BELLPORT, N.Y., June 29, 2009 (GLOBE NEWSWIRE) -- Perfumania Holdings, Inc. (Nasdaq:PERF) 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, performance or achievements expressed or implied by those forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are our ability to integrate and achieve synergies between the Perfumania and Model Reorg businesses, our ability to service our obligations, our ability to comply with the covenants in our senior credit facility, general economic conditions including a decrease in discretionary spending by consumers, competition, the ability to raise additional capital to finance our expansion, and other risks and uncertainties described in our filings with the SEC.