Exhibit 99

[Applica Logo]

FOR IMMEDIATE RELEASE

Contact:		Investor Relations Department
		(305) 362-2611
		investor.relations@applicamail.com

Applica Incorporated Reports 2004 Second-Quarter and
First Half Financial Results

     Miami Lakes, Florida (August 5, 2004) — Applica Incorporated (NYSE: APN) today announced that second-quarter sales for 2004 were $159.0 million, an increase of 16.2% from the same period in 2003. The increase in sales in the second quarter resulted primarily from several new product launches and increased sales of Black & Decker® branded products. For the first six months of 2004, sales were $291.5 million, an increase of 12.9% over the first half of 2003. The increase was largely the result of growth in sales of Black & Decker® branded products benefiting from better point-of-sale of such products, as well as retailers beginning the year at lower inventory levels.

     As previously announced, as a result of the decision to exit its Chinese manufacturing operations, Applica has changed its position with regard to permanently investing $85.5 million of previously undistributed foreign earnings outside of the United States. As a result, there was an additional tax charge in the second quarter of approximately $24.0 million ($1.00 per share), which reflects the U.S. taxes on those earnings. Management believes that the cash impact of these taxes in 2004 will be less than $2.0 million as the result of the use of net operating loss carryforwards and foreign tax credits.

     Also as previously announced, in the second quarter of 2004, the Company recognized a non-cash adjustment to goodwill of $62.8 million (or $46.4 million after tax) as the result of its annual test of its existing goodwill for impairment in accordance with Statement of Financial Accounting Standards (SFAS) No. 142, “Goodwill and Other Intangible Assets.’’ The adjustment was reported as an impairment of goodwill and reduced reported earnings by $1.93 per share for the quarter. The impairment did not impact the Company’s cash position.

     Additionally, in accordance with SFAS No. 109, “Accounting for Income Taxes,” Applica evaluated the realization of its deferred tax assets. Based on the events discussed above and recent historical losses, Applica increased its allowance related to such assets to $51.4 million in the second quarter, resulting in a non-cash tax expense of $2.14 per share.

     Applica reported a net loss for the 2004 second quarter of $123.8 million, or $5.16 per share, compared with a loss of $2.8 million, or $0.12 per share, for the 2003 second quarter. The second-quarter 2003 earnings included $1.5 million of equity in the net earnings of a joint venture in which Applica owned a 50% interest. For the first half of 2004, Applica reported a net loss of $128.3 million, or $5.38 per share, as compared to net income of $16.8 million, or $0.71 per diluted share for the same period last year. The 2003 first-half earnings included $39.0 million of equity in the net earnings of a joint venture.

     Applica’s gross profit margin increased to 30.5% in the three-month period ended June 30, 2004 as compared to 27.8% for the same period in 2003. The increase was primarily attributed to lower product costs resulting from moving core products from Mexico to China, the launch of new products carrying higher margins and better overhead absorption at our

manufacturing facilities during 2004. The increases were offset by increases in raw materials costs, higher inbound freight expenses and start-up expenses related to the launch of the Home Café™ single cup brewing system. For the first half of the year, the gross profit margin increased to 29.5% as compared to 29.1% for the same period in 2003.

     Harry D. Schulman, President and Chief Executive Officer stated, “The combination of inflation in raw materials prices, along with the deflationary pressures from the retail environment, has caused the most severe margin pressure in recent memory. We have been making changes since 2003 to address this matter. We are focusing on more innovative products with higher margins, we have been rationalizing our manufacturing and sourcing strategy and we are attempting to improve our pricing to our customers. The sale of our Chinese manufacturing facilities will allow us to reduce our fixed overhead and risk profile, and will allow us to become more flexible in our ability to react to a rapidly changing global marketplace.”

     At June 30, 2004, total debt as a percentage of total capitalization was 56.3%, with total debt of $143.4 million and shareholders’ equity of $111.3 million. Capital expenditures for the first six months ended June 30, 2004 and 2003 were $8.3 million and $7.6 million, respectively.

     Applica will hold a conference call today at 11:00 a.m., Eastern Daylight Time, to discuss its second-quarter and year-to-date results and to give guidance on future results and trends in operations. Live audio of the conference call will be simultaneously broadcast over the Internet and will be available to members of the news media, investors and the general public. The conference call is expected to last approximately one hour. Broadcast of the event can be accessed on the Company’s website, www.applicainc.com by clicking on the Investor Relations page. You may also access the call via CCBN, at www.streetevents.com. The event will be archived and available for replay through Thursday, August 12, 2004, at midnight.

     Applica Incorporated and its subsidiaries are marketers and distributors of a broad range of branded small electric consumer goods. Applica markets and distributes kitchen products, home products, pest control products, pet care products and personal care products. Applica markets products under licensed brand names, such as Black & Decker®, its own brand names, such as Windmere®, LitterMaid® and Applica®, and other private-label brand names. Applica’s customers include mass merchandisers, specialty retailers and appliance distributors primarily in North America, Latin America and the Caribbean. The Company operates manufacturing facilities in Mexico. Additional information regarding the Company is available at www.applicainc.com.

