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Inter Parfums, Inc. today announced that net sales for the fourth quarter of 2008 were approximately $100.6 million, a 16% decline from $119.4 million compared to the fourth quarter of 2007. Net sales of $446.3 million in 2008 were up 15% from $389.6 million in 2007. The company plans to issue final results for the 2008 fourth quarter and year March 16, 2009, with expectations for a net income of approximately $25 million.
“For 2008, the three largest brands within our European-based operations all showed strong growth in local currency—with Burberry up 10%, Lanvin up 17%, and Van Cleef & Arpels up 77%," said Jean Madar, chairman of the board, Inter Parfums. "Although consumer confidence and spending are under pressure in light of the global economic downturn and tight credit markets, we remain cautiously optimistic about the future."
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