For the quarter ended Dec. 31, cost controls and sales growth resulted in a net profit of $40.8 million, or 8 cents a diluted share, compared with a net loss of $5.5 million, or 1 cent a share, in the year-ago period. Sales ticked up 1 percent to $382.6 million from $378.9 million.
For the year, Revlon’s net loss narrowed to $16.1 million, or 3 cents a share, from a net loss of $251.3 million, or $60 cents, on sales that gained 5.2 percent to $1.40 billion from $1.33 billion.
“Revlon has done what it said it would do — cut costs and improve profitability,” said William Chappell, an analyst with SunTrust Robinson Humphrey. “It’s too early to tell if its new products will help the brand gain market share.”
For more, see Friday’s issue of WWD.