Inter Parfums Inc announced that net sales for the current second quarter rose to a record $82.8 million, up 18% from $70.3 million in the same period last year. At comparable foreign currency exchange rates, second quarter net sales were 13% ahead of last year's second quarter.
Thus for the first half of 2007, net sales were $167.9 million, up 19% from $141.2 million; at comparable foreign currency exchange rates, net sales for the first half of 2007 were 14% ahead of last year. Inter Parfums will issue financial results for the second quarter ended June 30, 2007 on Wednesday, August 8, 2007. The results will be released after the close of the stock market.
Jean Madar, Chairman of the Board and Chief Executive Officer, noted, “Second quarter sales by our European based operations were $70.5 million, up 16% from $60.7 million in last year's second quarter. The increase was due to several factors. Since mid-first quarter, we've begun recording sales by our four majority-owned European distribution subsidiaries."
"Additionally, the continued strength of Burberry fragrance sales was further enhanced by the introduction of Burberry Summer fragrance. We are also very gratified by Lanvin brand sales, in particular, Eclat d'Arpege which continues to outperform expectations. The inclusion of Van Cleef & Arpels since the start of the year also contributed to our top line growth. Launches scheduled for the second half include: S. T. Dupont Blanc, Roxy, our first fragrance under this brand and Paul Smith Rose.”
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