USA : Parlux fragrances announces Q3 results

February 18, 2008

Parlux Fragrances Inc announced its results for the quarter and nine month period ended December 31, 2007. Net sales from continuing operations for the quarter increased to $44,543,788 compared to $43,416,309 in the same period of the prior year, an increase of 3%. Operating expenses from continuing operations were $21,896,502 compared to $26,312,768 in the prior year, a reduction of 17%.

Operating income from continuing operations was $493,840 compared to a loss of $8,218,192 in the prior year. Net income for the three months ended December 31, 2007 was $182,681 compared to $17,938,864 in the prior year. The prior year period included net income of $23,402,021 from the Perry Ellis fragrance brand, and related assets, which were sold in December 2006, and is reported as discontinued operations.

Net sales from continuing operations for the nine month period ended December 31,2007 increased to $113,277,679 compared to $98,785,112 in the same period of the prior year, an increase of 15%. Operating expenses from continuing operations were $51,224,419 compared to $73,668,482 in the same period of the prior year, a reduction of 30%.

The prior year included a $16,201,950 non-cash, share-based compensation charge in connection with the June 2006 stock split. Operating income from continuing operations was $3,936,495 compared to a loss of $29,049,432 in the prior year.

Net income for the nine month period was $2,116,551 compared to $7,467,217 inthe same prior year period, which included net income of $29,700,305 from discontinued operations during the period.

Parlux Fragrances Inc

Source @ Fibre2fashion