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Inter Parfums sees strong sales in final quarter of 2007
11
Mar '08
Inter Parfums Inc announced record results for the fourth quarter and year ended December 31, 2007.

Fourth Quarter 2007 Compared to Fourth Quarter 2006:
• Net sales rose 32% to $119.4 million from $90.2 million; at comparable foreign currency exchange rates, net sales were up 24%;
• Sales by European based operations were $96.6 million, up 37% compared to $70.4 million;
• U.S. based operations generated $22.8 million in sales, up 15% from $19.8 million;
• Gross margin rose to 58% from 54% due to the operations of our majority-owned distribution subsidiaries and higher margins generated by our U.S. based specialty retail products;
• S, G & A expense as a percentage of sales was 44% as compared to 41%;
• Operating margin was 14%, up from 12%;
• Net income rose 57% to $8.6 million from $5.5 million; and,
• Diluted earnings per share were $0.41, up 52% compared to $0.27

2007 Full Year Results & Review and Outlook for 2008:
For the year as a whole, Inter Parfums reported record net sales of $389.6 million, up 21% from $321.1 million in 2006. At comparable foreign currency exchange rates, net sales for 2007 were up 15%. European based sales rose to $330.8 million, up 22% year over year and represented 85% of consolidated sales.

The 15% increase in U.S. based sales, which approximated $58.8 million, was due to Inter Parfums' specialty retail business with Gap, Banana Republic and New York & Company. Net income increased 34% to $23.8 million from $17.7 million in 2006, and diluted earnings per share were up 33% to $1.14, compared to $0.86 in 2006.


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