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Inter Parfums reports record Q4 sales
31 Jan '08
3 min read
Inter Parfums Inc announced that net sales for the final quarter of 2007 were approximately $119.2 million, up 32% from $90.2 million, in the fourth quarter of 2006. At comparable foreign currency exchange rates, net sales for the fourth quarter were up 24%.
Thus, 2007 net sales of $389.4 were up 21% from $321.1 million in 2006. At comparable foreign currency exchange rates, net sales for 2007 were up 15%. We expect to issue our final results for the 2007 fourth quarter and year on or about March 12, 2008.
With approximately 38% of net sales occurring in the final quarter of the year, seasonality, as we had earlier forecast, has played a larger role in our quarterly results. This is because shipments by our majority-owned distribution subsidiaries to their customers and delivery schedules for our Company's U.S. specialty retail customers are more heavily weighted toward the second half, with greater concentration in the fourth quarter. Our sales growth in the fourth quarter came in better than expected and further benefited from favorable foreign currency exchange rates.
As a result of better than expected net sales for the fourth quarter, we are raising our 2007 net income and earnings per diluted share guidance to a range between $21.9 million and $22.3 million or $1.06 to $1.08 per diluted share, respectively.
We also affirm our 2008 guidance with net sales of approximately $437 million and net income of approximately $24.1 million or $1.16 per diluted share. This guidance assumes the dollar remains at current levels.
Thus, 2007 net sales of $389.4 were up 21% from $321.1 million in 2006. At comparable foreign currency exchange rates, net sales for 2007 were up 15%. We expect to issue our final results for the 2007 fourth quarter and year on or about March 12, 2008.
With approximately 38% of net sales occurring in the final quarter of the year, seasonality, as we had earlier forecast, has played a larger role in our quarterly results. This is because shipments by our majority-owned distribution subsidiaries to their customers and delivery schedules for our Company's U.S. specialty retail customers are more heavily weighted toward the second half, with greater concentration in the fourth quarter. Our sales growth in the fourth quarter came in better than expected and further benefited from favorable foreign currency exchange rates.
As a result of better than expected net sales for the fourth quarter, we are raising our 2007 net income and earnings per diluted share guidance to a range between $21.9 million and $22.3 million or $1.06 to $1.08 per diluted share, respectively.
We also affirm our 2008 guidance with net sales of approximately $437 million and net income of approximately $24.1 million or $1.16 per diluted share. This guidance assumes the dollar remains at current levels.
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