surf1944
17 years ago
Parlux Announces Results for the Quarter Ended June 30, 2007
Parlux Fragrances, Inc. (NASDAQ: PARL) announced today its results for the three months ended June 30, 2007. Net sales from continuing operations were $31,380,468, compared to $28,248,179 in the same period of the prior year, an increase of 11%. Operating expenses from continuing operations were $15,602,803 compared to $32,228,654 in the prior year period, which included a non-cash share based compensation charge of $16,201,950. Operating income for the three months ended June 30, 2007 was $367,979 as compared to an operating loss of $18,900,857 for the same period of the prior year. Net loss from continuing operations was $49,613 compared to a loss of $17,235,703 in the same period of the prior year. Net loss for the three months ended June 30, 2007 was $97,628 compared to a loss of $14,120,958 in the same period of the prior year. Earnings per share on a diluted basis were a loss of $0.00 compared to a loss of $0.78 per share in the same period of the prior year.
Mr. Neil Katz, Chairman and CEO, noted that, "The Company has made significant progress on many fronts. We have assessed the strengths and weaknesses of the organization, expanded our financial team, consolidated our distribution facilities, and defined a strategic plan." Mr. Katz continued, "A significant part of the strategic plan has been initiated through the signing of worldwide fragrance license agreements with Jessica Simpson, and most recently, with Nicole Miller. We have moved aggressively to build our core business in prestige distribution, and have positioned ourselves for strong profitable growth."
Conference Call
Due to shareholder interest, the Company will hold a conference call on Tuesday, August 28, 2007 at 10:00 a.m. (EDT) to discuss the Company’s quarterly results and to provide additional outlook on the next quarter. To participate, please call: Participant Toll Free: 866-542-4238 or Participant International: 416-641-6125. A replay of the conference call will also be available from Tuesday, August 28, 2007, after 1:00 p.m., until midnight August 31, 2007. To access the rebroadcast, Digital Replay Toll Free: 800-408-3053 or Digital Replay International: 416-695-5800 (Digital Pin: 3231789).
About Parlux
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 Nicole Miller, GUESS?, Jessica Simpson, 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 successfully introduce, acquire, or launch new brands, licenses, or products in a cost-effective manner, 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.
PARLUX FRAGRANCES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30, 2007 2006
------------- -------------
Net sales:
Unrelated customers $ 12,568,507 $ 20,183,483
Related parties 18,811,961 8,064,696
------------- -------------
31,380,468 28,248,179
------------- -------------
Cost of goods sold:
Unrelated customers 5,865,105 10,913,456
Related parties 9,544,581 4,501,391
------------- -------------
15,409,686 15,414,847
------------- -------------
Operating expenses:
Advertising and promotional 7,000,320 9,214,485
Selling and distribution 2,578,050 2,829,290
Royalties 2,712,341 1,595,594
General and administrative,
(including share-based compensation
charge of $16,201,950 in 2006) 2,705,189 18,112,255
Depreciation and amortization 606,903 477,030
------------- -------------
Total operating expenses 15,602,803 32,228,654
------------- -------------
Gain on sale of property held for sale -- 494,465
------------- -------------
Operating income (loss) from continuing
operations 367,979 (18,900,857)
Interest expense, net (446,669) (689,273)
Foreign exchange (loss) gain (1,332) 14,331
------------- -------------
Loss from continuing operations before income
taxes (80,022) (19,575,799)
Income tax benefit 30,409 2,340,096
------------- -------------
Net loss from continuing operations (49,613) (17,235,703)
------------- -------------
Discontinued operations:
(Loss) income from operations of Perry
Ellis fragrance brand, (77,443) 5,023,782
Income tax benefit (provision) related to
Perry Ellis brand activity 29,428 (1,909,037)
------------- -------------
(Loss) income from discontinued operations (48,015) 3,114,745
------------- -------------
Net loss $ (97,628) $ (14,120,958)
============= =============
Diluted earnings (loss) per common share:
Continuing operations $ (0.00) $ (0.95)
------------- -------------
Discontinued operations $ (0.00) $ 0.17
------------- -------------
Total $ (0.00) $ (0.78)
============= =============
Weighted average shares outstanding: 18,108,154 18,035,431
FOR:
Parlux Fragrances, Inc.
(954) 316-9008
CONTACT:
Neil J. Katz, Ext. 8116
Raymond J. Balsys, Ext. 8106
Web site: http://www.parlux.com
Source: Market Wire (August 14, 2007 - 2:22 PM EST)
News by QuoteMedia
surf1944
17 years ago
Nicole Miller Signs Global Fragrance License With Parlux Fragrances, Inc.
