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...