     Certain matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These factors include uncertainties regarding our transition from manufacturers to a company that purchases all of its products from third party sources; the relocation of our Miami Lakes, Florida offices; success or failure of our growth strategy; increases in cost and availability of raw materials and components; complications resulting from our implementation of the new ERP system; our dependence on purchases from large customers; our ability to renew the Black & Decker® trademark license agreement; the strength of the U.S. retail market; currency fluctuations in our international operations; the potential for product recalls and product liability claims against us; the bankruptcy or loss of a major retail customer, distributor or supplier; the risks of our international operations; changes in trade relations with China; our dependence on the timely development, introduction and customer acceptance of products; competitive products and pricing; dependence on foreign suppliers and supply and manufacturing constraints; cancellation or reduction of orders; and other risks and uncertainties detailed from time to time in the Company’s Securities and Exchange Commission filings, including the Annual Report on Form 10-K for the year ended December 31, 2003. Readers are cautioned not to place undue reliance on forward-looking statements. Applica undertakes no obligation to publicly revise any forward-looking statements to reflect events or circumstances that arise after the date hereof.

Applica Incorporated and Subsidiaries

CONSOLIDATED BALANCE SHEETS

		June 30, 2004				December 31,
		(Unaudited)				2003
		(In thousands)
Assets
Current Assets:
Cash and cash equivalents		$	4,993			$	12,735
Accounts and other receivables, less allowances of $11,587 in 2004 and $12,543 in 2003			115,144				131,021
Notes receivable – officers			1,533				1,615
Inventories			154,350				106,326
Prepaid expenses and other			12,266				13,593
Refundable income taxes			3,335				4,823
Future income tax benefits			1,820				11,616
Total current assets			293,441				281,729
Investment in Joint Venture			4,200				5,389
Property, Plant and Equipment - at cost, less accumulated depreciation of $109,275 in 2004 and $103,894 in 2003			71,349				70,389
Future Income Tax Benefits, Non-Current			5,312				49,695
Goodwill			—				62,812
Other Intangibles, Net			5,388				6,146
Other Assets			2,185				2,676
Total Assets		$	381,875			$	478,836
Liabilities and Shareholders’ Equity
Current Liabilities:
Accounts payable		$	69,604			$	39,273
Accrued expenses			53,753				61,362
Notes and acceptances payable			9,025				—
Current maturities of long-term debt			158				151
Current taxes payable			2,578				2,172
Deferred rent			468				301
Total current liabilities			135,586				103,259
Other Long-Term Liabilities			827				1,327
Long-Term Debt, Less Current Maturities			134,182				136,637
Shareholders’ Equity:
Common stock – authorized:75,000 shares of $.10 par value; issued and outstanding: 24,068 shares in 2004 and 23,687 shares in 2003			2,407				2,369
Paid-in capital			158,750				156,604
(Accumulated deficit) retained earnings			(41,823	)			86,474
Note receivable – officer			(1,496	)			(1,496	)
Accumulated other comprehensive earnings (loss)			(6,558	)			(6,338	)
Total shareholders’ equity			111,280				237,613
Total Liabilities and Shareholders’ Equity		$	381,875			$	478,836

Applica Incorporated and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

		Three Months Ended June 30,
		2004												2003
		(In thousands, except per share data)
Net sales		$	158,993								100.0	%		$	136,847								100.0	%
Cost of goods sold			110,505								69.5				98,742								72.2
Gross profit			48,488								30.5				38,105								27.8
Selling, general and administrative expenses:
Operating expenses			50,339								31.7				40,544								29.6
Impairment of goodwill			62,812								39.5				—								—
Operating loss			(64,663	)							(40.7	)			(2,439	)							(1.8	)
Other expense (income):
Interest expense			2,243								1.4				3,947								2.9
Interest and other income			(642	)							(0.4	)			(244	)							(0.2	)
			1,601								1.0				3,703								2.7
Loss before equity in net earnings of joint venture and income taxes			(66,264	)							(41.7	)			(6,142	)							(4.5	)
Equity in net earnings of joint venture			—								—				1,500								1.1
Loss before income taxes			(66,264	)							(41.7	)			(4,642	)							(3.4	)
Income tax provision (benefit)			57,554								36.2				(1,857	)							(1.4	)
Net loss		$	(123,818	)							(77.9	)%		$	(2,785	)							(2.0	)%
Earnings (loss) per common share:
Loss per common share – basic and diluted		$	(5.16	)										$	(0.12	)

Applica Incorporated and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

		Six Months Ended June 30,
		2004												2003
						(In thousands, except per share data)
Net sales		$	291,486								100.0	%		$	258,086								100.0	%
Cost of goods sold			205,527								70.5				182,959								70.9
Gross profit			85,959								29.5				75,127								29.1
Selling, general and administrative expenses:
Operating expenses			93,883								32.2				78,881								30.6
Repositioning charge			(563	)							(0.2	)			—								—
Impairment of goodwill			62,812								21.5				—								—
Operating loss			(70,173	)							(24.1	)			(3,754	)							(1.5	)
Other expense (income):
Interest expense			4,358								1.5				7,834								3.0
Interest and other income			(989	)							(0.3	)			(648	)							(0.3	)
Loss on early extinguishment of debt			187								0.1				—								—
			3,556								1.2				7,186								2.8
Loss before equity in net earnings of joint venture and income taxes			(73,729	)							(25.3	)			(10,940	)							(4.2	)
Equity in net earnings of joint venture			—								—				39,000								15.1
(Loss) earnings before income taxes			(73,729	)							(25.3	)			28,060								10.9
Income tax provision			54,568								18.7				11,224								4.3
Net (loss) earnings		$	(128,297	)							(44.0	)%		$	16,836								6.5	%
Earnings (loss) per common share:
(Loss) earnings per common share — basic		$	(5.38	)										$	0.72
(Loss) earnings per common share — diluted		$	(5.38	)										$	0.71