Revlon fourth quarter net rises, sees 2010 hurt by Venezuela
Feb 25 (Reuters) - Cosmetics maker Revlon Inc (REV.N) posted a higher fourth-quarter profit, helped by higher sales of its ColorSilk hair color, but said it expects 2010 results to be hurt by a currency devaluation in Venezuela, and its shares fell 5 percent.
The company, controlled by financier Ronald Perelman, posted a net profit of $12.8 million, or 24 cents a share, compared with $11.3 million, or 22 cents a share, a year ago.
Revlon earned 25 cents a share from continuing operations in the quarter.
Sales rose 3 percent to $344.6 million.
One analyst was looking for a profit of 35 cents a share, before items, on revenue of $350.9 million, according to Thomson Reuters I/B/E/S.
Revlon, which sells its products under brands such as Charlie and Mitchum, said Revlon Venezuela accounted for about 4 percent of the company's 2009 net sales and 7 percent of its operating income.
Shares of the New York-based company were trading at $15.60 before the bell on Thursday 25 February, down from Wednesday 24 February's close of $16.47 on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Mike Miller)