Parlux expectations soar
This article was originally published in The Rose Sheet
Executive Summary
Third quarter sales are expected to roughly double to $56 mil.-$57 mil., fueled by fragrances under its Paris Hilton, Guess and Maria Sharapova brands, firm announces Jan. 9. Company recorded $28.7 mil. in sales in the prior year period. Fully diluted earnings per share for the quarter are expected to be in the range of $.55-$.57, compared to $.27, Parlux adds. Firm likely will report final Q3 results the second week of February. Separately, firm announces Jan. 11 it will increase its credit line with GMAC Commercial Finance from $20 mil. to $30 mil. with an option to increase to $35 mil. Line has been extended through July 2008. Parlux asked for the increase to support its growth objectives...
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