press releases
INTER PARFUMS, INC. REPORTS 2019 FIRST QUARTER RESULTS
New York, New York, May 6, 2019: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the first quarter ended March 31, 2019. The average dollar/euro ratio for the current first quarter was 1.14 compared to 1.23 in the first quarter of 2018.
First Quarter 2019 Compared to First Quarter 2018:
ˇ Net sales were $178.2 million, up 3.8% from $171.8 million; at comparable foreign currency exchange rates, net sales increased 7.4%;
ˇ Sales by European based operations declined 3.8% to $143.7 million from $149.5 million;
ˇ Sales by U.S. based operations rose 54.8% to $34.5 million from $22.3 million;
ˇ Gross margin was 61.6% of net sales compared to 61.5% of net sales;
ˇ S,G&A expense as a percentage of net sales was 42.9% compared to 43.8%;
ˇ Operating income increased 9.5% to $33.3 million from $30.4 million;
ˇ Operating margin was 18.7% compared to 17.7%;
ˇ The effective income tax rate was 27.4% compared to 30.5%;
ˇ Net income attributable to Inter Parfums, Inc. increased to $18.9 million, up 18.8% from $15.9; and,
ˇ Net income attributable to Inter Parfums, Inc. per diluted share rose 17.6% to $0.60 from $0.51.
New York, New York – April 26, 2019: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the first quarter ended March 31, 2019 on Monday, May 6, 2019 after the close of the stock market
New York, New York, April 24, 2019: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported that for the three months ended March 31, 2019, net sales increased 3.8% to $178.2 million from $171.8 million in the first quarter of 2018. At comparable foreign currency exchange rates, first quarter sales increased 7.4%. The average dollar/euro exchange rate for the current first quarter was 1.14, compared to 1.23 in the first quarter of 2018. Inter Parfums plans to issue results for the 2019 first quarter on or about May 6, 2019
New York, New York, March 4, 2019: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the fourth quarter and year ended December 31, 2018.
Fourth Quarter 2018 Compared to Fourth Quarter 2017:
Net sales were $177.2 million, up 18.5% from $149.5 million; at comparable foreign currency exchange rates, net sales increased 21.2%;
Net sales by European based operations rose 16.8% to $134.8 million from $115.4 million;
Net sales by U.S. based operations were $42.4 million, up 24.4% compared to $34.1 million;
Gross margin was 66.1% for both periods;
S,G&A expenses as a percentage of net sales were 60.1% compared to 61.4%;
Operating income was $10.6 million as compared to $4.8 million;
Net income attributable to Inter Parfums, Inc. increased 82.9% to $8.0 million compared to $4.4 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 85.7% to $0.26 from $0.14.
New York, New York – February 21, 2019: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the fourth quarter and year ended December 31, 2018 on Monday, March 4, 2019 before the financial markets open.
INTER PARFUMS, INC. REPORTS BETTER THAN EXPECTED 2018 FOURTH QUARTER AND FULL YEAR SALES
New York, New York, January 28, 2019: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended December 31, 2018, net sales were $177.2 million, up 18.5% from the final quarter of 2017.
INTER PARFUMS, INC. PROVIDES INITIAL 2019 GUIDANCE WITH RECORD SALES AND EARNINGS
New York, New York, November 12, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced initial 2019 guidance, which calls for net sales of approximately $705 million, resulting in net income attributable to Inter Parfums, Inc. of approximately $1.81 per diluted share. Guidance assumes an average dollar/euro exchange rate of 1.14 for 2019, down 5% as compared to the exchange rate of 1.20 through September 30, 2018.
INTER PARFUMS, INC. REPORTS 2018 THIRD QUARTER RESULTS INCREASES DIVIDEND 31%
New York, New York, November 5, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the third quarter ended September 30, 2018.
