FORT LAUDERDALE, Fla., July 11 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (Nasdaq: PARL) announced today that it is exploring
various strategic alternatives to enhance shareholder value, including the
possible sale of the Company. The Company stated that there could be no
assurance that this process will result in any specific transaction.
The Company also stated that it does not expect to disclose
developments with respect to the exploration of strategic alternatives
unless and until its Board of Directors has approved a definitive
transaction. Parlux Fragrances, Inc. has retained Citigroup Global
Markets Inc. and Oppenheimer & Co. as its financial advisors to assist in
this effort.
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, Paris Hilton,
GUESS?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, babyGund,
and Fred Hayman Beverly Hills. Parlux also recently signed licenses to
manufacture and distribute Paris Hilton watches, cosmetics and handbags
and other small leather accessories.
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 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 Fragrances, Inc.,
+1-954-316-9008
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