Parlux Reports 45% Increase In Earnings Per Share For Nine-Month Period Ended December 31, 2000

Search Blogs that Mention this News Release
Click this link to view linked Bookmarking Services
Click this link to view linked Blogging Services
Parlux Reports 45% Increase In Earnings Per Share For Nine-Month Period Ended December 31, 2000
    FORT LAUDERDALE, Fla., Feb. 8 /PRNewswire/ -- Parlux Fragrances, Inc.
(Nasdaq: PARL) announced today its results for the three and nine-month
periods ended December 31, 2000.
    Net sales for the quarter were $20,149,871 compared to $16,631,430 for the
comparable quarter of the prior year, an increase of 21%.  Sales to unrelated
customers increased to $12,641,924 from $11,198,555, an increase of 13%.
Sales to related parties were $7,507,947 compared to prior year sales of
$5,432,875, an increase of 38%.
    Operating income for the quarter increased 119% to $1,530,419 compared to
$698,740 for the comparable quarter of the prior year.  Net income for the
quarter was $701,746 compared to $624,764 for the prior year, an increase of
12%.  Earnings per share increased to $0.07 compared to $0.05 for the same
period of the prior year, an increase of 40%.
    Net sales for the nine-month period ended December 31, 2000, were
$55,260,433 compared to $51,262,765 for the comparable period of the prior
year, an increase of 8%.  Sales to unrelated customers were $35,721,145
compared to $28,585,216, an increase of 25%.  Sales to related parties were
$19,539,288 compared to $22,677,549, a decrease of 14%.
    Operating income for the nine-month period ended December 31, 2000,
increased 24% to $6,184,123 compared to $4,990,056 for the comparable period
of the prior year.  Net income for the current nine-month period was
$3,305,483 compared to $2,921,702 for the prior year, an increase of 13%.
Earnings per share increased to $0.32 compared to $0.22 for the same period of
the prior year, an increase of 45%.
    Commenting on the results, Ilia Lekach, Chairman and Chief Executive
Officer said, "Our 25% increase year-to-date in sales to unrelated customers,
basically U.S. department stores and international distributors, is especially
gratifying as this segment now represents 65% of our total business.  Our
operating performance and increased earnings per share reflect both improved
profitability and the result of our reduction in outstanding shares.  We
anticipate continued growth in our primary brand, PERRY ELLIS, and look
forward to a very successful launch of OCEAN PACIFIC ("OP") this Spring."
    Parlux Fragrances, Inc. is a manufacturer and international distributor of
prestige fragrances and holds the licenses to manufacture and distribute the
designer fragrance brands of PERRY ELLIS, FRED HAYMAN BEVERLY HILLS, and OCEAN
PACIFIC.  The Company also owns, manufactures and distributes its own
fragrance brand, ANIMALE Parfums.
    The Company may periodically release forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995.  Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements of the Company or its industry to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements.  These risks and uncertainties include, among
others, future trends in sales and the Company's ability to introduce new
products in a cost-effective manner.  Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
thereof.  The Company undertakes no obligation to publicly release the result
of any revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.

                            (See following table)

    FOR:  Parlux Fragrances, Inc.
    CONTACT:    Ilia Lekach  (954) 316-9008 Ext. 116
    PR NEWSWIRE:  COMPANY NEWS ON-CALL:  (800) 758-5804  Parlux code 674987
    COMPANY NEWS ON-INTERNET:   http://www.prnewswire.com


                           PARLUX FRAGRANCES, INC.
                      CONSOLIDATED STATEMENTS OF INCOME


    Three Months Ended December 31,                     2000            1999

    Net sales                                    $20,149,871     $16,631,430

    Operating income                               1,530,419         698,740

    Net income                                       701,746         624,764

    Diluted earnings per share                         $0.07           $0.05

    Diluted weighted average shares outstanding   10,091,240      13,144,801


    Nine Months Ended December 31,                      2000            1999

    Net sales                                    $55,260,433     $51,262,765

    Operating income                               6,184,123       4,990,056

    Net income                                     3,305,483       2,921,702

    Diluted earnings per share                         $0.32           $0.22

    Diluted weighted average shares outstanding   10,409,751      13,050,111
SOURCE Parlux Fragrances, Inc.
http://www.parlux.com
Company News On-Call:
http://www.prnewswire.com/comp/674987.html or fax,
800-758-5804, ext. 674987
CONTACT:
Ilia Lekach of Parlux Fragrances, Inc.,
954-316-9008, ext. 116