Third Quarter 2018 Compared to Third Quarter 2017:
Net sales were $177.2 million, up 4.5% from $169.5 million; at comparable foreign currency exchange rates, net sales increased 5.4%;
Net sales by European based operations rose 2.4% to $137.8 million from $134.6 million;
Net sales by U.S. based operations were $39.4 million, up 12.9% from $34.9 million;
Gross margin was 61.6% compared to 61.0%;
S,G&A expenses as a percentage of net sales were 41.9% compared to 41.5%;
Operating income increased 5.5% to $35.0 million from $33.2 million;
Operating margin rose to 19.7% from 19.6%;
The effective income tax rate was 28.6% compared to 32.9%;
Net income attributable to Inter Parfums, Inc. increased 10.9% to $18.9 million compared to $17.1 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 9.1% to $0.60 from $0.55.
New York, New York – October 26, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the third quarter ended September 30, 2018 on Monday, November 5, 2018 after the close of the stock market.
New York, New York, October 24, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended September 30, 2018, net sales increased 4.5% to $177.2 million as compared to $169.5 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated third quarter net sales increased 5.4%. Inter Parfums plans to issue results for the 2018 third quarter after the close of the market on November 5, 2018.
New York, New York, September 18, 2018: Interstellar Brands LLC, a subsidiary of Inter Parfums, Inc. (NASDAQ GS: IPAR), today announced the development of a new fragrance line in collaboration with supermodel Lily Aldridge. This deal marks the beginning of a strategic partnership between Interstellar and IMG Models—which manages Aldridge—to develop direct-to-consumer e-commerce fragrance and beauty businesses for IMG Models’ diverse and dynamic client base.
New York, New York, August 7, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter ended June 30, 2018. Of note, the average dollar/euro ratio for the current second quarter is 1.19, up 8% from 1.10 in the second quarter of 2017.
Second Quarter 2018 Compared to Second Quarter 2017:
Net sales were $149.4 million, up 15.7% from $129.1 million, at comparable foreign currency exchange rates, net sales increased 12.3%;
Net sales by European based operations rose 8.3% to $115.6 million from $106.7 million;
Net sales by U.S. based operations increased 50.8% to $33.8 million, compared to $22.4 million;
Gross margin was 64.0% compared to 65.0%;
S,G&A expenses as a percentage of net sales were 51.5% compared to 53.8%
Operating income increased 29.7% to $18.8 million from $14.5 million;
Operating margin rose to 12.6% compared to 11.2%;
The effective income tax rate was 30.2% compared to 33.4%;
Net income attributable to Inter Parfums, Inc. increased 61.6% to $10.9 million from $6.7 million and;
Net income attributable to Inter Parfums, Inc. per diluted share rose 59.1% to $0.35 from $0.22.
New York, New York – July 31, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the second quarter ended June 30, 2018 on Tuesday, August 7, 2018 after the close of the stock market.
INTER PARFUMS, INC. REPORTS 15.7% INCREASE IN 2018 SECOND QUARTER NET SALES Affirms 2018 Guidance
New York, New York, July 24, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended June 30, 2018, net sales increased 15.7% to $149.4 million as compared to $129.1 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated second quarter net sales increased 12.3%. Of note, the dollar/euro ratio for the current second quarter is 1.19, up 8% from 1.10 in the second quarter of 2017. Inter Parfums plans to issue results for the 2018 second quarter on or about August 7, 2018.
New York, New York, May 8, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the first quarter ended March 31, 2018.
First Quarter 2018 Compared to First Quarter 2017:
Net sales were $171.8 million, up 20.1% from $143.1 million; at comparable foreign currency exchange rates, net sales increased 13.1%;
Sales by European based operations rose 24.9% to $149.5 million from $119.7 million;
Sales by U.S. based operations declined 4.6% to $22.3 million from $23.4 million;
Gross margin was 61.5% of net sales compared to 63.0%;
S,G&A expense as a percentage of net sales was 43.8% compared to 44.7%;
Operating income increased 16.2% to $30.4 million as compared to $26.2 million;
Operating margin was 17.7% compared to 18.3%;
The effective income tax rate was 30.5% compared to 32.8 %;
Net income attributable to Inter Parfums, Inc. increased to $15.9 million, up 19.0% from $13.4 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 18.6% to $0.51 from $0.43.
