This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Inter Parfums, Inc. Reports Second Quarter Results

Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter ended June 30, 2011.

Second Quarter 2011 Compared to Second Quarter 2010:
  • Net sales increased 12.3% to $121.1 million from $107.8 million; at comparable foreign currency exchange rates, net sales rose 4.7% for the period;
  • European-based operations generated sales of $106.5 million, up 15.9% from $91.9 million;
  • Sales by U.S.-based operations were $14.6 million, down 8.2% from $15.9 million;
  • Gross margin was 62% compared to 60%;
  • S, G & A expense as a percentage of sales was 53.0% compared to 49.4%;
  • Operating margins declined to 9.0% of net sales from 10.7% of net sales;
  • Net income attributable to Inter Parfums, Inc. decreased 6.8% to $5.0 million as compared to $5.4 million; and,
  • Basic and diluted earnings per share declined 11.1% to $0.16 from $0.18.

Through the first half of 2011, net sales were $254.4 million or 12.0% ahead of $227.1 million in the first half of 2010. At comparable foreign currency exchange rates, net sales rose approximately 8.0%. Net income attributable to Inter Parfums, Inc. increased 49% to $17.8 million or $0.58 per basic and diluted share from $11.9 million or $0.39 per basic and diluted share.

Russell Greenberg, Executive Vice President & Chief Financial Officer of Inter Parfums pointed out, “Although second quarter net sales by European-based operations were 16% ahead of last year, they fell short of expectations. As we reported last month, certain shipments scheduled for the second quarter were delayed until the third quarter due to the transfer of inventory and certain other unforeseen transitional issues in connection with the June opening of our new 340,000 square foot distribution center outside of Paris. As a result, we did not achieve the leverage of fixed S, G & A expenses in the current second quarter that we would have otherwise achieved. The comparable quarter increase in sales by European-based operations was in great part due to the commencement of prestige product distribution in the U.S. by our subsidiary, Interparfums Luxury Brands, at the start of 2011, as was the improvement in gross margin, offset somewhat by the negative impact of a weaker U.S. dollar.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs