Perfumania Holdings, Inc. Receives Bank Waivers, NASDAQ Notice

BELLPORT, N.Y., May 27, 2009 (GLOBE NEWSWIRE) -- Perfumania Holdings, Inc. (Nasdaq:PERF - News) announced that its bank lenders have waived the financial covenant defaults under its senior credit facility. In addition, certain amendments were made to the credit facility to better align its provisions to the Company's current business situation. The Company is filing the waiver and amendment agreement on Form 8-K with the Securities and Exchange Commission and encourages investors to read the complete terms of that agreement. Separately, the Company announced that it had received a notice from The NASDAQ Stock Market ("NASDAQ") advising that, because the Company did not file its Form 10-K for the fiscal year ended January 31, 2009 ("fiscal 2008") by the due date, it is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission ("SEC"). NASDAQ has provided the Company 60 calendar days to submit a plan to regain compliance. The Company did not file the Form 10-K by the due date because it has not finalized the calculations required to determine whether a valuation reserve against deferred tax assets is required and, if so, the amount, and has not resolved the accounting recognition required for certain other matters, so as to enable the Company to finalize its consolidated financial statements for fiscal 2008. The Company is filing a Form 8-K with the SEC providing substantial information about its results of operat...
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Perfumania Holdings, Inc. Receives NASDAQ Notice

BELLPORT, N.Y., June 29, 2009 (GLOBE NEWSWIRE) -- Perfumania Holdings, Inc. (Nasdaq:PERF - News) announced that it had received a notice from The NASDAQ Stock Market ("NASDAQ") advising that, because the Company did not file its Form 10-Q for the fiscal quarter ended May 2, 2009 by the due date, it is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission ("SEC"). NASDAQ has provided the Company 60 calendar days to submit a plan to regain compliance. The Company is working to file the Form 10-Q, as well as the Form 10-K for its fiscal year ended January 31, 2009, as soon as possible, and will submit a plan to regain compliance to NASDAQ if necessary. If the Company submits such a plan, NASDAQ may allow it until November 12, 2009 to regain compliance. The NASDAQ notice has no effect on the listing of the Company's common stock at this time. Forward-Looking Statements This press release includes forward-looking statements, including those that contain the words "anticipate," "believe," "plan," "estimate," "expect," "should," "intend," and other similar expressions, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performa...
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PERFUMANIA HOLDINGS, INC. Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or S

Show all filings for PERFUMANIA HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for PERFUMANIA HOLDINGS, INC. 29-Jun-2009Notice of Delisting or Failure to Satisfy a Continued Listing Rule or S Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information...
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PERFUMANIA HOLDINGS, INC. Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for PERFUMANIA HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for PERFUMANIA HOLDINGS, INC. 16-Jun-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational...
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PERFUMANIA HOLDINGS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS On August 11, 2008, we issued 5,900,000 shares of our common stock and Warrants to purchase an additional 1,500,000 shares in exchange for the shares of Model Reorg, which merged into our wholly-owned subsidiary, Model Reorg Acquisition LLC. Due to a number of factors, including that the shares issued to the Model Reorg shareholders amounted to approximately 66% of our shares outstanding after the issuance, the transaction has been accounted for as a "reverse acquisition," and Model Reorg is being treated as the "accounting acquirer" in accordance with US GAAP. Accordingly, our historical financial statements reflect the historical results of Model Reorg prior to the transaction date of August 11, 2008 and those of the combined companies beginning effective August 11, 2008. The Company is continuing to use the same fiscal year end, the Saturday closest to January 31, as E Com used before the Merger. Model Reorg's fiscal year end before the Merger was October 31. The audited consolidated financial statements of Model Reorg as of October 31, 2007 and 2006 and for the years ended October 31, 2007, 2006 and 2005 were previously filed with the SEC. The audited consolidated financial statements of Model Reorg as of and for the thirteen weeks ended February 2, 2008 and the unaudited financial statements of Model Reorg as of July 31, 2008 and for the three months and nine months ended July 31, 2008 and 2007 have been filed with the SEC as well. Table of Contents Net sales increased 58.2% from $61.1 million in the three months ended April 30, 2008 to $96.7 million in the thirteen weeks ended May 2, 2009. Excluding the sales from Perfumania's retail division which are included in the above sales information for the period from February 1, 2009 through May 2, 2009, net sales decreased by $11.1 million or 18.2%. Excluding Perfuma...
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PERFUMANIA HOLDINGS, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS GENERAL Management Overview On August 11, 2008, we issued 5,900,000 shares of our common stock and Warrants to purchase an additional 1,500,000 shares of our common stock in exchange for the shares of Model Reorg, which merged into our wholly-owned subsidiary, Model Reorg Acquisition LLC. Because the shares issued to the Model Reorg shareholders amounted to approximately 66% of our shares outstanding after the issuance, the transaction has been accounted for as a "reverse acquisition," and Model Reorg is being treated as the "accounting acquirer." Accordingly, our historical financial statements reflect the historical results of Model Reorg prior to the transaction date of August 11, 2008 and those of the combined companies beginning effective August 11, 2008, and the Merger consideration has been allocated among the fair values of E Com's assets and liabilities as of the Merger date. All intercompany balances and transactions have been eliminated in consolidation. The Company is continuing to use the same fiscal year end, the Saturday closest to January 31, as E Com used before the Merger. Since Model Reorg's fiscal year end before the Merger was October 31, its fiscal quarter that began November 1, 2007 and ended immediately before the beginning of E Com's next fiscal year on February 3, 2008 is a separately audited transition period. We refer to the fiscal year beginning February 3, 2008 and ending January 31, 2009 as "fiscal 2008", the transition period beginning November 1, 2007 and ending February 2, 2008 as the "transition period", and the fiscal year beginning November 1, 2007 and ending October 31, 2008 as "fiscal 2007". The audited consolidated financial statements of Model Reorg as of October 31, 2007 and for the year ended October 31, 2007, as well as the audited consolidated financial statements of Mo...
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PERFUMANIA HOLDINGS, INC. Financials

