Inter Parfums sees strong sales in final quarter of 2007

11 Mar '08

3 min read

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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