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Revlon Reports 2011 Results

Fourth Quarter 2011 Results

Net sales in the fourth quarter of 2011 were $359.8 million, a decrease of $9.4 million, or 2.5%, compared to $369.2 million in the fourth quarter of 2010. Excluding unfavorable foreign currency fluctuations, net sales were essentially unchanged as compared to the same period last year.

In the United States, net sales in the fourth quarter of 2011 were $191.6 million, a decrease of $9.4 million, or 4.7%, compared to $201.0 million in the same period last year. The decrease was primarily driven by lower net sales of Revlon color cosmetics, partially offset by higher net sales of Almay color cosmetics and Revlon ColorSilk hair color, and the inclusion of the net sales of Sinful Colors. Lower net sales of Revlon color cosmetics were unfavorably impacted by higher returns and higher promotional allowances.

In Asia Pacific, net sales in the fourth quarter of 2011 were $63.8 million, an increase of $3.0 million, or 4.9%, compared to $60.8 million in the same period last year. Excluding the favorable impact of foreign currency fluctuations, net sales increased $1.4 million, or 2.3%. Higher net sales of Revlon color cosmetics in China and certain distributor markets were partially offset by lower net sales in Australia.

In Europe, Middle East and Africa, net sales in the fourth quarter of 2011 were $55.9 million, a decrease of $0.8 million, or 1.4%, compared to $56.7 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales increased $4.0 million, or 7.1%, primarily due to higher net sales of Revlon color cosmetics in South Africa and certain distributor markets.

In Latin America, net sales in the fourth quarter of 2011 were $28.3 million, a decrease of $1.6 million, or 5.4%, compared to $29.9 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales in Latin America increased $1.5 million, or 5.0%. The increase was primarily due to higher net sales of Revlon and Almay color cosmetics and Revlon ColorSilk hair color throughout the region and higher net sales of other beauty care products in Argentina. These increases were partially offset by lower net sales in Venezuela where the Company had not fully resumed business since the June 2011 fire.

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