Revlon reports smaller 1st-quarter loss on lower expenses

NEW YORK—Cosmetics-maker Revlon Inc. on Thursday said it narrowed its first-quarter loss, as lower expenses offset a sales decline in the U.S.

Revlon's quarterly loss shrank to $2.5 million, or break-even per share, compared with a loss of $35.2 million, or 7 cents per share, a year earlier. Analysts, on average, predicted a loss of a penny per share, according to a Thomson Financial poll.

Revlon, which markets Almay cosmetics and Charlie perfume, said revenue fell 3 percent to $320.4 million from $328.6 million last year. Analysts expected revenue of $320.3 million.

U.S. sales fell 8.3 percent, while international sales rose 5.8 percent, helped by a weaker dollar.

New York-based Revlon, controlled by financier Ron Perelman, said the narrower loss was due to lower expenses, as the year-ago period included brand support expenses related to launching Revlon Colorist hair color.

The company said new product launches in fiscal 2008 will lead to sustainable sales growth and will be profitable.