0-15491 | 22-2562955 | |
(Commission File Number) | (IRS Employer Identification No.) |
5900 North Andrews Avenue,
Suite 500,
Fort Lauderdale,
Florida
|
33309 | |
(Address of Principal Executive Offices) | (Zip Code) |
Press release of Parlux Fragrances, Inc., dated November 2, 2011.
|
PARLUX FRAGRANCES, INC. | |||
Dated: November 3, 2011
|
By:
|
/s/ Raymond J. Balsys | |
Raymond J. Balsys, | |||
Vice President and Chief Financial Officer | |||
(Principal Financial and Principal Accounting Officer) |
Press release of Parlux Fragrances, Inc., dated November 2, 2011.
|
FOR:
|
Parlux Fragrances, Inc. (954) 316-9008 |
CONTACT:
|
Frederick E. Purches, Ext. 8116
|
Raymond J. Balsys, Ext. 8106
|
Web site:
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http://www.parlux.com
|
PARLUX FRAGRANCES, INC. AND SUBSIDIARIES
|
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||||||
(In thousands, except number of shares and per share data)
|
||||||||||||||||
Three Months Ended
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Six Months Ended
|
|||||||||||||||
September 30,
|
September 30,
|
|||||||||||||||
2011
|
2010
|
2011
|
2010
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
Net sales:
|
||||||||||||||||
Unrelated customers
|
$ | 27,595 | $ | 17,503 | $ | 42,380 | $ | 31,823 | ||||||||
Related parties
|
18,442 | 20,633 | 26,556 | 29,644 | ||||||||||||
Sales - expired license
|
- | 443 | - | 1,226 | ||||||||||||
46,037 | 38,579 | 68,936 | 62,693 | |||||||||||||
Cost of goods sold:
|
||||||||||||||||
Unrelated customers
|
11,475 | 8,221 | 18,136 | 13,990 | ||||||||||||
Related parties
|
9,358 | 10,464 | 13,035 | 14,324 | ||||||||||||
Cost of sales - expired license
|
- | 443 | - | 1,225 | ||||||||||||
20,833 | 19,128 | 31,171 | 29,539 | |||||||||||||
Operating expense
|
19,624 | 17,469 | 36,652 | 30,804 | ||||||||||||
Operating income
|
5,580 | 1,982 | 1,113 | 2,350 | ||||||||||||
Interest (expense) income, net
|
(187 | ) | (208 | ) | (391 | ) | (203 | ) | ||||||||
Foreign exchange loss
|
2 | (2 | ) | 1 | - | |||||||||||
Income before income taxes
|
5,395 | 1,772 | 723 | 2,147 | ||||||||||||
Income tax provision
|
2,050 | 673 | 275 | 816 | ||||||||||||
Net income
|
$ | 3,345 | $ | 1,099 | $ | 448 | $ | 1,331 | ||||||||
Income per common share:
|
||||||||||||||||
Basic
|
$ | 0.16 | $ | 0.05 | $ | 0.02 | $ | 0.06 | ||||||||
Diluted
|
$ | 0.16 | $ | 0.05 | $ | 0.02 | $ | 0.06 | ||||||||
Weighted average number of shares outstanding:
|
||||||||||||||||
Basic
|
20,765,831 | 20,489,812 | 20,758,036 | 20,482,807 | ||||||||||||
Diluted
|
20,978,947 | 20,641,003 | 20,864,594 | 20,613,603 |
CONDENSED CONSOLIDATED BALANCE SHEET DATA
|
||||||||
(In thousands)
|
||||||||
September 30,
|
March 31,
|
|||||||
2011
|
2011
|
|||||||
(Unaudited)
|
||||||||
Cash and cash equivalents
|
$ | 12,123 | $ | 20,511 | ||||
Trade receivables, net
|
42,165 | 24,758 | ||||||
Inventories
|
42,204 | 37,373 | ||||||
Other current assets
|
20,107 | 21,352 | ||||||
Current Assets
|
116,599 | 103,994 | ||||||
Equipment and leasehold improvements, net
|
1,489 | 1,844 | ||||||
Trademarks and licenses, net
|
3,894 | 4,195 | ||||||
Other assets
|
2,432 | 2,673 | ||||||
Total Assets
|
$ | 124,414 | $ | 112,706 | ||||
Borrowings, current portion
|
$ | 37 | $ | - | ||||
Other current liabilities and income taxes payable
|
21,868 | 10,975 | ||||||
Current Liabilities
|
21,905 | 10,975 | ||||||
Borrowings, less current portion
|
68 | - | ||||||
Total Liabilities
|
21,973 | 10,975 | ||||||
Stockholders' Equity
|
102,441 | 101,731 | ||||||
Total Liabilities and Stockholders' Equity
|
$ | 124,414 | $ | 112,706 |