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Inter Parfums Post 4Q Results
Posted: January 29, 2008Inter Parfums, Inc. announced that net sales for the final quarter of 2007 were approximately $119.2 million, up 32% from $90.2 million in the fourth quarter of 2006, and 2007 net sales of $389.4 were up 21% from $321.1 million in 2006. As a result of better than expected net sales for the fourth quarter, the company is raising its 2007 net income and earnings per diluted share guidance to a range between $21.9 million and $22.3 million or $1.06 to $1.08 per diluted share, respectively.
In addition, the company announced that between late December 2007 and early January 2008, it purchased 350,000 shares of its majority-owned consolidated subsidiary, Inter Parfums S.A, for an average purchase price of €30 (Euros) per share. The shares purchased represent approximately 2.9% of the approximately 12 million outstanding shares.