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Revlon's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Next, our remarks today will include a discussion of adjusted EBITDA and free cash flow, both of which are non-GAAP measures. These non-GAAP measures are defined in the footnotes to our release and are also reconciled to the most directly comparable GAAP measure in the financial tables at the end of our release. Finally, as a reminder, our discussion this morning should not be copied or recorded. With that, I’ll turn the call over to Alan.

Alan Ennis

Thank you, Elise, and good morning everyone. As we’ve discussed for some time, our strategic goal is to profitably grow our business. Overall, we had a positive quarter and I am pleased with our performance so far this year.

From a net sales perspective we grew 4.2% in the quarter and 2.4% year-to-date. Our Revlon brands performed very well in the market place again this quarter. We are pleased with both new and core product performance during the period and are excited about our recent new product introductions.

From a regional perspective we grew in the US, Canada and Latin America, however we experienced some softness in Europe, Greater China and Australia.

As we move forward, we will continue to manage our resources carefully given the uncertain global economic environments. While we continue to drive growth organically, we are also growing through acquisitions and are excited about the recent addition of Pure Ice to our brand portfolio. Pure Ice is a wide range of value priced nail color products which have been in distribution for over 20 years in the U.S mass retail channel. This acquisition complements our brand portfolio and builds on the successful acquisition of the Sinful Colors brand in 2011.

From a financial perspective we had a positive quarter as we continue to deliver competitive operating income margins and our financial profile remains strong.

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