Revlon 4th-qtr sales fall
The company, which competes with L'Oreal, Estee Lauder Cos Inc and Elizabeth Arden Inc, said U.S. revenue in the fourth quarter fell 5 percent to $191.6 million, mainly on lower sales of Revlon color cosmetics.
Revlon, which also sells its products under the Charlie, Almay and Mitchum brands, set aside more money for taxes, denting profit.
Fourth-quarter net income fell to $36.4 million, or 70 cents a share, from $296.2 million, or $5.66 a share, last year.
Revenue decreased 2.5 percent to $359.8 million.
Shares of the New York-based Revlon closed at $15.92 on Thursday on the New York Stock Exchange. (Reporting by Ranjita Ganesan in Bangalore; Editing by Don Sebastian)
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