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Inter Parfums Posts Q3
Posted: October 30, 2008Inter Parfums, Inc. announced that net sales for the current third quarter rose to a record $123.5 million, up 21% from $102.3 million in the same period last year. At comparable foreign currency exchange rates, third quarter net sales were 16% ahead of last year’s third quarter. Thus for the first nine months of 2008, net sales were $345.8 million, up 28% from $270.2 million; at comparable foreign currency exchange rates, net sales for the first nine months of 2008 were 22% ahead of last year.
“Third quarter sales by our European based operations were $108.8 million, up 23% from $88.1 million in last year’s third quarter," said Jean Madar, chairman of the board and CEO, Inter Parfums. "Two major new product launches, Van Cleef & Arpels Feerie and Jeanne Lanvin, were responsible for much of the top line growth. Additionally, Burberry fragrance sales have continued to increase with this year’s growth driven by the successful worldwide launch of the new women's line Burberry The Beat.”
The company reaffirmed its full year 2008 guidance, projecting net sales, net income and diluted earnings per share of approximately $460 million, $26.8 million and $0.87 per diluted share, respectively. This guidance assumes the dollar remains at current levels.