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Parlux net sales up 73% for year ended March 31, 2005

Jun '05
Leading prestige fragrances manufacturer & international distributor Parlux Fragrances Inc announced results for its fiscal year ended March 31, 2005.

Net sales for the year ended March 31, 2005 reached $100,360,981 compared to $80,580,709 for the prior year, an increase of 25%. Net income increased 73% to $10,824,256 ($1.02 per share), compared to $6,267,615 ($0.63 per share), for the prior year.

Net sales for the fourth quarter were $25,927,922 compared to $19,623,527 for the comparable quarter of the prior year, an increase of 32%. Net income increased 38% to $3,390,697 ($0.32 per share), compared to $2,461,176 ($0.24 per share), for the comparable quarter in 2004.

Commenting on the results, Mr. Ilia Lekach, Chairman and Chief Executive Officer, said, "They view our attainment of the $100 million sales level as a first step to significantly increase revenues for fiscal 2006.

The success of our Paris Hilton fragrance, the continued growth of our core Perry Ellis brand, and the recent addition of the XOXO brand have provided a solid platform for our new GUESS? fragrance launch in July and the launch of our Maria Sharapova fragrance scheduled for September.

Our penetration into the luxury goods market for watches, handbags and other small leather accessories under the Paris Hilton name, scheduled to be introduced during the last two quarters of our fiscal year, are projected to add to this sales growth."

Mr. Lekach added, "This past year, they also increased our operating income to 17% of sales compared to 13% for the prior year. This improved operating performance resulted in earnings per share exceeding analysts' expectations. I appreciate and congratulate all who contributed to these results.

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