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Inter Parfums Inc. Releases Third Quarter Results

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On November 8, Inter Parfums, Inc. reported its earnings for third quarter 2016 which ended on September 30. When compared to third quarter 2015 there was an increase in results acoss almost the entire board.

Third Quarter 2016 vs. Third Quarter 2015

  • Net sales were $156.6 million, up 13.4% from $138.9 million
  • Sales by European based operations rose 12.0% to $123.4 million from $110.1 million
  • U.S. based operations caused net sales to raise to $34.2 million, up 19% from $28.8 million
  • Gross margin was 60.2% of net sales compared to 61.8%
  • S, G&A expenses as a percentage of net sales were 39.7% compared to 41.9%
  • Operating income rose 16.9% to $32.3 million from $27.6 million
  • Net income attributable to Inter Parfums, Inc. rose 14.2% to $16.2 million compared to $14.2 million
  • Net income attributable to Inter Parfums, Inc. per diluted share rose 13.0% to $0.52 from $0.46

Russell Greenber, executive vice president and CFO of Inter Parfums, Inc. stated, “Based upon our expectations for the remainder of the year, we expect that our 2016 net sales will be at the high end of our guidance range of $500 million to $510 million.”