08.07.09
Parlux Fragrances, Inc. reported its financial results for the three months ended June 30, 2009. Net sales for the first quarter ended June 30, 2009, increased 1% to $23.6 million. Operating expenses decrease 14% to$16.9 million.
When compared to the comparable prior year period, domestic sales increased by 53%, offset by a decrease in international sales of 36% due to continuing economic difficulties in the global market.
Chairman and Chief Executive Officer Neil Katz said, "We continue, during this difficult economic time which has kept the consumer at home, to look at further cost cutting measures. Our introductions of Paris Hilton 'Siren', Jessica Simpson 'Fancy Love', Queen Latifah, Marc Ecko and Josie Natori are all on schedule for our second quarter, while Nicole Miller has been delayed until spring 2010.
"All of our new brands have been well received by retailers and are already beginning to appear on counters and in display windows in stores. We expect sales to increase in the second quarter over last year's comparable period due to these new brands, despite the fact that the retail environment has not shown the same signs of improvement as other areas of the economy."
When compared to the comparable prior year period, domestic sales increased by 53%, offset by a decrease in international sales of 36% due to continuing economic difficulties in the global market.
Chairman and Chief Executive Officer Neil Katz said, "We continue, during this difficult economic time which has kept the consumer at home, to look at further cost cutting measures. Our introductions of Paris Hilton 'Siren', Jessica Simpson 'Fancy Love', Queen Latifah, Marc Ecko and Josie Natori are all on schedule for our second quarter, while Nicole Miller has been delayed until spring 2010.
"All of our new brands have been well received by retailers and are already beginning to appear on counters and in display windows in stores. We expect sales to increase in the second quarter over last year's comparable period due to these new brands, despite the fact that the retail environment has not shown the same signs of improvement as other areas of the economy."
