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Inter Parfums, Inc. reported net sales increased 12.3% to $121.1 million for the second quarter ended June 30, 2011, up from $107.8 million. Sales by U.S.-based operations were $14.6 million, down 8.2% from $15.9 million. Through the first half of 2011, net sales were $254.4 million or 12.0% ahead of $227.1 million in the first half of 2010.
“Although second quarter net sales by European-based operations were 16% ahead of last year, they fell short of expectations," said Russell Greenberg, executive vice president and CFO, Inter Parfums. "The comparable quarter increase in sales by European-based operations was, in great part, due to the commencement of prestige product distribution in the U.S. by our subsidiary, Interparfums Luxury Brands.”
The full report is available from Inter Parfums.