Revlon Q2 Profit Increases, Sales Drop - Quick Facts

(RTTNews) - Cosmetics company Revlon, Inc. (REV) Wednesday said net income for the second quarter increased to $24.7 million or $0.47 per share from $11.1 million or $0.21 per share in the prior year.

The latest results included an $18.1 million insurance gain related to the 2011 fire in Venezuela, a $4.5 million charge for estimated costs to clean-up the Venezuela facility and a $3.3 million charge associated with the restructuring and related actions announced in September 2012.

Last year's net income included a net charge of $6.7 million, before and after tax, with respect to estimated costs of resolving litigation related to the company's 2009 exchange offer.

Net sales dropped to $350.1 million from $357.1 million. Excluding unfavorable foreign currency fluctuations of $6.4 million, second quarter 2013 net sales were essentially unchanged from last year.