Inter Parfums Returns to Profit, Hikes ’15 Guidance

Inter Parfums Inc. converted an 18.6 percent increase in sales in the fourth quarter into a return to profitability and provided guidance for higher profits for 2015 than originally projected. In the three months ended Dec. 31, the New York-based fragrance firm recorded net income of $3.3 million, or 11 cents a diluted share, versus a net loss of $4.2 million, or 13 cents, in the year-ago quarter. Analysts on average expected EPS of 9 cents in the most recent period. Revenues rose to $125.1 million from $105.5 million, with sales up 25 percent at constant currency. Included in the revenue increase were a 19.3 percent sales gain, to $93.6 million, in European-based operations, and a 16.4 percent rise in U.S. based operations, to $27.1 million. Gross margin expanded to 59.4 percent in the quarter from 57.3 percent a year ago. Jean Madar, chairman and chief executive officer, attributed the revenue improvement to “a steady stream of product launches, the contribution of our new brands and the staying power of our best-sellers. In fact, in 2014, ongoing brand sales were ahead in all regions.” He said Inter Parfums’ three largest markets – Western Europe, North America and Asia – had sales growth of 14.4, 13.6

Follow WWD on Twitter or become a fan on Facebook.

Read More...