Revlon Swings to Profit

Revlon has announced a small profit for second quarter 2008, defying analysts predictions for a loss, and reports that sales are continuing to grow:

According to preliminary estimates, profit in the three months ended June 30 totaled $20 million, or 4 cents per share, compared with a loss of $11.3 million, or a loss of 2 cents per share in the same period last year. Net sales in second quarter rose by 8 percent to $375 million compared with $349.2 million last year.

The stock has gained some ground as a result - or more aptly, it has regained some ground that it has lost so far this year. I'm still in the red on this one, but if they can continue to grow, slow and steady, my sense is that buying into REV is a move I won't regret.