FORT LAUDERDALE, Fla., Nov. 14 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (Nasdaq: PARL) announced today its results for the three
months ended September 30, 2005. Net sales were $39,328,298 compared to
$22,723,357 in the same period of the prior year, an increase of 73%. Net
income was $4,439,870 compared to $2,375,971 in the same period of the
prior year, an increase of 87%. Earnings per share were $0.42 on a diluted
basis compared to prior-year earnings of $0.23 per share, an increase of
83%.
For the six-month period ended September 30, 2005, net sales were
$73,145,627 compared to $45,684,560 in the prior period, an increase of
60%. Net income was $8,251,493 ($0.78 per share on a diluted basis)
compared to $4,565,813 ($0.43 per share on a diluted basis) in the same
period of the prior year, an increase of 81%.
Commenting on the results, Ilia Lekach, Chairman and CEO, said, "We
have again achieved record results and are on track to achieve our full-
year estimates as long as the economy remains stable. We have recently
commenced shipments of our second Paris Hilton fragrance 'Just Me,' and
our Limited Edition Paris Hilton watches are being launched this month
through Tourneau, the preeminent fine watch retailer." Mr. Lekach
continued, "The successful launch of GUESS? women's fragrance earlier this
year continues to fuel our growth. We are grateful to our Perry Ellis
licensor for their continued marketing efforts, and look forward to the
launch of Perry Ellis 18 in 2006."
Parlux Fragrances, Inc. is a manufacturer and international
distributor of prestige fragrances and, in addition to Paris Hilton
licenses for fragrances, watches, cosmetics and handbags and small leather
accessories, holds the licenses to manufacture and distribute the designer
fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP), Maria
Sharapova, Andy Roddick, babyGund 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 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)
PARLUX FRAGRANCES, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended September 30, 2005 2004
Net sales:
Unrelated customers $23,860,794 $7,931,474
Related customers 15,467,504 14,791,883
39,328,298 22,723,357
Cost of goods sold:
Unrelated customers 10,060,414 3,923,798
Related customers 7,023,033 7,395,645
17,083,447 11,319,443
Gross margin 22,244,851 11,403,914
Operating expenses 15,001,410 7,600,417
Operating income 7,243,441 3,803,497
Interest expense (income), net 82,362 (28,715)
Income before taxes 7,161,079 3,832,212
Income tax provision 2,721,209 1,456,241
Net income $4,439,870 $2,375,971
Diluted earnings per share $0.42 $0.23
Weighted average shares outstanding 10,537,434 10,516,151
Six Months Ended September 30, 2005 2004
Net sales:
Unrelated customers $43,262,853 $17,037,126
Related customers 29,882,774 28,647,434
73,145,627 45,684,560
Cost of goods sold:
Unrelated customers 18,055,826 8,742,201
Related customers 13,421,103 14,267,708
31,476,929 23,009,909
Gross margin 41,668,698 22,674,651
Operating expenses 28,327,102 15,375,399
Operating income 13,341,596 7,299,252
Interest expense (income), net 32,736 (64,963)
Income before taxes 13,308,860 7,364,215
Income tax provision 5,057,367 2,798,402
Net income $8,251,493 $4,565,813
Diluted earnings per share $0.78 $0.43
Weighted average shares outstanding 10,565,575 10,540,420
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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