New York, New York – May 1, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the first quarter ended March 31, 2018 on Tuesday, May 8, 2018 after the close of the stock market.
INTER PARFUMS, INC. REPORTS 20.1% INCREASE IN 2018 FIRST QUARTER SALES Raises 2018 Guidance
New York, New York, April 25, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported that for the three months ended March 31, 2018, net sales increased 20.1% to $171.8 million from $143.1 million in the first quarter of 2017. At comparable foreign currency exchange rates, consolidated first quarter net sales increased 13.1% as compared to the prior year period. Inter Parfums plans to issue results for the 2018 first quarter on or about May 7, 2018. Of note, the dollar/euro ratio for the current first quarter is 1.23, up more than 15% from 1.065 in the first quarter of 2017.
INTER PARFUMS, INC. AND GRAFF DIAMONDS SIGN AN EXCLUSIVE FRAGRANCE LICENSE AGREEMENT
New York, New York, April 4, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it has entered into an exclusive, worldwide license agreement with London-based Graff Diamonds for the creation, development and distribution of fragrances under the Graff brand. The eight-year agreement has three 3-year automatic renewal options, potentially extending the license until December 31, 2035.
INTER PARFUMS, INC. ANNOUNCES APPOINTMENT OF GILBERT HARRISON TO ITS BOARD OF DIRECTORS
New York, New York, April 3, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) (the “Company” or “Inter Parfums”) today announced the appointment of Gilbert Harrison, Founder and Chairman Emeritus of investment banking firm, Financo LLC, to its Board of Directors, effective today. With the addition of Mr. Harrison, the size of Inter Parfums’ Board increases to nine members, six of whom are independent. His initial term will expire, and he will stand for re-election at the Company’s next Annual Meeting of Stockholders in September 2018.
New York, New York, March 13, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the fourth quarter ended December 31, 2017.
Fourth Quarter 2017 Compared to Fourth Quarter 2016:
Net sales were $149.5 million, up 10.9% from $134.8 million; at comparable foreign currency exchange rates, net sales increased 6%;
Net sales by European based operations rose 15.5% to $115.4 million from $99.9 million;
Net sales by U.S. based operations were $34.1 million, down 2.2% compared to $34.9 million;
Gross margin was 66.1% compared to 63.7%;
S,G&A expenses as a percentage of net sales were 61.4% compared to 59.0%;
Operating income was $4.8 million as compared to $5.4 million;
Net income attributable to Inter Parfums, Inc. increased 12.0% to $4.4 million compared $3.9 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 11.1% to $0.14 from $0.13.
New York, New York – March 5, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the fourth quarter ended December 31, 2017 on Tuesday, March 13, 2018 after the close of the stock market.
INTER PARFUMS, INC. AND GUESS?, INC. SIGN AN EXCLUSIVE FRAGRANCE
LICENSE AGREEMENT
New York, New York, February 26, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it has entered into an exclusive, 15-year worldwide license agreement with GUESS?, Inc. (NYSE: GES), for the creation, development and distribution of fragrances under the GUESS brand. This license will take effect on April 1, 2018.
INTER PARFUMS, INC. REPORTS BETTER THAN EXPECTED 2017 FOURTH QUARTER AND FULL YEAR SALES
New York, New York, January 29, 2018: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended December 31, 2017, net sales were $149.5 million, up 11.0% from $134.8 million for the final quarter of 2016. At comparable foreign currency exchange rates, consolidated fourth quarter net sales increased 6.0%. For the full year, net sales rose 13.5% to $591.3 million from $521.1 million in 2016. At comparable foreign currency exchange rates, consolidated 2017 net sales increased 12.2%. Inter Parfums plans to issue results for the 2017 fourth quarter and full year on or about March 13, 2018.
THE JIMMY CHOO – INTER PARFUMS PARTNERSHIP EXTENDED TO 2031
New York, New York, December 4, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that Jimmy Choo and Interparfums SA, our 73% owned Paris based subsidiary, have entered into an amended license agreement extending their partnership through December 31, 2031.
INTER PARFUMS, INC. PROVIDES INITIAL 2018 GUIDANCE
New York, New York, November 13, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced initial 2018 guidance, which calls for net sales of approximately $620 million, resulting in net income attributable to Inter Parfums, Inc. of approximately $1.40 per diluted share. Guidance assumes the dollar remains at current levels.
New York, New York, November 8, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the third quarter ended September 30, 2017.
Third Quarter 2017 Compared to Third Quarter 2016:
Net sales were $169.5 million, up 7.6% from $157.6 million; at comparable foreign currency exchange rates, net sales increased 5.2%;
Net sales by European based operations rose 9.1% to $134.6 million from $123.4 million;
Net sales by U.S. based operations were $34.9 million, up 2% compared to $34.2 million;
Gross margin was 61.0% compared to 60.2%;
S,G&A expenses as a percentage of net sales were 41.5% compared to 39.7%;
Operating income increased 2.7% to $33.2 million from $32.3 million;
Net income attributable to Inter Parfums, Inc. increased 5.2% to $17.1 million compared $16.2 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 5.8% to $0.55 from $0.52.
New York, New York – October 27, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the third quarter ended September 30, 2017 on Wednesday, November 8, 2017 after the close of the stock market.
INTER PARFUMS, INC. REPORTS
7.6% INCREASE IN 2017 THIRD QUARTER SALES
RAISES 2017 SALES
GUIDANCE
New York, New York, October 24, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended September 30, 2017, net sales increased 7.6% to $169.5 million as compared to $157.6 million for the corresponding period of the prior year. The average euro to dollar exchange rate was 1.17 in the third quarter of 2017, as compared to 1.12 in the third quarter of 2016, reflecting a weakened U.S. dollar. At comparable foreign currency exchange rates, consolidated third quarter net sales increased 5.2%. Inter Parfums plans to issue results for the 2017 third quarter after the close of the market on November 8, 2017.
New York, New York, August 7, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter ended June 30, 2017.
Second Quarter 2017 Compared to Second Quarter 2016:
Net sales were $129.1 million, up 10.2% from $117.2 million; at comparable foreign currency exchange rates, net sales increased 11.3%;
Net sales by European based operations rose 20.5% to $106.7 million from $88.6 million;
Net sales by U.S. based operations were $22.4 million compared to $28.6 million;
Gross margin was 65.0% compared to 63.6%;
S,G&A expenses as a percentage of net sales were 53.8% compared to 53.7%;
Operating income increased 26.3% to $14.5 million from $11.5 million;
Operating margin rose to 11.2% compared to 9.8%; and
Net income attributable to Inter Parfums, Inc. increased 15.7% to $6.7 million or $0.22 per diluted share from $5.8 million or $0.19 per diluted share.
New York, New York, July 31, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that Veronique Gabai-Pinsky, President of the Vera Wang Group since the Fall of 2015, has been nominated by the Board of Directors to be added as a member of its Board. The election of directors will be voted upon by the Inter Parfums shareholders at the annual meeting on September 12, 2017. Ms. Gabai-Pinsky will fill the independent Board vacancy resulting from the coming retirement of Jean Levy immediately after the meeting, after more than 20 years of distinguished service to Inter Parfums. The Board is comprised of nine directors, five of whom are independent. Upon her election, Ms. Gabai-Pinsky will become a member of the Board’s Audit Committee, Nominating Committee and Executive Compensation and Stock Option Committee.
New York, New York – July 28, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the second quarter ended June 30, 2017 on Monday, August 7, 2017 after the close of the stock market.
INTER PARFUMS, INC.
REPORTS 10.2% INCREASE IN 2017 SECOND QUARTER NET SALES,
INCREASES 2017 GUIDANCE
New York, New York, July 26, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended June 30, 2017, net sales increased 10.2% to $129.1 million as compared to $117.2 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated second quarter net sales increased 11.3%. Inter Parfums plans to issue results for the 2017 second quarter on or about August 7, 2017.
INTER PARFUMS, INC. REPORTS 2017 FIRST QUARTER RESULTS
New York, New York, May 9, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the first quarter ended March 31, 2017.
First Quarter 2017 Compared to First Quarter 2016:
Net sales were $143.1 million, up 28.3% from $111.5 million; at comparable foreign currency exchange rates, net sales increased 30.6%;
Sales by European based operations rose 29.9% to $119.7 million from $92.1 million;
Sales by U.S. based operations increased 20.4% to $23.4 million compared to $19.4 million;
Gross margin was 63.0% of net sales compared to 63.9%;
S,G&A expense as a percentage of net sales was 44.7% compared to 48.3%
Operating income was $26.2 million, up 49.3% compared to $17.5 million;
Operating margin was 18.3% compared to 15.7%; and,
Net income attributable to Inter Parfums, Inc. was $13.4 million or $0.43 per diluted share compared to $7.3 million or $0.24 per diluted share.
New York, New York – May 1, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it will issue financial results for the first quarter ended March 31, 2017 on Tuesday, May 9, 2017 after the close of the stock market.
INTER PARFUMS, INC. REPORTS 28.3% INCREASE IN 2017 FIRST QUARTER SALES Affirms 2017 Guidance
New York, New York, April 27, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported that for the three months ended March 31, 2017, net sales increased 28.3% to $143.1 million from $111.5 million in the first quarter of 2016. At comparable foreign currency exchange rates, consolidated first quarter net sales increased 30.6% as compared to the prior year period. Inter Parfums plans to issue results for the 2017 first quarter on or about May 9, 2017.
INTER PARFUMS, INC. REPORTS 2016 FOURTH QUARTER AND FULL YEAR RESULTS Affirms 2017 Guidance
New York, New York, March 13, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the fourth quarter ended December 31, 2016.
Fourth Quarter 2016 Compared to Fourth Quarter 2015:
Net sales were $134.8 million, up 13.9% from $118.3 million; at comparable foreign currency exchange rates, net sales increased 15.3%;
Sales by European based operations rose 12.8% to $99.9 million from $88.6 million; at comparable foreign currency exchange rates, net sales increased 14.6%;
U.S. based operations generated net sales of $34.9 million, up 17.3% from $29.7 million;
Gross margin was 63.7% of net sales compared to 64.0%;
S,G&A expense as a percentage of net sales was 59.0% compared to 60.4%;
Operating income rose 26.5% to $5.4 million from $4.3 million;
Net income attributable to Inter Parfums, Inc. rose 111.2% to $3.9 million compared to $1.9 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 116.7% to $0.13 from $0.06.
New York, New York, January 30, 2017: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended December 31, 2016, net sales were $134.8 million, up 13.9% from $118.3 million for the final quarter of 2015. At comparable foreign currency exchange rates, consolidated fourth quarter net sales increased 15.3%. For the full year, net sales rose 11.2% to $521.1 million from $468.5 million in 2015. At comparable foreign currency exchange rates, consolidated 2016 net sales increased 12.1%. Inter Parfums plans to issue results for the 2016 fourth quarter and full year on or about March 13, 2017.
INTER PARFUMS, INC. PROVIDES INITIAL 2017 GUIDANCE
New York, New York, November 14, 2016: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced initial 2017 guidance, which calls for net sales in the range of $550 million to $560 million, resulting in net income attributable to Inter Parfums, Inc. in the range of $1.20 to $1.24 per diluted share. Guidance assumes the dollar remains at current levels.
New York, New York, November 8, 2016: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the third quarter ended September 30, 2016.
