Prestige product sales perk up Inter Parfums Q2 gross margin
12 Aug '05
5 min read
Russell Greenberg, Executive Vice President & CFO noted, "Company have adjusted 2005 sales and earnings guidance to factor in the aforementioned Gap-related expenses, plus the weakness in the dollar relative to other currencies, primarily to the euro. As they reported in May, their $280 million 2005 sales projection assumed the dollar remained at current levels, which has not been the case. Purely on the basis of currency translation, assuming the dollar remains at current levels, our 2005 sales are now expected to come in at approximately $274 million, which represents a nearly 17 percent increase over 2004 sales. Company revised net income guidance is $14.6 million or $0.71 per diluted share."
Quarterly Dividend
The Company's regular quarterly cash dividend of $0.04 per share will be payable on October 14, 2005 to shareholders of record on September 30, 2005.
Conference Call
The management of Inter Parfums will host a conference call at 11:00 am EDT on Wednesday, August 10, 2005, to discuss second quarter results and other recent developments.
Mass market fragrances producer Inter Parfums develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Burberry, S.T. Dupont, Paul Smith, Christian Lacroix, Celine, Diane von Furstenberg and Lanvin. The Company also has controlling interest in Nickel S.A., a men's skincare company. In addition, Inter Parfums is a leading producer and supplier of mass-market fragrances, cosmetics and personal care products. The Company's products are sold in over 120 countries worldwide.
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