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MAYBELLINE REPORTS 3RD QUARTER NET SALES AND EARNINGS

 MEMPHIS, Tenn., Oct. 13 /PRNewswire/ -- Maybelline, Inc. (NYSE: MAY) today announced consolidated net sales and income for the three and nine months ended Sept. 30, 1993.
 Highlights for the three months ended Sept. 30, 1993:
 -- Consolidated net sales of $88.8 million were up 11.0 percent over
 net sales of $80.0 million for the third quarter of 1992.
 Domestic sales for all brands were up 12.3 percent to
 $79.4 million while international sales rose 1.1 percent to
 $9.4 million during the quarter.
 -- Quarterly net income of $6.5 million, or $0.36 per share,
 compared to net income of $0.7 million, or $0.06 per share, for
 the year-ago period.
 -- Third-quarter gross profit margin of 66.0 percent was up from
 63.5 percent for the third quarter of 1992.
 -- Quarterly operating income of $11.3 million was up 138.4 percent
 over prior-year operating income of $4.7 million.
 Results for the third quarter of 1992 include non-recurring pre-tax charges of $5.6 million. After excluding the non-recurring charges, normalizing interest expense and applying an income tax rate of 37.5 percent, net income for the third quarter of 1992 would have amounted to $5.7 million, or $0.32 per share. On that basis, net income for the third quarter of 1993 exceeded net income as adjusted for the third quarter of 1992 by 13.8 percent.
 Highlights for the nine months ended Sept. 30, 1993:
 -- Consolidated net sales of $259.7 million were up 13.1 percent
 over net sales of $229.6 million for the first nine months of
 1992. Domestic sales for all brands were up 13.4 percent to
 $232.0 million while international sales rose 10.4 percent to
 $27.6 million during the nine months.
 -- Net income of $16.7 million, or $0.93 per share, compared to a
 net loss of $15.0 million, or a loss of $1.18 per share, for the
 first nine months of 1992.
 -- Gross profit margin of 64.2 percent was up from 62.8 percent for
 the first nine months of 1992.
 -- Operating income of $29.7 million was up 236.6 percent over
 operating income of $8.8 million for the first nine months of
 1992.
 Results of the nine months ended Sept. 30, 1992, include non- recurring pre-tax charges of $17.7 million and a $12.3 million extraordinary loss due to the prepayment of certain debt. After excluding the non-recurring charges and extraordinary loss, normalizing interest expense and applying an income tax rate of 37.5 percent, net income for the first nine months of 1992 would have amounted to $14.2 million, or $0.80 per share. On that basis, net income for the first nine months of 1993 exceeded net income as adjusted for the first nine months of 1992 by 17.0 percent.
 "During the third quarter, Maybelline posted record net sales and earnings despite industry-wide weak consumer demand and trade inventory reductions," said Maybelline President and Chief Executive Officer Robert N. Hiatt. "Domestically, Maybelline improved its market share in all product categories -- Eye, Face, Lip and Nail cosmetics -- led by the strong performance of our new Revitalizing Face collection for the growing `Baby Boomer' generation. Also during the quarter, Yardley Bath Shoppe extended its distribution to more than 12,000 U.S. doors.
 "On the international side, the Canadian business continued to feel the effects of a sluggish economy and unfavorable year-to-year exchange rates. Our overall international sales were relatively flat for the quarter, despite gains in Mexico and Southeast Asia," Hiatt added.
 Although interim period results are not necessarily indicative of full-year performance, Hiatt said he believes the company is well- positioned to capitalize on market share gains as the consumer products market improves.
 Headquartered in Memphis, Maybelline, Inc. is a leader in the mass- market color cosmetics business, manufacturing and marketing Eye, Face, Lip and Nail cosmetics and other personal care products for sale in the United States and in selected international markets. The company markets its products under such well-recognized brand names as Great Lash, Expert Eyes, Moisture Whip, Revitalizing, Shades of You, Shine Free and Yardley of London. Maybelline products are carried by virtually every major mass-market retailer in the United States and are also distributed in approximately 40 countries.
 -0- 10/13/93
 /CONTACT: Joan Horne Lollar of Maybelline, 901-320-2460/
 (MAY)


CO: Maybelline, Inc. ST: Tennessee IN: HOU SU: ERN

CM -- CH001 -- 1508 10/13/93 09:01 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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