufacturing facility in France. Net loss in the third quarter of 2012 included $24.1 million of restructuring and related charges associated with the September 2012 restructuring and related actions and a charge of $2.2 million related to the litigation noted above.

Operating income in the third quarter of 2013 was $41.8 million, compared to $19.1 million in the same period last year.

Net sales dropped to $339.4 million from $347 million a year ago. Excluding unfavorable foreign currency fluctuations of $11.4 million, third quarter 2013 net sales grew by 1.1 percent, driven by higher net sales of Revlon color cosmetics, Revlon ColorSilk hair color and Revlon Beauty Tools, which was partially offset by lower net sales in Venezuela and lower net sales of other beauty care products.