MoreBT.cn - more best Topic

Web
MoreBT

Your location: Home » Finance

updated 00:14, Tue November 06, 2007

Analysts Expect Revlon Loss in 3rd Quarter As Cosmetic Maker's Restructuring Continues

RANDOM NEWS

+-Text Size:

NEW YORK (AP) -- Cosmetics-maker Revlon Inc. reports earnings for the third quarter on Tuesday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Revlon, which is controlled by financier Ron Perelman, makes cosmetics, skin care, personal care and fragrance products under brand names including Revlon, Almay, Ultima, Charlie, Flex and Mitchum.

New York-based Revlon initiated a restructuring program last year under new chief David Kennedy, who became the company's president and chief executive last September, after a series of missteps, including launching Vital Radiance, a cosmetics line aimed at older women, that was later canceled.

BY THE NUMBERS: Analysts polled by Thomson Financial expect a loss of 8 cents per share. In August the company posted a 2 cents per share second-quarter loss, better than Wall Street expectations of a 7 cents per share loss.

ANALYST TAKE: BMO Capital Markets analyst Connie Maneaty initiated coverage on Revlon in August with a "Market Perform" or "Hold" rating on the stock.

"An investment in Revlon is essentially a bet that the company will survive both its debt-laden balance sheet and the intense competition in mass market cosmetics," Meaneaty wrote at the time.

WHAT'S AHEAD: Kennedy's restructuring strategy involves focusing on the core Revlon brand. The company plans new product introductions for Revlon and Almay in 2008.

STOCK PERFORMANCE: Shares fell 16 percent during the third quarter and fell 10 percent during the first three quarters of the year.

Sounds Off:Your opinions and commentsView All»

Post a comment

Most Popular

Most Viewed
Most Comments

Please used IntrtnetExplorer or Firefox, Thanks.

Or, you can view the NoStyle version.