Sales & Earnings In Brief
This article was originally published in The Rose Sheet
Executive Summary
Parlux Fragrances: Second quarter sales for the period ended Sept. 30, 2006 were flat, decreasing 1% to $39.1 mil., while net income dropped 20% to $3.5 mil. due to lower gross margins, royalties on non-fragrance products and additional expenses, company announces Jan. 9 after a delay in its financial review. Net sales for the first two quarters increased 9% to $79.8 mil., Parlux says. Third quarter sales (ended Dec. 31) were higher than the prior-year period, and the $63 mil. in cash received from sale of the Perry Ellis fragrance license "leaves Parlux well-positioned to enhance value for our shareholders," according to CEO Ilia Lekach. Parlux, which markets the Paris Hilton,GUESS? and Ocean Pacific brands, among others, sold Perry Ellis back to licensor Perry Ellis International in December (1"The Rose Sheet" Dec. 11, 2006, In Brief)...