11.05.09
Parlux Fragrances, Inc.posted results of its second quarter ended Sept. 30, 2009. Net sales reached $56.5 million - an 8% increase over the prior year. For the six-month period ended Sept. 30, 2009, net sales climbed 6% to $80.1 million.
Mr. Neil J. Katz, chairman and chief executive officer, said, "We have strategically continued to invest in building the Parlux portfolio of brands, led by the recent launches of Queen Latifah, Josie Natori, and Marc Ecko, all of which are exceeding retailers planned sales in their respective distribution channels." Mr. Katz continued, "As you are aware, we are transitioning out of our GUESS? business on an orderly basis as of Dec. 31, 2009, and we fully expect that the new brands in fiscal year 2011 will exceed our past GUESS? business."
Mr. Katz said, "I am extremely pleased that we have been able to effectively launch three new brands, as well as a new Paris Hilton and a new Jessica Simpson brand, while prudently maintaining spending investment at prior year levels. This has allowed us to absorb our first quarter loss, and to achieve profitability for the six-month period."
Mr. Katz concluded, "I believe that this performance, combined with an anticipated improved holiday season, will help lead to a positive conclusion on a new financing arrangement. In the meantime, we are projecting to be cash-flow positive through the balance of the year ending March 31, 2010, and remain prudently optimistic regarding profitable results for fiscal 2010."
Mr. Neil J. Katz, chairman and chief executive officer, said, "We have strategically continued to invest in building the Parlux portfolio of brands, led by the recent launches of Queen Latifah, Josie Natori, and Marc Ecko, all of which are exceeding retailers planned sales in their respective distribution channels." Mr. Katz continued, "As you are aware, we are transitioning out of our GUESS? business on an orderly basis as of Dec. 31, 2009, and we fully expect that the new brands in fiscal year 2011 will exceed our past GUESS? business."
Mr. Katz said, "I am extremely pleased that we have been able to effectively launch three new brands, as well as a new Paris Hilton and a new Jessica Simpson brand, while prudently maintaining spending investment at prior year levels. This has allowed us to absorb our first quarter loss, and to achieve profitability for the six-month period."
Mr. Katz concluded, "I believe that this performance, combined with an anticipated improved holiday season, will help lead to a positive conclusion on a new financing arrangement. In the meantime, we are projecting to be cash-flow positive through the balance of the year ending March 31, 2010, and remain prudently optimistic regarding profitable results for fiscal 2010."
