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Inter Parfums Posts a Record Quarter

Posted: May 10, 2012

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Russell Greenberg, Inter Parfums executive vice president and CFO, pointed out several items pertinent to the first quarter. “Now that more than a year has passed since taking over prestige product distribution in the U.S. by Interparfums Luxury Brands, Inc., gross margins for reporting periods in 2012 should be more comparable,” he said. “In the current first quarter, gains in gross margin from currency fluctuations were offset by changes in product mix. While we significantly increased our overall advertising budget for all brands to maintain the positive sales momentum and continue to grow our market share, SG&A expense as a percent of net sales was comparable to last year’s first quarter.”

Greenberg concluded, “We recognize that our first quarter performance was well above analysts’ expectations, however, such results were in line with management’s internal expectations.  We intend to provide a guidance update when we announce a resolution regarding our Burberry license. Therefore at this point in time, we are reaffirming our current guidance, which calls for sales of approximately $625.0 million, with resulting net income attributable to Inter Parfums, Inc. of approximately $35.7 million or $1.16 per diluted share.”

Learn more details of this financial report from Inter Parfums here.