PERIOD ENDING1-Aug-092-May-0931-Jan-091-Nov-08Total Revenue107,288  96,660  177,992  132,629  Cost of Revenue70,219  60,826  122,285  102,767  Gross Profit37,069  35,834  55,707  29,863  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative38,684  38,709  53,385  14,950  Non Recurring -   -  68,078   -  Others3,351  2,490  3,826  (35)Total Operating Expenses -   -   -   -  Operating Income or Loss(4,966)(5,365)(69,582)14,947  Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes(4,966)(5,365)(69,582)14,947  Interest Expense4,571  4,501  3,732  6,425  Income Before Tax(9,537)(9,866)(73,314)8,522  Income Tax Expense -   -  13,992  3,274  Minority Interest -   -   -   -  Net Income From Continuing Ops(9,537)(9,866)(87,306)5,248  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   - ...
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PERFUMANIA HOLDINGS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS On August 11, 2008, we issued 5,900,000 shares of our common stock and Warrants to purchase an additional 1,500,000 shares in exchange for the shares of Model Reorg, which merged into our wholly-owned subsidiary, Model Reorg Acquisition LLC. Due to a number of factors, including that the shares issued to the Model Reorg shareholders amounted to approximately 66% of our shares outstanding after the issuance, the transaction has been accounted for as a "reverse acquisition," and Model Reorg is being treated as the "accounting acquirer" in accordance with US GAAP. Accordingly, our historical financial statements reflect the historical results of Model Reorg prior to the transaction date of August 11, 2008 and those of the combined companies beginning effective August 11, 2008. The Company is continuing to use the same fiscal year end, the Saturday closest to January 31, as E Com used before the Merger. Model Reorg's fiscal year end before the Merger was October 31. The audited consolidated financial statements of Model Reorg as of October 31, 2007 and 2006 and for the years ended October 31, 2007, 2006 and 2005 were previously filed with the SEC. The audited consolidated financial statements of Model Reorg as of and for the thirteen weeks ended February 2, 2008 and the unaudited financial statements of Model Reorg as of July 31, 2008 and for the three months and nine months ended July 31, 2008 and 2007 have been filed with the SEC as well. Net sales increased 68.2% from $63.8 million in the three months ended July 31, 2008 to $107.3 million in the thirteen weeks ended August 1, 2009. Excluding the sales from Perfumania's retail division which are included in the above sales information for the thirteen week period ended August 1, 2009, net sales decreased by $14.1 million or 22.1%. Excluding Perfumania's results, the decrease in sales was primarily...
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Perfumania Holdings, Inc. Announces Nasdaq Compliance Notice

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PERFUMANIA HOLDINGS, INC. Files SEC form 8-K, Other Events

Show all filings for PERFUMANIA HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for PERFUMANIA HOLDINGS, INC. 15-Oct-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended f...
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