Mr. Ennis concluded, “We continue to manage our business carefully, with an emphasis on maintaining our operating margins, as we remain focused on continuing to realize our strategic objective of profitably growing our business.”

2011 Results

Note: The results of operations related to Sinful Colors are included in the Company's consolidated financial statements commencing on the date of acquisition, March 17, 2011.

Net sales in 2011 were $1,381.4 million, an increase of $60.0 million, or 4.5%, compared to $1,321.4 million in 2010. Excluding favorable foreign currency fluctuations of $17.0 million, net sales increased by $43.0 million, or 3.3%. The increase was primarily driven by the inclusion of the net sales of Sinful Colors and higher net sales of Revlon and Almay color cosmetics and Revlon ColorSilk hair color. These increases were partially offset by lower net sales of Revlon beauty tools and lower net sales in Venezuela due to the June 2011 fire at the Company’s local facility.

In the United States, net sales in 2011 were $757.4 million, an increase of $28.3 million or 3.9%, compared to $729.1 million in 2010. The increase was primarily driven by the inclusion of the net sales of Sinful Colors and higher net sales of Almay color cosmetics and Revlon ColorSilk hair color. These increases were partially offset by lower net sales of Revlon beauty tools and Revlon color cosmetics.

In Asia Pacific, net sales in 2011 were $233.4 million, an increase of $23.5 million, or 11.2%, compared to $209.9 million last year. Excluding the favorable impact of foreign currency fluctuations, net sales increased $8.4 million, or 4.0%, primarily due to higher net sales of Revlon color cosmetics in China and certain distributor markets, partially offset by lower net sales of Revlon color cosmetics in Japan and Australia.

In Europe, Middle East and Africa, net sales in 2011 were $208.7 million, an increase of $8.3 million, or 4.1%, compared to $200.4 million last year. Excluding the favorable impact of foreign currency fluctuations, net sales increased $4.0 million, or 2.0%. The increase was primarily due to higher net sales of Revlon color cosmetics in South Africa and certain distributor markets, partially offset by lower net sales in Italy.

If you liked this article you might like

Tesla and Apple Better Deliver Big-Time or Look Out Below -- Week Ahead

Birchbox Revolutionized How We Buy Beauty Products

Insiders Are Loading Up on Kite Pharma, Cliffs Natural Resources and More