FORT LAUDERDALE, Fla., May 3 /PRNewswire-FirstCall/ -- Parlux Fragrances,
Inc. (Nasdaq: PARL) announced today that based upon preliminary unaudited
information, the Company anticipates reporting record total revenues and
record fully diluted earning per share for the fiscal year ended March 31,
2004.
Revenues for the fiscal year are expected to approximate $80 million, an
increase of 11% over the prior fiscal year ended March 31, 2003. Fully
diluted earnings per share for the fiscal year ended March 31, 2004 are
expected to be in the range of $0.60 to $0.62 per share compared to $0.54 per
share for the prior fiscal year, an increase in the range of 11% t 15%. The
prior year included a non-recurring benefit of approximately $4 million;
excluding this non-recurring benefit, earnings per share would have been $0.29
last year.
Ilia Lekach, Chairman and Chief Executive Officer, said, "Our record sales
and profit performance are supported by a Balance Sheet that for the first
time had no bank debt at fiscal year-end. We are in a positive cash position
with product lines that have been performing very well. I am very proud of
our management team's performance and appreciate the continued support of our
customers, suppliers and shareholders."
The estimates outlined above for the fiscal year ended March 31, 2004 are
preliminary and are subject to possible adjustments as the Company completes
its year-end procedures and the audit of its financial statements. The
Company anticipates that it will issue final results for the fourth quarter
and year-end March 31, 2004 some time during the second week in June.
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, Ocean Pacific (OP), Fred Hayman
Beverly Hills and GUESS?, Inc.
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, Chairman and CEO, ext. 116, or
Frank A. Buttacavoli, ext. 117, both of Parlux Fragrances, Inc.,
+1-954-316-9008
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