08.15.11
Parlux Fragrances Inc. announced its unaudited results for the first quarter ended June 30, 2011, with net sales for the quarter were $22.9 million, compared to $24.1 million for the prior year quarter, a decrease of 5%. Net loss was $2.9 million or ($0.14) per share, compared to a net profit of $232 thousand, or $0.01 per share, for the same prior year period.
“The results were in line with those previously announced, and were fundamentally due to advertising and promotional investment spending of $9.1 million compared to $5.3 million in the prior year comparable quarter,” said Mr. Frederick E. Purches, chairman and CEO. “The entire increase in spending was strategically directed to expand the launch of Rihanna. Sales of Rihanna were approximately $5 million in the quarter, following approximately $9 million in the final quarter of the prior fiscal year, and we are cautiously optimistic that the brand and the total Company will achieve sales targets in the current fiscal year.”
“The results were in line with those previously announced, and were fundamentally due to advertising and promotional investment spending of $9.1 million compared to $5.3 million in the prior year comparable quarter,” said Mr. Frederick E. Purches, chairman and CEO. “The entire increase in spending was strategically directed to expand the launch of Rihanna. Sales of Rihanna were approximately $5 million in the quarter, following approximately $9 million in the final quarter of the prior fiscal year, and we are cautiously optimistic that the brand and the total Company will achieve sales targets in the current fiscal year.”