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Non-Tech : Parlux (PARL) Fragrances
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To: JEFF CHAPMAN who wrote (438)6/11/1997 8:00:00 PM
From: Stingray   of 527
 
Wow I didn't expect an answer that fast. I didn't know the results would come out today. According to my calculations we have

Net Income (3,994,237) or a loss of 22.6c per share
Restructuring charges 5,800,000 or 32.8c per share.
Net income excluding restructuring charges +10.2c per share. This is traditionally the slowest sales quarter of the year so if (and this is a big if) the 10c is a reasonable basis for extrapolation Parlux should earn around 50c/share in the coming fiscal year.

For the year the income per share is 1c, if you add in the 32.8c restructuring charge and the 5.1c to redeem the debentures that comes to around 40c/share for the whole year.

I don't know why the number of shares outstanding increased by 300K. I would really like to see Parlux buy back some stock while it's so low, it would seem to be in the interests of the officers of the company who are all major shareholders to do so, even if they don't care about the rest of us shareholders.

I don't see any real bad surprises in these numbers. I think the market will respond favorably, the earnings before restructuring charges of 10c in a slow quarter are pretty good for a stock that's trading at just over 2 1/2. Of course I could be wrong about how the market will react but I'm pretty comfortable with those results.
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