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Parlux Q2

This article was originally published in The Rose Sheet

Executive Summary

Sales slid 1% to $38.9 mil. for the quarter ended Sept. 30, 2006, while net income dropped 17% to $3.6 mil, Parlux reports March 30. For the six months, net sales were up 9% to $79.7 mil., with a net loss of $10.5 mil. due to a charge related to the company's June 2006 stock split, Parlux says. "I am pleased, after over four months of delays, we are moving forward with our reporting responsibilities," interim CEO Neil J. Katz remarks. In March, Nasdaq gave Parlux a March 31 deadline to report its second- and third-quarter financials before being delisted from the stock market. Parlux has since filed the former, but will not file the latter by deadline; it has asked Nasdaq for an April 16 extension. The firm cannot be sure that Nasdaq will grant the request but expects to be able to provide an update on the status of its Nasdaq listing next week. "I am optimistic that we will be issuing our third quarter results in a short period of time. We expect that our reporting delinquencies will shortly be a thing of the past," Katz said...
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