Revlon Inc. said its first-quarter normalized net income amounted to 12 cents per share, a decline of 73.9% from 45 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.1 million, a decline of 73.9% from $23.5 million in the prior-year period.
The normalized profit margin declined to 1.4% from 5.0% in the year-earlier period.
Total revenue fell 6.7% year over year to $438.5 million from $469.8 million, and total operating expenses decreased on an annual basis to $391.4 million from $407.0 million.
Reported net income came to a loss of $1.0 million, or a loss of 2 cents per share, compared to income of $8.9 million, or 17 cents per share, in the year-earlier period.
