press releases
INTER PARFUMS, INC. REPORTS 22% INCREASE IN SECOND QUARTER SALES FROM ONGOING BRANDS
New York, New York, July 23, 2014: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended June 30, 2014, net sales of the Company’s ongoing brands (excluding Burberry brand sales) increased 22.1% to $118.2 million, as compared to $96.8 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated second quarter net sales from ongoing brands increased 20.0%. When including Burberry brand sales, consolidated 2014 second quarter net sales increased 0.6% as Burberry brand sales amounted to $20.7 million for the second quarter of 2013 and represented the sale of inventory to Burberry and authorized sell-off of remaining Burberry finished goods. Inter Parfums plans to issue results for the 2014 second quarter on or about August 11, 2014.
INTER PARFUMS, INC. REPORTS 2014 FIRST QUARTER RESULTS Sales of Ongoing Brands Increase 17%
New York, New York, May 7, 2014: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the first quarter ended March 31, 2014.
First Quarter 2014 Compared to First Quarter 2013:
Net sales of ongoing brands (excluding Burberry brand sales) increased 17% to $121.7 million from $104.1 million; at comparable foreign currency exchange rates, net sales of ongoing brands increased 16%;
Reported net sales of $121.7 million were 43% below the $213.8 million reported in the 2013 first quarter when Burberry brand sales were included;
European-based operations generated sales of ongoing brands of $102.3 million, up 20% from $85.4 million;
Sales by U.S.-based operations were $19.4 million, up 4% from $18.7 million;
Gross margin was 56.9% of net sales compared to 63.0%;
S, G & A expense as a percentage of net sales was 42.6% compared to 31.6%;
Operating margin was 14.3% of net sales compared to 31.3% of net sales;
Net income attributable to Inter Parfums, Inc. was $12.2 million compared to $42.9 million; and,
Basic and diluted earnings per share were $0.29 compared to $1.03.
INTER PARFUMS, INC. REPORTS 17% INCREASE IN FIRST QUARTER SALES FROM ONGOING BRANDS
New York, New York, April 24, 2014: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended March 31, 2014, net sales of the Company’s ongoing brands (excluding Burberry brand sales) increased 17% to $121.7 million, as compared to $104.1 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated first quarter net sales from ongoing brands increased 16%. Consolidated 2014 first quarter net sales declined 43% as Burberry brand sales were included in the prior year period. Inter Parfums plans to issue results for the 2014 first quarter on or about May 7, 2014.
INTER PARFUMS, INC. REPORTS 2013 FOURTH QUARTER AND FULL YEAR RESULTS
New York, New York, March 11, 2014: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the fourth quarter ended December 31, 2013.
Fourth Quarter 2013 Compared to Fourth Quarter 2012:
Net sales of ongoing brands (excluding Burberry brand sales) increased 19% to $105.5 million from $88.8 million;
Reported net sales of $105.5 million were 40% below the $176.9 million reported in the 2012 fourth quarter when Burberry brand sales aggregated $88.1 million; at comparable foreign currency exchange rates, net sales also declined 40%;
European-based operations generated sales of ongoing brands of $78.4 million, up 22% from $64.1 million; including Burberry brand sales, European-based sales were down 48%;
Sales by U.S.-based operations were $27.1 million, up 11% from $24.5 million;
Gross margin was 57.3% of net sales compared to 63.0%;
S, G & A expense as a percentage of net sales was 67.6% compared to 54.6%;
Net loss attributable to Inter Parfums, Inc. was $4.2 million or $0.13 per diluted share. In the prior year period, there was a gain on termination of the Burberry license of $198.8 million. After taxes and allocation to the noncontrolling interest the net gain attributable to Inter Parfums, Inc. common shareholders aggregated $93.0 million. As a result, fourth quarter 2012, reported net income attributable to Inter Parfums, Inc. was $99.6 million and diluted earnings per share were $3.24. Excluding the after tax net gain on the termination of the Burberry license in 2012, net income attributable to Inter Parfums, Inc. was $6.6 million or $0.21 per diluted share.
INTER PARFUMS, INC. DECLARES SPECIAL CASH DIVIDEND OF $0.48 PER SHARE
New York, New York, November 18, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its Board of Directors has declared a special cash dividend of $0.48 per share, payable in one lump sum on December 16, 2013 to shareholders of record on December 2, 2013. This special dividend is in addition to the Company’s regular quarterly cash dividend of $0.12 per share, which will be paid on January 15, 2014 to shareholders of record on December 31, 2013.
INTER PARFUMS, INC. REPORTS 2013 THIRD QUARTER RESULTS Raises 2013 and 2014 Guidance
New York, New York, November 6, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the third quarter ended September 30, 2013.
Third Quarter 2013 Compared to Third Quarter 2012:
Net sales of ongoing brands (excluding Burberry brand sales) increased 45.0% to $126.8 million from $87.2 million;
Net sales including Burberry brand sales were down 23.8% to $126.8 million, compared to $166.3 million; at comparable foreign currency exchange rates, net sales declined 23.9%;
European-based operations generated sales of ongoing brands of $98.1 million, up 41.2% from $69.5 million; including Burberry brand sales, European-based sales were down 34.0%;
Sales by U.S.-based operations were $28.7 million, up 62.3% from $17.7 million;
Gross margin was 55.2% of net sales compared to 60.8%;
S, G & A expense as a percentage of net sales was 43.7% compared to 47.5%;
Operating margin was 11.6% of net sales compared to 13.3% of net sales;
Net income attributable to Inter Parfums, Inc. was $7.9 million compared to $10.0 million; and,
Diluted earnings per share attributable to Inter Parfums, Inc. were $0.25 compared to $0.33.
