PARLUX FRAGRANCES INC

CIK:0000802356|SEC Filings

Basic and Diluted (Loss) Earnings Per Share

9 Months Ended

Dec. 31, 2011

Basic and Diluted (loss) Earnings Per Common Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Basic and Diluted (Loss) Earnings Per Common Share

The following is the reconciliation of the numerators and denominators of the basic and diluted net (loss) income per common share calculations:



	Three Months Ended December 31,
	2011			2010
Net loss	$	(3,359	)	$	(273	)
Weighted average number of shares issued	30,438,339			30,165,311
Weighted average number of treasury shares	(9,668,977		)	(9,668,977		)
Weighted average number of shares outstanding used in basic earnings per share calculation	20,769,362			20,496,334
Basic net loss per common share	$	(0.16	)	$	(0.01	)
Weighted average number of shares outstanding used in basic earnings per share calculation	20,769,362			20,496,334
Effect of dilutive securities:
Stock options and warrants	—			—
Weighted average number of shares outstanding used in diluted earnings per share calculation	20,769,362			20,496,334
Diluted net loss per common share (1)	$	(0.16	)	$	(0.01	)
Antidilutive securities not included in diluted earnings per share computation:
Options and warrants to purchase common stock	7,191,775			7,333,475
Exercise price	$0.82 to $5.55			$0.82 to $5.55



	Nine Months Ended December 31,
	2011			2010
Net (loss) income	$	(2,911	)	$	1,058
Weighted average number of shares issued	30,430,788			30,156,293
Weighted average number of treasury shares	(9,668,977		)	(9,668,977		)
Weighted average number of shares outstanding used in basic earnings per share calculation	20,761,811			20,487,316
Basic net (loss) income per common share	$	(0.14	)	$	0.05
Weighted average number of shares outstanding used in basic earnings per share calculation	20,761,811			20,487,316
Effect of dilutive securities:
Stock options and warrants	—			87,197
Weighted average number of shares outstanding used in diluted earnings per share calculation	20,761,811			20,574,513
Diluted net (loss) income per common share (1)	$	(0.14	)	$	0.05
Antidilutive securities not included in diluted earnings per share computation:
Options and warrants to purchase common stock	7,191,775			6,765,094
Exercise price	$0.82 to $5.55			$3.30 to $5.55

———————


(1)	The number of shares utilized in the calculation of diluted loss per share was the same as those used in the basic calculation of net loss per share for the three and nine-months ended December 31, 2011, and for the nine-months ended December 31, 2010, as the Company incurred a net loss for these periods.

Cash Flow Information

9 Months Ended

Dec. 31, 2011

Cash Flow Information [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

Cash Flow Information

The Company considers temporary investments with an original maturity of three months or less to be cash equivalents. Supplemental disclosures of cash flow information are as follows:



	Nine Months Ended December 31,
	2011		2010
Cash received for:
Income taxes	$	40	$	7,228
Cash paid for:
Interest and bank charges	$	616	$	413
Income taxes	$	389	$	156

Supplemental disclosure of non-cash investing and financing activities is as follows:

Nine-months ended December 31, 2011:


•	The Company entered into a capital lease for the purchase of computer equipment in the amount of $113 (see Note F for further discussion).

Condensed Consolidated Balance Sheets Statement (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Mar. 31, 2011
CURRENT ASSETS:
Cash and cash equivalents	$ 22,987	$ 20,511
Trade receivables, net of allowance for doubtful accounts, sales returns and advertising allowances of approximately $7,916 and $3,908, respectively	11,188	12,050
Trade receivables from related parties	12,314	12,708
Income tax receivable	323	122
Inventories	43,391	37,373
Prepaid promotional expenses, net	7,001	7,519
Prepaid expenses and other current assets, net	5,582	8,251
Deferred tax assets, net	7,378	5,460
TOTAL CURRENT ASSETS	110,164	103,994
Equipment and leasehold improvements, net	1,292	1,844
Trademarks and licenses, net	3,747	4,195
Deferred tax assets, net	687	687
Other	1,742	1,986
TOTAL ASSETS	117,632	112,706
CURRENT LIABILITIES:
Borrowings, current portion	37	0
Accounts payable	15,862	8,637
Accrued expenses and income taxes payable	2,437	2,338
TOTAL CURRENT LIABILITIES	18,336	10,975
Borrowings, less current portion	59	0
TOTAL LIABILITIES	18,395	10,975
STOCKHOLDERS' EQUITY :
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2011 and March 31, 2011	0	0
Common stock, $0.01 par value, 40,000,000 shares authorized, and 30,438,339 and 30,397,789 shares issued at December 31, 2011 and March 31, 2011, respectively	304	304
Additional paid-in capital	107,046	106,629
Retained earnings	27,160	30,071
Subtotal	134,510	137,004
Less 9,668,977 shares of common stock in treasury, at cost, at December 31, 2011 and March 31, 2011	(35,273)	(35,273)
TOTAL STOCKHOLDERS' EQUITY	99,237	101,731
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 117,632	$ 112,706