NEW YORK —The sea has begun to calm for Revlon as it stabilized the business and recorded in full year 2007 the best financial results it has seen in many years. There still are challenges ahead, but its turnaround efforts appear to be taking hold—good news not only for the cosmetics company but also for the beauty market at mass. "Fiscal year 2007 was the first year since 1997 that Revlon delivered positive operating cash flow. This was primarily driven by the best [read: smallest] net loss since 1997 of $16.1 million," stated Credit Suisse analyst Filippe Goossens in a research note. While Revlon's history dates back to 1932 with the creation of a nail enamel, the company more recently made headlines in September 2006 when then-chief financial officer David Kennedy replaced Jack Stahl as president and chief executive officer. After taking the helm, Kennedy began a restructuring program that involved cost control, pulling the ailing Vital Radiance line and a round of job cuts.