Revlon Inc. (REV) Narrows Loss
Revlon Inc. reported narrowed second-quarter losses Wednesday as the New York-based beauty company reaped benefits from a restructuring program initiated last year, a solid rise in sales and better cost controls.
The company, controlled by financier Ron Perelman, said it lost $11.3 million, or 2 cents per share, for the three months ended June 30, compared with $87.1 million, or 20 cents a share in the year-ago period.
Revenues rose almost 9 percent to $349.2 million, up from $321.1 million. Analysts surveyed by Thomson Financial had expected losses of 7 cents per share and revenues of $325.93 million.
The company, controlled by financier Ron Perelman, said it lost $11.3 million, or 2 cents per share, for the three months ended June 30, compared with $87.1 million, or 20 cents a share in the year-ago period.
Revenues rose almost 9 percent to $349.2 million, up from $321.1 million. Analysts surveyed by Thomson Financial had expected losses of 7 cents per share and revenues of $325.93 million.
posted by Stock Administrator @ 9:01 AM
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