Revlon, Inc. announced results for the year and the fourth quarter ended December 31, 2012. Revlon reports a net sales of $1,426.1 million in 2012, compared to $1,381.4 million in 2011 - an increase of 3.2%. Excluding unfavorable foreign currency fluctuations of $21.2 million, 2012 net sales increased by 4.8%.
Operating income was $188.7 million in 2012, which included $24.1 million of restructuring and related charges, compared to $203.3 million in 2011.
Net income was $51.1 million in 2012, or $0.98 per diluted share, compared to $53.4 million in 2011, or $1.02 per diluted share.
The was net cash, provided by operating activities, was $104.1 million in 2012 compared to $88.0 million in 2011; and free cash flow of $84.0 million in 2012 compared to $74.4 million in 2011.
Commenting on the results, Alan T. Ennis, president and CEO, Revlon, said:
“2012 was a very positive year. We delivered top line growth of almost 5%, reflecting the effectiveness of our strategy. From a marketplace perspective, we introduced new, innovative products, which, together with effective brand communication and strong in-store execution, drove positive performance of our Revlon branded products in many of our key regions."
Ennis continued, "Our financial performance was strong as we again maintained highly competitive margins and delivered $84 million of free cash flow. We are also very pleased with the integration and performance during the year of our SinfulColors and Pure Ice acquisitions.”
Ennis concluded, “We are pleased with our performance in 2012 and, as we enter 2013, we continue to focus on driving profitable growth.”