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JEAN PHILIPPE FRAGRANCES REPORTS RECORD RESULTS; EARNINGS PER SHARE FOR SECOND QUARTER 1992: $.12 VS. $.02 FOR 1991; SALES UP 68 PERCENT

JEAN PHILIPPE FRAGRANCES REPORTS RECORD RESULTS; EARNINGS PER SHARE FOR
 SECOND QUARTER 1992: $.12 VS. $.02 FOR 1991; SALES UP 68 PERCENT
 NEW YORK, Aug. 13 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN), reported today record sales and earnings for the second quarter ended June 30, 1992,.
 Net sales for the three months ended June 30, 1992 increased 68 percent to $9,037,182 from $5,375,696 for the corresponding quarter of the prior year.
 Net income for the three months ended June 30, 1992 increased 555 percent to $656,804 from $100,245 for the corresponding quarter of the prior year.
 Net sales for the six months ended June 30, 1992 increased 48 percent to $15,248,027 from $10,286,588 for the six months ended June 30, 1991.
 Net income for the six months ended June 30, 1992 increased 217 percent to $1,110,894 from $350,120 for the six months ended June 30, 1991.
 Net income for the six months ended June 30, 1992 increased 217 percent to $1,110,894 from $350,120 for the six months ended June 30, 1991.
 In announcing the results, Jean Madar, the president and chief executive officer, stated: "The market acceptance of our new line of Alternative Designer Fragrances has set new heights for our company. This expanding product line is specifically marketed to mass market retailers and distributors for resale to value conscious yet quality oriented consumers."
 Madar further stated: "As a result of its huge success we are increasing the product selection to 60 fragrances. In addition, to complement the selection of fragrances, in July we introduced a line of deodorant sticks and are about to introduce a line of body sprays."
 Madar continued: "We are very pleased with the second quarter results in that in addition to increased sales and earnings we decreased cost of sales and selling, general and administrative expenses to 54 percent and 34 percent of sales, respectively. In addition, with the strong backlog of orders in house and the current level of reorders, we anticipate substantial increases in sales and earnings for the third quarter of 1992."
 JEAN PHILIPPE FRAGRANCES, INC.
 Periods ended Three months Six months
 June 30 1992 1991 1992 1991
 Net sales $9,037,182 $1,575,696 $15,248,027 $10,286,588
 Cost of sales 4,834,272 3,188,799 8,216,789 5,841,082
 SG&A 3,037,709 2,005,750 5,140,914 3,931,211
 Income from
 operations 1,165,201 181,147 1,890,324 514,295
 Other charges
 (income) 87,612 7,527 108,578 (78,752)
 Income taxes 420,785 73,375 670,852 242,927
 Net income 656,804 100,245 1,110,894 350,120
 Net income per share $0.12 $0.02 $0.20 $0.09
 Common and common
 equivalent shares
 outstanding 5,695,000 4,110,000 5,506,000 4,058,000
 -0- 8/13/92
 /CONTACT: Russell Greenberg of Jean Philippe Fragrances, 212-983-2640/
 (JEAN) CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU: ERN


LR-TS -- NY010 -- 9485 08/13/92 09:12 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
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