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Inter Parfums Reports Impressive Q3 2011
Posted: November 10, 2011
Inter Parfums, Inc. reported results for the third quarter ended Sept. 30, 2011. Net sales increased 42.1% to $171.7 million from $120.9 million; at comparable foreign currency exchange rates, net sales rose 36%. European-based operations generated sales of $154.7 million, up 41.7% from $109.2 million, and sales by U.S.-based operations were $17.0 million, up 45.9% from $11.7 million.
Through the first nine months of 2011, net sales were $426.1 million or 22.4% ahead of $348.0 million in the same period of 2010. At comparable foreign currency exchange rates, net sales rose approximately 18%. Net income attributable to Inter Parfums, Inc. increased 38.5% to $28.2 million or $0.92 per basic and diluted share from $20.4 million or $0.67 per basic and diluted share.
Jean Madar, chairman and CEO of Inter Parfums, noted, “Spurred by the global launch of Burberry Body, Burberry fragrance sales were up 29% in local currency for the quarter. Our European-based operations also benefited from the continued strong momentum of the Jimmy Choo and Montblanc fragrance launches and the commencement in January 2011 of European-based product distribution in the U.S. by Interparfums Luxury Brands, a subsidiary of Inter Parfums, S.A. With respect to U.S.-based operations, the comparable quarter sales increase was driven by a strong performance in international distribution of our specialty retail products. Of special note, Banana Republic, Gap and Bebe product lines are performing especially well in overseas markets. Also during the third quarter, we launched Too Too by Betsey Johnson and Bebe Gold.”