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Parlux

This article was originally published in The Rose Sheet

Executive Summary

Net sales grew 12% to $80.5 mil. in fiscal 2004 (ended March 31), firm reports. Net income was up 14% to $6.3 mil., and diluted earnings per share rose 17% to $.63. "We are pleased with our sales increase considering that prior year sales include over $6 mil. of brands which were sold/sublicensed during that period," Chairman and CEO Ilia Lekach states. "Excluding those brands, our sales increase would have exceeded 22%, which confirms the strength of our core business," exec adds. Parlux divested the Animale brand and reduced sales of Jockey fragrances last year (1"The Rose Sheet" Aug. 18, 2003, In Brief). Firm anticipates launches of Guess and Paris Hilton fragrances will drive growth going forward...

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Divestiture of Animale fragrance brand and a reduction in Jockey fragrance sales due to difficult comparison with the year-ago period contributed to 14.5% decline in net sales to $16.9 mil. for the first quarter (ended June 30), Parlux announces Aug. 13. Loss of sales from Animale equaled $1.8 mil., while sales of Jockey fragrances declined $1.1 mil. compared with last year, firm notes. Net income fell 35.7% to $717,344 despite reduced spending due to lower sales and product mix, firm adds. Parlux also markets Perry Ellis and Ocean Pacific fragrances...

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