In Canada, net sales in the fourth quarter of 2011 were $20.2 million, a decrease of $0.6 million, or 2.9%, compared to $20.8 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales decreased $0.4 million, or 1.9%. Lower net sales of beauty tools and other beauty care products were partially offset by higher net sales of Almay color cosmetics.Operating income in the fourth quarter of 2011 was $66.0 million, compared to $67.8 million in the same period last year. Adjusted EBITDA in the fourth quarter of 2011 was $81.7 million, compared to $83.3 million in the same period last year. Operating income and Adjusted EBITDA in the fourth quarter of 2011 were negatively impacted by lower gross profit, as a result of lower net sales and higher cost of sales, partially offset by lower SG&A. SG&A expenses decreased versus the prior year primarily due to lower advertising expenses and the benefit of business interruption insurance recoveries related to the fire in Venezuela, discussed above.
Revlon Reports 2011 Results
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