FORT LAUDERDALE, Fla., March 9 /PRNewswire-FirstCall/ -- Parlux Fragrances
Inc (Nasdaq: PARL) announced today that it had filed a Form S-3 registration
statement covering 1,780,000 shares of common stock underlying warrants to
acquire such shares. The warrants, of which 57,000 have already been
exercised, were last granted in May 2002 and cover all currently outstanding
warrant obligations of the Company.
The remaining unexercised warrants, if and when exercised, will generate
cash and increase stockholders' equity by approximately $3.7 million. The
dilution from their exercise would be only approximately 1% since, in
accordance with generally accepted accounting principles, the Company already
included approximately 1.6 million shares relating to the warrants as dilutive
securities in calculating diluted earnings per share for the period ended
December 31, 2005.
Parlux Fragrances, Inc. is a manufacturer and international distributor of
prestige products. It holds licenses for Paris Hilton fragrances, watches,
cosmetics, handbags and other small leather accessories in addition to
licenses to manufacture and distribute the designer fragrance brands of Perry
Ellis, GUESS?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, and
Fred Hayman Beverly Hills.
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.
SOURCE Parlux Fragrances, Inc.
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Related links:
http://www.parlux.com
Company News On-Call:
http://www.prnewswire.com/comp/674987.html
CONTACT:
Ilia Lekach, ext. 116, or Frank A.
Buttacavoli, ext. 117, both of Parlux, +1-954-316-9008
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