Revlon, Inc. has announced results for the second quarter ended June 30, 2010. Second quarter 2010 results compared to second quarter 2009:

– Net sales of $327.7 million compared to $321.8 million. Excluding unfavorable foreign currency fluctuations of $0.5 million, second quarter 2010 net sales increased 2.0%.

– Operating income of $47.3 million compared to $26.6 million.

– Net income of $16.4 million, or $0.31 per diluted share, compared to $0.2 million, or nil per diluted share.

– Adjusted EBITDA(1) of $61.7 million compared to $43.0 million.

– Second quarter 2009 operating income, net income, and Adjusted EBITDA included $18.3 million of restructuring charges.

– Positive free cash flow(2)of $5.1 million compared to negative free cash flow of $3.0 million.

Commenting on the announcement, Alan T. Ennis, Revlon’s president and CEO, says, “We continue to execute our business strategy with a keen focus on building our strong brands and further developing our organizational capability globally. In the second quarter of 2010, we delivered improved cash flow and competitive operating margins, while significantly increasing advertising investment to enhance our marketplace competitiveness.”

Ennis continues, “A key driver of our business is launching innovative, high quality consumer preferred products to the global marketplace. During the quarter, we introduced Revlon Grow Luscious mascara, Revlon Just Bitten lipstain + balm and Almay One Coat Dial Up mascara. Additionally, during the quarter, we signed one of Hollywood’s hottest stars, Kate Hudson, as the newest global brand ambassador for our Almay brand.”

Ennis concludes, “The economic environment remains challenging and we continue to manage our resources carefully, with a focus on the long-term, profitable growth of our brands.”