$.00
FORT LAUDERDALE, Fla., Aug. 4 /PRNewswire/ -- Parlux Fragrances, Inc. (Nasdaq:PARL) announced today that sales and profits for the quarter ended
June 30, 1997 declined as compared to prior year results due to out-of-stock situations relating to the transition of Alexandra de Markoff cosmetic manufacturing
from Revlon to the Company, and to delays encountered in the worldwide consolidation of warehousing and distribution facilities.
Net sales decreased 29% to $13,297,312 in the current year, compared to $18,739,627 in the prior year. Net income for the current period was $15,507 as
compared to $1,934,075 in the prior year. Earnings per share decreased to less than $0.01 per share, compared to $0.13 per share last year.
Commenting on the results, Ilia Lekach, Chairman and Chief Executive Officer of Parlux said, ``The operational problems faced during the first quarter continue to
be addressed, and we look forward to future profitability.''
Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige fragrances, cosmetics and related beauty products. Parlux holds the licenses to
manufacture and distribute the designer fragrance brands of Perry Ellis, Fred Hayman Beverly Hills, Baryshnikov, Vicky Tiel and Phantom of the Opera. The
Company also owns, manufactures and distributes Alexandra de Markoff cosmetics, the Bal A Versailles fragrance and Animale Parfums.
Parlux Fragrances, Inc.
Consolidated Statements of Income
Three Months Ended June 30, 1997 1996
Net sales $13,297,312 $18,739,627
Operating income 335,985 3,581,939
Net income 15,507 1,934,075
Fully diluted earnings per
share $0.00 $0.13
Weighted average shares
outstanding 17,745,436 15,351,469 |
