Inter Parfums Inc announced that net sales for the current third quarter rose to a record $102.3 million, up 14% from $89.7 million in the same period last year. At comparable foreign currency exchange rates, third quarter net sales were 9% ahead of last year's third quarter.
Thus for the first nine months of 2007, net sales were $270.2 million, up 17% from $230.9 million; at comparable foreign currency exchange rates, net sales for the first nine months of 2007 were 12% ahead of last year. Inter Parfums plans to issue financial results for the third quarter ended September 30, 2007 on Wednesday, November 7, 2007, after the close of the stock market.
Jean Madar, Chairman of the Board and Chief Executive Officer, noted, “Third quarter sales by our European based operations were $88.2 million, up nearly 16% from $76.1 million in last year's third quarter.
The top line growth was attributable to the launches of the Roxy and Paul Smith Rose fragrances and the increasing contribution of Van Cleef & Arpels fragrances. Additionally, as previously reported, since mid-first quarter, we've begun distributing product through our four majority-owned European distribution subsidiaries.”
Mr. Madar continued, “The 4% increase in U.S. sales to $14.2 million was achieved despite the high threshold set in the same period of 2006. In last year's third quarter, U.S. sales were $13.6 million, or 64% ahead of the third quarter of 2005, primarily due to firsttime shipments of the Discover Collection of five fragrances and a full line of bath and body to all Banana Republic's North American stores.
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