Inter Parfums, Inc. (NASDAQ GS: IPAR) today reported record results for the second quarter ended June 30, 2012.
Second Quarter 2012 Compared to Second Quarter 2011:
- Net sales increased 20% to $145.6 million from $121.1 million; at comparable foreign currency exchange rates, net sales rose 29% for the period;
- European-based operations generated sales of $125.6 million, up 18% from $106.5 million;
- Sales by U.S.-based operations were $20.0 million, up 37% from $14.6 million;
- Gross margin was 60.8% compared to 61.6%;
- S, G & A expense as a percentage of sales was 52.1% compared to 52.6%;
- Operating margins were 8.7% of net sales compared to 9% of net sales;
- Net income attributable to Inter Parfums, Inc. rose 20% to $6.0 million compared to $5.0 million; and,
- Basic and diluted earnings per share were $0.20 or 25% ahead of 2011’s $0.16.
Through the first half of 2012, net sales were $310.9 million or 22% ahead of $254.4 million in the first half of 2011. At comparable foreign currency exchange rates, net sales rose approximately 27%. Net income attributable to Inter Parfums, Inc. increased 21% to $21.5 million or $0.70 per basic and diluted share compared to $17.8 million or $0.58 per basic and diluted share.
Russell Greenberg, Executive Vice President & Chief Financial Officer of Inter Parfums pointed out, “With strong performances across our prestige brand portfolio, we achieved an 18% increase in European-based sales. U.S.-based operations achieved 37% sales growth, with the inclusion of Anna Sui fragrance sales since the start of the year accounting for much of that gain. The strength of the U.S. dollar also had a significant effect on reported sales as the dollar/euro exchange rate for the three months ended June 30, 2012 was 1.28 compared to 1.44 for the corresponding period of 2011.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV