Inter Parfums Posts 3Q Sales

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Oct 28, 2009 (Close-Up Media via COMTEX) -- IPAR | Quote | Chart | News | PowerRating -- Inter Parfums, Inc. has announced that net sales for the current third quarter were $117.5 million, 5 percent below last year's third quarter net sales of $123.5 million.

In a release on October 22, the Company noted that at comparable foreign currency exchange rates, third quarter net sales were 3 percent below last year's third quarter. Thus for the first nine months of 2009, net sales were $296.6 million, down 14 percent from $345.8 million; at comparable foreign currency exchange rates, net sales for the first nine months of 2009 were 11 percent below last year. Inter Parfums plans to issue financial results for the third quarter ended September 30, on Monday, November 9, after the close of the stock market.

Jean Madar, Chairman of the Board and Chief Executive Officer, noted, "Third quarter sales by our European based operations were $104.0 million, down 4.4 percent from $108.8 million in last year's third quarter, which featured the launches of Jeanne Lanvin, Van Cleef & Arpels Feerie, S.T. Dupont Passenger, and the continued rollout of Burberry The Beat for women. In comparison, the 2009 third quarter new product launches were far more modest and included limited distribution of Van Cleef & Arpels Collection Extraordinaire and the launch of Paul Smith Man, for which the rollout is still underway. Despite the difficult launch schedule comparison and the weak economic environment, strong growth of Burberry fragrances (up 19 percent in local currency) on gains by all of the brands' historic lines contributed to our third quarter 2009 sales results."

He continued, "Third quarter sales by U.S. based operations declined 8 percent to $13.5 million from $14.7 million for the same period last year. As anticipated, the percentage sales decline in the third quarter was considerably less than through the first half of the year. Contributing to the turnaround in the third quarter was the launch of bebe fragrance in bebe stores and at Dillard's as well the initial launch Republic of Women and Republic of Men for Banana Republic."

Management believes that its current full year 2009 guidance is conservative based on the sales achieved during the third quarter of 2009 and will review its guidance and update as necessary when third quarter financial results are announced on November 9. Current guidance calls for net sales of $390 million, and net income attributable to Inter Parfums, Inc. common shareholders of approximately $21.0 million or $0.70 per diluted share, assuming the dollar remains at current levels.

Inter Parfums, Inc. develops, manufactures and distributes perfumes and cosmetics as the exclusive worldwide licensee for Burberry, Van Cleef & Arpels, Jimmy Choo, Paul Smith, and S.T. Dupont.

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