- Net sales of $350.1 million compared to $357.1 million, a decrease of 2.0%. Excluding unfavorable foreign currency fluctuations of $6.4 million, second quarter 2013 net sales were essentially unchanged year-over-year.
- Operating income of $59.1 million compared to $42.8 million. Operating income in 2013 included an $18.1 million insurance gain related to the 2011 fire that destroyed the Company’s facility in Venezuela, a $4.5 million charge for estimated costs to clean-up the Venezuela facility, and a $3.3 million charge associated with the restructuring and related actions announced in September 2012. Operating income in 2012 included a net charge of $6.7 million related to estimated costs of resolving litigation related to the Company’s 2009 exchange offer.
- Operating income in the second quarter of 2013 was negatively impacted by $2.5 million due to foreign currency fluctuations.
- Net income of $24.7 million, or $0.47 per diluted share, compared to $11.1 million, or $0.21 per diluted share.
- Adjusted EBITDA a of $76.1 million compared to $58.7 million.
- Both net income and Adjusted EBITDA in 2012 and 2013 were impacted by the items noted in operating income above.
- Net cash provided by operating activities of $28.2 million compared to a use of $1.3 million; free cash flow b was positive $21.6 million compared to negative $6.6 million.
Revlon Reports Second Quarter 2013 Results
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