January 29, 2018 / 9:45 PM / a month ago

BRIEF-Revlon Says President And CEO Fabian Garcia Has Stepped Down From His Position To Pursue Other Opportunities

Jan 29 (Reuters) - Revlon Inc:

* REVLON ANNOUNCES MANAGEMENT CHANGE AND PRELIMINARY 2017 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS

* SEES FY 2017 SALES ABOUT $2.7 BILLION

* FABIAN GARCIA, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF REVLON, HAS STEPPED DOWN FROM HIS POSITION TO PURSUE OTHER OPPORTUNITIES

* ESTIMATES THAT NET SALES WERE ABOUT $785 MILLION FOR THREE-MONTH PERIOD ENDED DECEMBER 31, 2017

* FULL YEAR 2017 NET SALES ARE ESTIMATED TO BE ABOUT $2.7 BILLION, COMPARED TO $2.3 BILLION IN 2016

* PAUL MEISTER NAMED EXECUTIVE VICE CHAIRMAN OF BOARD OF DIRECTORS AND WILL OVERSEE DAY-TO-DAY OPERATIONS OF COMPANY ON AN INTERIM BASIS

* ‍ESTIMATES THAT ITS REPORTED NET LOSS FOR Q4 2017 WAS IN A RANGE OF ABOUT $60 MILLION TO $80 MILLION, COMPARED TO $36.5 MILLION IN Q4 OF 2016​

* FULL YEAR 2017 NET LOSS IS ESTIMATED TO BE IN RANGE OF APPROXIMATELY $165 MILLION TO $185 MILLION Source text for Eikon: Further company coverage:

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