Parlux Fragrances, Inc. (NASDAQ: PARL) ("Parlux") announced today a global licensing arrangement with Nicole Miller for the development, marketing and distribution of fragrances under the Nicole Miller and nicole by Nicole Miller Brand names. Launch of a prestige Nicole Miller scent for the fine specialty store market in the United States is planned for Holiday 2008, with a worldwide roll-out to follow. The initial term of the license is five years.
The new agreement combines the unique creative perspective and distinct brand image of Nicole Miller with Parlux, a successful fragrance manufacturer and distributor with global reach, and meets the strategic objectives of each.
"This gives me the opportunity to create the fragrance and concept I have always wanted to," Miller said. "To me, most scents are too old; they age people. My idea is to do something that is sophisticated and elegant, but in a way that is fun, young and light like my clothes."
"Nicole Miller is the perfect partner for us as we implement our plan to round out our portfolio at the upper end," said Neil J. Katz, CEO, Parlux Fragrances, Inc. "Just as she has established a distinct design signature in apparel that appeals to modern women around the world, we feel she will break through in fragrance to create a scent with similar appeal."
Nicole Miller is a New York-based designer, marketer and manufacturer of women's eveningwear, dresses and sportswear under the Nicole Miller signature and collection labels that are distributed through a network of freestanding stores and fine specialty retailers. Through a series of strategic arrangements, Miller also designs and markets accessories, bags, shoes, eyewear, fashion jewelry, home products, furniture and the nicole by Nicole Miller collection that are manufactured and distributed by licensee companies.
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), Jessica Simpson, Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.
ClaudioM
17 years ago
Camuto Group and Parlux Fragrances, Inc. Partner With Jessica Simpson to Launch Signature Fragrance
Wednesday June 27, 9:00 am ET
2008 Introduction Planned for First Fragrance From America's Sweetheart
FORT LAUDERDALE, FL--(MARKET WIRE)--Jun 27, 2007 -- Camuto Group and Parlux Fragrances, Inc.("Parlux") (NasdaqGS:PARL - News) announced today the signing of a global licensing agreement with American Icon, Jessica Simpson, to launch her very first signature fragrance.
The fragrance line will debut in July 2008, in the U.S., with an international roll-out shortly thereafter. The fragrance will reflect Ms. Simpson's style, personality and confidence.
According to Ms. Simpson, "I wanted to partner with a company that would be able to express my personality through a fragrance. After meeting with Parlux, I'm extremely excited to start the development process with them."
"We are proud to partner with both the Camuto Group and Jessica Simpson, whose talent, charm and values have made her America's Sweetheart and have shown her to be the kind of person that women of all ages can admire," says Neil Katz, Chairman and CEO, Parlux Fragrances, Inc. "Having Jessica as a partner is a great global opportunity for our company."
"Fragrance is a natural product expansion for the Jessica Simpson lifestyle brand," according to Vince Camuto, CEO of the Camuto Group. "We are pleased to add an incredible partner such as Parlux to our ever growing family of licensees."
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 successfully introduce, acquire, or launch new brands, licenses, or products in a cost-effective manner, 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.
Contact:
FOR: Parlux Fragrances, Inc.
Neil J. Katz
CEO
(954) 316-9008 Ext. 8116
http://www.parlux.com
Lori Zelenko
LSZ Communications
(212) 486-9260
http://www.lszcommunications.com
FOR: Camuto Group
Lisa Mitchell
(646) 898-1027
Email Contact
Rager
18 years ago
Parlux Stockholder Requests Approval To Increase Ownership Interest
Tuesday September 5, 10:44 am ET
FORT LAUDERDALE, Fla., Sept. 5 /PRNewswire-FirstCall/ -- Parlux Fragrances, Inc. (Nasdaq: PARL - News) announced today its Board of Directors had received a letter from Glenn Nussdorf advising that, as of August 28, 2006, he had acquired more than 5% of the Company's outstanding common stock in the open market. Mr. Glenn Nussdorf and or his brother Stephen Nussdorf (the "Nussdorfs") propose to acquire additional shares which could exceed fifteen percent (15%) and asked the Board to grant him Interested Stockholder Approval as defined in Section 203 of the Delaware General Corporation Law (DGCL).
The Interested Stockholder Approval was sought by the Nussdorfs, in order that their respective affiliates and associates would not be prohibited from engaging in a business combination with the Company as defined in DGCL Section 203 (c) (3). The Nussdorfs own 37% of E Com Ventures, Inc., a major customer of the Company ,and together with their sister Arlene Nussdorf, control Model Reorg, Inc., a fragrance distributor, retailer and manufacturer.
A special meeting of Parlux's Board of Directors was convened whereby it was agreed to grant the Nussdorfs Interested Stockholder Approval provided that the additional shares of common stock are not acquired directly from any members of Parlux's Board of Directors.
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 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-looking 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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Tina
17 years ago
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