The following is a summary of the Company’s unaudited quarterly results of operations for each of 2014 and 2013:



	Year Ended December 31, 2014
	1st Quarter			2nd Quarter		3rd Quarter		4th Quarter
Net sales	$	469.8		$	497.9	$	472.3	$	501.0
Gross profit	306.3			330.7		307.7		328.0
Income from continuing operations, net of taxes^{(a) (b)}	10.2			15.9		15.8		4.1
(Loss) income from discontinued operations, net of taxes^(c)	(3.2		)	3.7		0.4		0.4
Net income^(a)(b)	7.0			19.6		16.2		4.5



	Year Ended December 31, 2013
	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
Net sales	$	325.9		$	344.7		$	333.1		$	491.0
Gross profit	211.5			222.1			212.0			304.0
(Loss) income from continuing operations, net of taxes^(d)(e)(f)	(1.9		)	29.5			11.5			(7.1		)
Loss from discontinued operations, net of taxes	(2.4		)	(2.4		)	(1.5		)	(24.1		)
Net (loss) income ^(d)(e)(f)	(4.3		)	27.1			10.0			(31.2		)

^(a)

Income from continuing operations and net income for the first quarter of 2014 were unfavorably impacted by restructuring charges of $13.5 million related to the Integration Program, as well as $3.8 million of acquisition and integration costs related to the Colomer Acquisition (See Note 2, "Business Combinations," and Note 3, “Restructuring Charges”). Additionally, in the first quarter of 2014, the Company incurred a $1.9 million aggregate loss on early extinguishment of debt due to the February 2014 Term Loan Amendment. (See Note 11, “Long-Term Debt”).

^(b)

Income from continuing operations and net income for the second and third quarter of 2014 were unfavorably impacted by foreign currency losses, net, of $7.2 million and $9.3 million, respectively, related to the required re-measurement of Revlon Venezuela's monetary assets and liabilities at June 30, 2014, and the results of unfavorable impacts of the revaluation of certain U.S. Dollar denominated intercompany payables during the third quarter of 2014. (See Note 1, "Description of Business and Summary of Significant Accounting Policies - Foreign Currency Translation" for further discussion on Venezuela currency restrictions and related devaluation).


^(c)	(Loss) income from discontinued operations includes the results of the Company's China operations (See Note 4, "Discontinued Operations").


^(d)	(Loss) income from continuing operations and net loss for the first quarter of 2013 were unfavorably impacted by a $27.9 million aggregate loss on early extinguishment of debt due to the 2013 Senior Notes Refinancing and the February 2013 Term Loan Amendments. (See Note 11, “Long-Term Debt”).

^(e)

(Loss) income from continuing operations and net (loss) income for the first quarter of 2013 and the second quarter of 2013 were favorably impacted by an $8.3 million and an $18.1 million, respectively, gain from insurance proceeds due to the settlement of the Company's claims for the loss of inventory, business interruption and property losses as a result of the fire at the Company's Venezuela facility.

^(f)

(Loss) from continuing operations and net loss for the fourth quarter of 2013 were unfavorably impacted by $19.1 million of acquisition and integration costs related to the Colomer Acquisition. Additionally, the Company incurred $21.4 million of restructuring and related charges in the fourth quarter of 2013 related to the December 2013 Program, of which $20.0 million relates to the Company's exit of its business operations in China which was recorded in loss from discontinued operations, net of taxes.