Third Quarter 2016 Compared to Third Quarter 2015:
Net sales were $157.6 million, up 13.4% from $138.9 million; at comparable foreign currency exchange rates, net sales increased 14.8%;
Sales by European based operations rose 12.0% to $123.4 million from $110.1 million; at comparable foreign currency exchange rates, net sales increased 13.7%;
U.S. based operations generated net sales of $34.2 million, up 19.0% from $28.8 million;
Gross margin was 60.2% of net sales compared to 61.8%;
S,G&A expense as a percentage of net sales was 39.7% compared to 41.9%;
Operating income rose 16.9% to $32.3 million from $27.6 million;
Net income attributable to Inter Parfums, Inc. rose 14.2% to $16.2 million compared to $14.2 million; and,
Net income attributable to Inter Parfums, Inc. per diluted share rose 13.0% to $0.52 from $0.46.
New York, New York, August 9, 2016: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter ended June 30, 2016.
Second Quarter 2016 Compared to Second Quarter 2015:
Net sales were $117.2 million, up 14.8% from $102.0 million; at comparable foreign currency exchange rates, net sales increased 14.2%;
Net sales by European based operations rose 14.8% to $88.6 million compared to $77.1 million and net sales by U.S. based operations increased 14.8% to $28.6 million compared to $24.9 million;
Gross margin was 63.5% of net sales compared to 59.1%;
S,G&A expenses as a percentage of net sales was 53.7% compared to 51.1%;
Operating income increased 39.0% to $11.5 million from $8.2 million;
Operating margin rose to 9.8% compared to 8.1%; and,
Net income attributable to Inter Parfums, Inc. increased 34.0% to $5.8 million or $0.19 per diluted share compared to $4.4 million or $0.14 per diluted share.
INTER PARFUMS, INC. REPORTS 2016 FIRST QUARTER RESULTS
New York, New York, May 10, 2016: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the first quarter ended March 31, 2016.
First Quarter 2016 Compared to First Quarter 2015:
Net sales were $111.5 million, up 2% from $109.2 million; at comparable foreign currency exchange rates, net sales increased 3%;
Sales by European based operations rose 5% to $92.1 million compared to $86.7 million;
Sales by U.S. based operations declined 14% to $19.4 million compared to $22.5 million;
Gross margin was 63.9% of net sales compared to 61.9%;
S,G&A expense as a percentage of net sales was 48.3% compared to 42.6%;
Operating income was $17.5 million compared to $21.1 million;
Operating margin was 15.7% compared to 19.3%;
Net income attributable to Inter Parfums, Inc. was $7.3 million or $0.24 per diluted share compared to $10.0 million or $0.32 per diluted share; and,
First quarter 2016 results include the effects of a pending settlement of a tax assessment with the French Tax Authorities in the amount of $1.9 million. Excluding the effect of the pending settlement, net income attributable to Inter Parfums, Inc. would have been $8.7 million or $0.28 per diluted share compared to $10.0 million or $0.32 per diluted share. A reconciliation of net income attributable to Inter Parfums, Inc. to adjusted net income attributable to Inter Parfums, Inc. appears on page 6 of this news release.
INTER PARFUMS AND MONTBLANC EXTEND LICENSE AGREEMENT
New York, NY, October 2, 2015: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, InterparfumsSA, has extended its license agreement with Montblanc by five years. The original agreement, signed in 2010, provided InterparfumsSA with the exclusive worldwide license to create, produce and distribute perfumes and ancillary products under the Montblanc brand through December 31, 2020. The new 10-year agreement, which goes into effect on January 1, 2016, extends the partnership through December 31, 2025 without any material changes in operating conditions from the prior license.
INTER PARFUMS, INC. ANNOUNCES THE CLOSING OF ITS ROCHAS BRAND ACQUISITION
New York, New York – June 1, 2015: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, Interparfums SA closed on its Rochas brand acquisition effective May 29, 2015, in accordance with the terms of the agreement with Procter & Gamble Co. dated March 19, 2015.