Revlon posts profit as acquisition boosts sales

NEW YORK (AP) -- Revlon posted a profit for the first quarter as an acquisition lifted sales for the beauty products maker.

For the three months ended March 31, the New York company, whose brands include Almay, Mitchum and its namesake — said it earned $5.5 million, or 11 cents per share. A year ago, the company lost $6.9 million, or 13 cents per share, as it booked a loss on an early extinguishment of debt.

Total revenue rose 44 percent to $469.8 million, boosted by its acquisition in October of last year of The Colomer Group, which markets and sells beauty products to salons.

In its professional segment, which reflects The Colomer Group, comparable sales rose 17.4 percent when excluding the impact of currency exchange rates. Revlon attributed the increase to higher sales of CND Shellac and American Crew products.

In its consumer segment, Revlon said sales rose 2.8 percent when stripping out the impact of foreign currency exchange rates. The company partly attributed the increase to its strategy of focusing on "fewer, bigger and better innovations."

The company's stock was up almost 2 percent at $30.15.