NEW YORK–(Business Wire)–
Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that net sales for the
second quarter of 2010 hit a new record reaching approximately $107.8 million, a
21.6% increase from $88.6 million in the second quarter of 2009. At comparable
foreign currency exchange rates, net sales for the second quarter were up 28.3%.
Thus, net sales for the first half of 2010 increased 26.9% to $227.1 million
from $179.0 million in the same period last year. At comparable foreign currency
exchange rates, net sales for the first half of 2010 rose 28.6%. Inter Parfums
plans to issue final results for the second quarter of 2010 on or about August
9, 2010 and conduct a conference call on the following day.
Three months ended Six Months Ended
June 30,
June 30,
2010 2009 % Change 2010 2009 % Change
($ in millions)
European-based product sales $ 91.9 $ 79.4 15.8 % $ 200.2 $ 161.4 24.1 %
United States-based product sales 15.9 9.2 71.5 % 26.9 17.6 52.9 %
$ 107.8 $ 88.6 21.6 % $ 227.1 $ 179.0 26.9 %
Discussing European-based operations, Jean Madar, Chairman & CEO of Inter
Parfums noted, “The strong performance achieved in the first quarter has
continued through the first half. Burberry fragrance sales did exceptionally
well with year-to-date growth of 26% in local currency due to global rollout of
Burberry Sport fragrances, as well as the popularity of established Burberry
scents including Burberry Brit and The Beat. Similarly, in local currency,
Lanvin fragrance sales are up 21%, Van Cleef & Arpels (“VCA”) increased 36%,
S.T. Dupont rose 65% and Paul Smith advanced 12% through the first half of 2010.
These sales gains are due to a combination of new fragrance launches including
VCA`s Oriens and S.T. Dupont`s two new scents Intense and Essence Pure Ice, as
well as continued sell-through of established scents. Thus far this year, we`ve
had robust sales growth in Asia, South America, the Middle East, and Eastern
Europe where, in local currency, first half sales rose 39%, 67%, 22% and 68%,
respectively, while sales in Western Europe and North America rose a more than
acceptable 12% and 14%, respectively, over the first half of 2009.”
On the subject of U.S.-based operations, Mr. Madar pointed out, “We are
delighted by the significant upturn in sales, fueled by deeper and broader
international specialty retail product distribution as well as from new product
launches. We are working on several new initiatives including products for our
recently announced license arrangement with Betsey Johnson. We hope to announce
additional licensing arrangements for our U.S.-based operations in the near
future.”
Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and
cosmetics as the exclusive worldwide licensee for Burberry, Van Cleef & Arpels,
Jimmy Choo, Paul Smith, Montblanc and S.T. Dupont. The Company also owns Lanvin
Perfumes and Nickel, a men`s skin care company. It also produces personal care
products for specialty retailers under exclusive agreements for Gap, Banana
Republic, New York & Company, Brooks Brothers, bebe and Betsey Johnson brands.
In addition, Inter Parfums produces and supplies mass market fragrances and
fragrance related products. The Company`s products are sold in over 120
countries worldwide.
Statements in this release which are not historical in nature are
forward-looking statements. Although we believe that our plans, intentions and
expectations reflected in such forward-looking statements are reasonable, we can
give no assurance that such plans, intentions or expectations will be achieved.
In some cases you can identify forward-looking statements by forward-looking
words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “should,” “will” and “would” or similar words. You should not rely on
forward-looking statements because actual events or results may differ
materially from those indicated by these forward-looking statements as a result
of a number of important factors. These factors include, but are not limited to,
the risks and uncertainties discussed under the headings “Forward Looking
Statements” and “Risk Factors” in Inter Parfums’ annual report on Form 10-K for
the fiscal year ended December 31, 2009 and the reports Inter Parfums files from
time to time with the Securities and Exchange Commission. Inter Parfums does not
intend to and undertakes no duty to update the information contained in this
press release.
Inter Parfums, Inc.
Russell Greenberg, Exec. VP & CFO, 212-983-2640
rgreenberg@interparfumsinc.com
www.interparfumsinc.com
or
Investor Relations Counsel
The Equity Group Inc.
Linda Latman, 212-836-9609/llatman@equityny.com
Lena Cati, 212-836-9611/lcati@equityny.com
www.theequitygroup.com
Copyright Business Wire 2010