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Parlux Fragrances, Inc. released the latest results for the quarter ended June 30, 2010. Net sales rose 2% to $24.1 million.
Frederick E. Purches, chairman and chief executive officer, commented, "We were able to increase our sales in this quarter despite the inclusion of $11.8 million of Guess product sales in the prior year. Although we expect total sales in the next two quarters will be negatively impacted in comparison to the prior year (we ceased selling Guess in December 2009), we anticipate growth in existing brands in this fiscal year.
“Of special significance was our return to profitability. This was basically due to careful cost control, as operating expenses were reduced by $3.6 million or 21% compared to the same prior year period."
Frederick E. Purches, chairman and chief executive officer, commented, "We were able to increase our sales in this quarter despite the inclusion of $11.8 million of Guess product sales in the prior year. Although we expect total sales in the next two quarters will be negatively impacted in comparison to the prior year (we ceased selling Guess in December 2009), we anticipate growth in existing brands in this fiscal year.
“Of special significance was our return to profitability. This was basically due to careful cost control, as operating expenses were reduced by $3.6 million or 21% compared to the same prior year period."