New York, NY, October 18, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its wholly-owned subsidiary Inter Parfums USA, LLC entered into an agreement to acquire certain assets of the fragrance division of Oscar de la Renta, LLC, the internationally renowned fashion house. Terms were not disclosed. Simultaneously, the firms entered into a worldwide and exclusive licensing agreement to create, produce and distribute perfumes and cosmetics under the Oscar de la Renta brand. Financo LLC acted as the financial advisor to Inter Parfums, USA, LLC in connection with this transaction
INTER PARFUMS, INC. AGAIN RAISES ITS 2013 GUIDANCE AND PROVIDES PRELIMINARY GUIDANCE FOR 2014
New York, New York, September 12, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that once again it is raising 2013 guidance and is now looking for net sales to come in at approximately $540 million resulting in net income attributable to Inter Parfums, Inc. of approximately $1.18 per diluted share. The Company also announced preliminary 2014 guidance which calls for net sales of approximately $475 million, representing a nearly 16% increase compared to anticipated sales of ongoing brands (excluding Burberry) in 2013. The Company’s preliminary guidance for 2014 net income attributable to Inter Parfums, Inc. is approximately $0.90 to $0.95 per diluted share. Guidance assumes the dollar remains at current levels.
INTER PARFUMS, INC. REPORTS 2013 SECOND QUARTER RESULTS
New York, New York, August 7, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter ended June 30, 2013.
Second Quarter 2013 Compared to Second Quarter 2012:
Net sales of ongoing brands (excluding Burberry brand sales) increased 17% to $96.8 million from $82.7 million;
Net sales including Burberry brand sales were down 19.3% to $117.5 million, compared to $145.6 million; at comparable foreign currency exchange rates, net sales declined 20.6%;
European-based operations generated sales of ongoing brands of $72.0 million, up 15.0% from $62.8 million; including Burberry brand sales, European-based sales were down 26.2%;
Sales by U.S.-based operations were $24.8 million, up 24.4% from $20.0 million;
Gross margin was 54.1% of net sales compared to 60.8%;
S, G & A expense as a percentage of net sales was 47.4% compared to 52.1%;
Operating margin was 6.7% of net sales compared to 8.7% of net sales;
Net income attributable to Inter Parfums, Inc. was $3.8 million compared to $6.0 million; and,
Basic and diluted earnings per share attributable to Inter Parfums, Inc. were $0.12 compared to $0.20.
INTER PARFUMS USA SIGNS AN EXCLUSIVE LICENSE AGREEMENT FOR AGENT PROVOCATEUR FRAGRANCES
New York, NY, July 29, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it has entered into a 10.5-year exclusive worldwide license to create, produce and distribute perfumes and related products under London-based luxury lingerie brand, Agent Provocateur. The agreement commences on August 1, 2013 and runs through December 31, 2023. Financo LLC acted as the financial advisor to Inter Parfums USA in connection with this transaction.
New York, NY, July 15, 2013: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its newly created Hong Kong subsidiary, Inter Parfums USA Hong Kong Limited, has entered into a 12-year exclusive worldwide license to create, produce and distribute perfumes and related products under China’s leading luxury brand, Shanghai Tang. The agreement commenced on July 1, 2013. The Company plans to launch its first fragrance under the Shanghai Tang brand in Spring 2014.
KARL LAGERFELDBV AND INTER PARFUMS SIGN A NEW EXCLUSIVE FRAGRANCE LICENSE AGREEMENT
New York, NY, October 25, 2012: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that Karl Lagerfeld BV, the internationally renowned haute couture fashion house, and InterparfumsSA, its majority-owned subsidiary and the creator of prestige perfumes and cosmetics, have signed a worldwide and exclusive license agreement to create, produce and distribute perfumes under the Karl Lagerfeld brand. This 20-year agreement starting today replaces a previous license between the Karl Lagerfeld and Coty companies which was terminated by mutual consent.
INTERPARFUMSSA AND BURBERRY ANNOUNCE TRANSITION AGREEMENT
New York, New York, October 11, 2012: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that with regard to the future transfer of the Burberry fragrance and beauty business, its subsidiary, InterparfumsSA and Burberry have signed a transition agreement in order to facilitate a smooth transition, which includes an additional three month period ending on March 31, 2013 and confirms the exit payment by December 31, 2012. Under the terms of this agreement, InterparfumsSA will continue operating the business for this brand until March 31, 2013, at which time the business will be turned over to Burberry.
New York, New York, July 26, 2012: Inter Parfums, Inc. (the "Company") (NASDAQ GS: IPAR) today announced that following several months of discussions, its subsidiary, InterparfumsSA and Burberry have been unable to agree on final terms on a new operating model for the fragrance and beauty business. As such, on December 31, 2012, Burberry will buy out the license rights for €181 million ($220 million at current exchange rates exclusive of receivables, inventories and other tangible assets).