Revlon (NYSE: REV) is changing hands at $1.15 in early trading. That's up 10%.
The big rise does not keep the cosmetics company from being one of the most mismanaged public companies going.
In the quarter, revenue grew to $349.2 million from $321.1 million. The company's net loss was $11.3 million, or $0.02 per diluted share, compared to a net loss of $87.1 million, or $0.20 per diluted share.
All of the earnings figures were the good news. The company quoted ACNielsen statistics to show that it market share was down across most of its brands.
Because the company did a bit better than expected, its share are getting a bit of a goose.
Over the last five years, Revlon's share price is down 70%. The shareholders are probably out of sorts, but let them eat lipstick.
Douglas A. McIntyre is a partner at 24/7 Wall St.
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