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Revlon Reports Third Quarter 2012 Results

In Europe, Middle East and Africa, net sales in the first nine months of 2012 were $134.0 million, a decrease of $18.8 million, or 12.3%, compared to $152.8 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales decreased $5.4 million, or 3.5%.

In Latin America, net sales in the first nine months of 2012 were $89.2 million, an increase of $10.3 million, or 13.1%, compared to $78.9 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales increased $15.3 million, or 19.4%.

In Canada, net sales in the first nine months of 2012 were $58.2 million, an increase of $3.7 million, or 6.8%, compared to $54.5 million in the same period last year. Excluding the unfavorable impact of foreign currency fluctuations, net sales increased $5.2 million, or 9.5%.

Operating income was $106.2 million in the first nine months of 2012, compared to $137.3 million in the same period last year and Adjusted EBITDA was $154.9 million in the first nine months of 2012, compared to $184.3 million in the same period last year. Operating income and Adjusted EBITDA in the first nine months of 2012 included $24.1 million of restructuring and related charges and a net charge of $8.9 million with respect to estimated costs of settling previously disclosed litigation related to the Company’s 2009 exchange offer.

Interest expense, including preferred stock dividends, for the first nine months of 2012 decreased $5.2 million to $64.3 million compared to the same period last year.

The provision for income taxes for the first nine months of 2012 was $31.6 million compared to $32.4 million in the same period last year. Cash paid for income taxes, net of refunds, for the first nine months of 2012 was $13.8 million compared to $14.0 million in the same period last year.

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