FORT LAUDERDALE, Fla., May 15 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (Nasdaq: PARL) Parlux Fragrances, Inc. announced today the
promotion of Mr. Raymond Balsys to Chief Financial Officer. Mr. Balsys
rejoined the Company in July 2006 as Vice President Finance. From 1994 to
1997, he served as Vice President Comptroller of Parlux Fragrances, Inc.
Mr. Balsys will report directly to Mr. Neil J. Katz, Chief Executive
Officer.
Mr. Katz stated that, "In an effort to segregate duties, Mr. Frank A.
Buttacavoli, Executive Vice President and Chief Operating Officer, will
give up the title of Chief Financial Officer. This will allow Mr.
Buttacavoli to work closely with me on overall planning, management,
logistical activities, building our core businesses and in the signing of
new fragrance licenses."
About Parlux Fragrances, Inc.
Parlux Fragrances, Inc. is a manufacturer and international distributor
of prestige products. It holds licenses for Paris Hilton fragrances,
watches, cosmetics, sunglasses, handbags and other small leather
accessories in addition to licenses to manufacture and distribute the
designer fragrance brands of GUESS?, XOXO, Ocean Pacific (OP), Maria
Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.
Certain Information Regarding Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, regarding,
among other things, our plans, strategies and prospects, both business and
financial. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance
or achievements of Parlux 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 Parlux's ability to introduce new
products in a cost-effective manner, to increase sales, to add new
licenses, or to maintain and strengthen existing licensing relationships,
as well as general economic conditions and continued compliance with the
covenants in our credit facility. Additional risk factors are set forth in
the Company's periodic reports filed with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date thereof. Parlux
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/
http://www.prnewswire.com/comp/674987.html/
CONTACT:
Neil J. Katz, CEO of Parlux Fragrances, Inc.
+1-954-316-9008 Ext. 8116
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