Revlon reported a 2011 net sales increase of 4.5% over 2010, with $1,381.4 million compared to $1,321.4 million. Excluding favorable foreign currency fluctuations of $17.0 million, 2011 net sales increased by 3.3% and its 2011 operating income was $203.3 million compared to $199.8 million in 2010. Net sales in the fourth quarter of 2011 were $359.8 million, a decrease of $9.4 million, or 2.5%, compared to $369.2 million in the fourth quarter of 2010. Excluding unfavorable foreign currency fluctuations, net sales were essentially unchanged as compared to the same period last year, according to Revlon.

For 2011 overall, net income was $53.4 million, compared to $327.3 million. (Net income included a non-cash tax benefit of $16.9 million and $260.6 million in 2011 and 2010, respectively, associated with a reduction in the Company’s deferred tax valuation allowances.) For 2011, net sales increased in the United States (3.9%), Asia Pacific (11.2%) and in Europe, Middle East and Africa (4.1%), while Latin America and Canadian net sales remained essentially unchanged year-over-year.

“2011 was a year of many notable achievements. We delivered net sales growth of 4.5% and sustained highly competitive operating income margins,” said President and CEO Alan T. Ennis. “We delivered our fourth consecutive year of positive free cash flow and we improved our capital structure by refinancing and reducing our net debt. From a marketplace perspective, our emphasis on effective brand communication and strong in-store execution drove our positive performance and we introduced a number of successful new, innovative, consumer-preferred products across our entire portfolio. We acquired the Sinful Colors brand and signed two of Hollywood’s most sought-after actresses, Emma Stone and Olivia Wilde, as Global Brand Ambassadors for the Revlon brand.”

Ennis noted that Revlon will continue to manage the business carefully, with an emphasis on maintaining our operating margins, as the company remains focused on continuing to realize its strategic objective of profitably growing our business.