Revenue during the quarter surged 35.33 percent to $594.90 million from $439.60 million in the previous year period. Gross margin for the quarter contracted 955 basis points over the previous year period to 55.44 percent. Operating margin for the quarter stood at negative 7.14 percent as compared to a positive 8.14 percent for the previous year period.

Operating loss for the quarter was $42.50 million, compared with an operating income of $35.80 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $32.20 million compared with $66.60 million in the prior year period. At the same time, adjusted EBITDA margin contracted 974 basis points in the quarter to 5.41 percent from 15.15 percent in the last year period.

Commenting on today’s announcement, Revlon President and Chief Executive Officer, Mr. Fabian Garcia said, “While we are disappointed with our U.S. results, our brands continue to achieve strong international net sales growth across all segments and despite the U.S. retail environment, our iconic beauty brands have demonstrated resilience and have maintained market share in the U.S.” Mr. Garcia added, “We remain committed to our long-term strategy to restore brand growth in the U.S. by enhancing our brands’ relevance with differentiated innovation, elevating in-store and online experiences and digital-first engagements, and building our presence in fast growing channels, as well as accelerating our international expansion, with a focus on Asia and Latin America.”

The company has spent $15.40 million cash to meet investing activities during the quarter as against cash outgo of $7 million in the last year period.

Cash flow from financing activities was $30.40 million for the quarter as against cash outgo of $39 million in the last year period.

Cash and cash equivalents stood at $121.50 million as on Mar. 31, 2017, down 33.32 percent or $60.70 million from $182.20 million on Mar. 31, 2016.

Working capital increases
Revlon, Inc has recorded an increase in the working capital over the last year. It stood at $343.10 million as at Mar. 31, 2017, up 11.22 percent or $34.60 million from $308.50 million on Mar. 31, 2016. Current ratio was at 1.48 as on Mar. 31, 2017, down from 1.73 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 38 days for the quarter from 57 days for the last year period. Days sales outstanding went down to 47 days for the quarter compared with 53 days for the same period last year.

Days inventory outstanding has decreased to 77 days for the quarter compared with 116 days for the previous year period. At the same time, days payable outstanding went down to 85 days for the quarter from 112 for the same period last year.