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JEAN PHILIPPE REPORTS RECORD THIRD QUARTER RESULTS: SALES UP 21 PCT, NET INCOME UP 34 PCT; EPS: $0.23 VS $0.21 ON 22 PCT MORE SHARES OUTSTANDING

 NEW YORK, Nov. 8 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (The NASDAQ Stock Market, National Market System: JEAN) reported today record sales and earnings for the third quarter ended September 30, 1993.
 Net sales for the three months ended September 30, 1993 increased to $17.8 million or 21 percent as compared to $14.8 million for the corresponding quarter of the prior year.
 Net income for the three months ended September 30, 1993 increased to $2.4 million or 34 percent as compared to $1.8 million for the corresponding quarter of the prior year.
 Net sales for the nine months ended September 30, 1993 increased to $43.5 million or 45 percent as compared to $30.0 million for the nine months ended September 30, 1992.
 Net income for the nine months ended September 30, 1993 increased to $4.5 million or 56 percent as compared to $2.9 million for the nine months ended September 30, 1992.
 In announcing the results, Jean Madar, the President and Chief Executive Officer, stated: "I am delighted that we were able to once again report record sales and earnings. Such results were achieved despite retailers' reluctance to carry inventory at levels seen in the past. Our sales increase would have been even more dramatic had it not been for this cautious retail environment."
 Mr. Madar further stated: "We are actively pursuing potential new acquisitions or licensing agreements that will complement our existing product lines and fit within our distribution network. Our recently signed worldwide license agreements for Burberrys and Ombre Rose and our continued internal growth is expected to contribute greatly to the expansion of our Company for 1994 and beyond."
 JEAN PHILIPPE FRAGRANCES, INC.
 Financial Highlights
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1993 1992 1993 1992
 Net sales $17,810,995 $14,777,022 $43,540,652 $30,025,049
 Cost of sales 9,830,709 8,035,685 24,230,942 16,252,474
 Selling, general
 and administrative 4,158,345 3,859,150 11,926,408 9,000,064
 Income from
 operations 3,821,941 2,882,187 7,383,302 4,772,511
 Other charges
 (income) (63,144) (34,437) 105,203 74,140
 Income before taxes 3,885,085 2,916,624 7,278,099 4,698,371
 Income taxes 1,522,714 1,152,639 2,803,196 1,823,491
 Net income $2,362,371 $1,763,985 $4,474,903 $2,874,880
 Net income per share $0.23 $0.21 $0.45 $0.34
 Common and common equivalent
 shares outstanding 10,487,000 8,593,000 10,053,000 8,370,000
 -0- 11/8/93
 /CONTACT: Russell Greenberg of Jean Philippe, 212-983-2640/


CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU: ERN

LG-TA -- NY077 -- 1861 11/08/93 15:03 EST
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Publication:PR Newswire
Date:Nov 8, 1993
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