Cosmetics giant Revlon posts 28% income growthFebruary 5, 2013 - 18:37 AMT PanARMENIAN.Net - Revlon's fourth-quarter net income climbed 28 percent, helped by an acquisition and stronger sales of Revlon makeup and hair color in the U.S. and Latin America, AP said. The cosmetics company, whose brands include Almay, Mitchum and its namesake, said that it earned $46.5 million, or 89 cents per share, for the three months ended Dec. 31. That compares with $36.4 million, or 70 cents per share, a year earlier. Revenue increased 9 percent to $391.3 million from $359.8 million, as stronger sales gains in the U.S. and Latin America and Canada region offset declines in the region comprised of Europe, the Middle East and Africa. Its acquisition of Pure Ice cosmetics in July also gave sales a boost. Sales rose 14 percent in the U.S. and 15 percent in Canada and Latin America, while declining 10 percent in the Europe, Middle East and Africa region. Sales rose 4 percent in Asia. Part of the gain in Latin America came from rising prices due to inflation in the region. For the year, Revlon Inc., which is based in New York, earned $51.1 million, or 98 cents per share. That's down from $53.4 million, or $1.02 per share, in 2011. Revenue rose 3 percent to $1.43 billion from $1.38 billion. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |