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Inter Parfums European opts achieves 16% rise in Q2
13 Aug '07
3 min read
Inter Parfums Inc reported record results for the second quarter and six months ended June 30, 2007.
Second Quarter 2007 Compared to Second Quarter 2006:
• Net sales increased 18% to $82.8 million, from $70.3 million; at comparable foreign currency exchange rates, net sales increased 13% for the period;
• European-based operations achieved sales of $70.5 million, a 16% increase as compared to $60.8 million in the same period last year;
• Sales by U.S.-based operations were $12.3 million, a 29% improvement compared to $9.5 million in the same period one year earlier;
• Gross margin was 58% as compared to 56% with the increase attributable to the operations of newly established majority-owned distribution subsidiaries;
• S, G & A expense as a percentage of sales was 50% as compared to 47%;
• Net income increased 17% to $3.7 million, from $3.2 million; and,
• Diluted earnings per share were $0.18, up nearly 13% from $0.16 per diluted share.
Net sales for the six months ended June 30, 2007 increased 19% to $167.9 million from $141.2 million in the first half of 2006; in constant dollars, net sales were up 14% for the period. Net income for the first half of 2007 increased 25% to $9.5 million or $0.46 per diluted share compared to $7.6 million or $0.37 per diluted share in the same period one year earlier.
Jean Madar, Chairman of the Board and Chief Executive Officer, noted, “As we reported a few weeks ago, second quarter sales growth by U.S. operations was due primarily to initial shipments of more than 70 new bath and body products for women to 160 Gap Body stores and continued product shipments for Banana Republic stores.”
Second Quarter 2007 Compared to Second Quarter 2006:
• Net sales increased 18% to $82.8 million, from $70.3 million; at comparable foreign currency exchange rates, net sales increased 13% for the period;
• European-based operations achieved sales of $70.5 million, a 16% increase as compared to $60.8 million in the same period last year;
• Sales by U.S.-based operations were $12.3 million, a 29% improvement compared to $9.5 million in the same period one year earlier;
• Gross margin was 58% as compared to 56% with the increase attributable to the operations of newly established majority-owned distribution subsidiaries;
• S, G & A expense as a percentage of sales was 50% as compared to 47%;
• Net income increased 17% to $3.7 million, from $3.2 million; and,
• Diluted earnings per share were $0.18, up nearly 13% from $0.16 per diluted share.
Net sales for the six months ended June 30, 2007 increased 19% to $167.9 million from $141.2 million in the first half of 2006; in constant dollars, net sales were up 14% for the period. Net income for the first half of 2007 increased 25% to $9.5 million or $0.46 per diluted share compared to $7.6 million or $0.37 per diluted share in the same period one year earlier.
Jean Madar, Chairman of the Board and Chief Executive Officer, noted, “As we reported a few weeks ago, second quarter sales growth by U.S. operations was due primarily to initial shipments of more than 70 new bath and body products for women to 160 Gap Body stores and continued product shipments for Banana Republic stores.”
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