Inter Parfums, Inc. Reports Record Second Quarter Results

Dividend

The Company’s regular quarterly cash dividend of $0.08 per share will be payable on October 15, 2012 to shareholders of record on September 28, 2012.

Conference Call

Management will conduct a conference call to discuss financial results and business developments at 11:00 AM EDT on Thursday, August 9, 2012. Interested parties may participate in the call by dialing [phone]; please call in 10 minutes before the conference call is scheduled to begin and ask for the Inter Parfums call. The conference call will also be broadcast live over the Internet. To listen to the live call, please go to www.interparfumsinc.com and click on the Investor Relations section. Please go to the website at least 15 minutes early to register, and download and install any necessary audio software. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days at Inter Parfums’ website. We suggest listeners use Microsoft Explorer as their browser.

In the nearly 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of prestige brands that include Burberry, Lanvin, Jimmy Choo, Van Cleef & Arpels, Montblanc, Paul Smith, Boucheron, S.T. Dupont, Balmain and Repetto. Inter Parfums is also the fragrance and beauty partner for specialty retail and designer brands such as Gap, Banana Republic, Brooks Brothers, bebe, Betsey Johnson, Nine West and Anna Sui. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes in over 120 countries worldwide.

Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases you can identify forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. You should not rely on forward-looking statements because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and "Risk Factors" in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2011 and the reports Inter Parfums files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.

CONSOLIDATED STATEMENTS OF INCOME
(In thousands except per share data)
(Unaudited)
		Three Months Ended									Six Months Ended
		June 30,									June 30,
		2012				2011					2012				2011
Net sales		$	145,555			$	121,063				$	310,923			$	254,426
Cost of sales			57,099				46,477					116,389				93,850
Gross margin			88,456				74,586					194,534				160,576
Selling, general and administrative expenses			75,828				63,739					150,152				124,188
Income from operations			12,628				10,847					44,382				36,388
Other expenses (income):
Interest expense			442				390					805				830
Loss on foreign currency			931				567					1,178				148
Interest income			(311	)			(389	)				(835	)			(706	)
			1,062				568					1,148				272
Income before income taxes			11,566				10,279					43,234				36,116
Income taxes			4,085				3,851					15,499				12,348
Net income			7,481				6,428					27,735				23,768
Less: Net income attributable to the noncontrolling interest			1,473				1,435					6,230				6,016
Net income attributable to Inter Parfums, Inc.		$	6,008			$	4,993				$	21,505			$	17,752
Earnings per share:
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic		$	0.20			$	0.16				$	0.70			$	0.58
Diluted		$	0.20			$	0.16				$	0.70			$	0.58
Weighted average number of shares outstanding:
Basic			30,563				30,506					30,557				30,490
Diluted			30,688				30,695					30,687				30,664
Dividends declared per share		$	0.08			$	0.08				$	0.16			$	0.16

CONSOLIDATED BALANCE SHEETS
(In thousands except share and per share data)
(Unaudited)
ASSETS
		June 30,				December 31,
		2012				2011
Current assets:
Cash and cash equivalents		$	23,130			$	35,856
Accounts receivable, net			139,327				175,223
Inventories			175,753				164,077
Receivables, other			1,287				3,258
Other current assets			5,847				4,258
Income tax receivable			1,967				1,404
Deferred tax assets			8,162				7,270
Total current assets			355,473				391,346
Equipment and leasehold improvements, net			16,102				14,525
Goodwill			2,693				2,763
Trademarks, licenses and other intangible assets, net			101,969				105,750
Other assets			2,024				1,650
Total assets		$	478,261			$	516,034
LIABILITIES AND EQUITY
Current liabilities:
Loans payable – banks		$	4,448			$	11,826
Current portion of long-term debt			1,528				4,480
Accounts payable, trade			74,931				112,726
Accrued expenses			43,200				52,042
Income taxes payable			6,355				2,099
Dividends payable			2,445				2,443
Total current liabilities			132,907				185,616
Deferred tax liability			5,653				6,068
Equity:
Inter Parfums, Inc. shareholders’ equity:
Preferred stock, $.001 par; authorized 1,000,000 shares; none issued
Common stock, $.001 par; authorized 100,000,000 shares; outstanding 30,567,181 and 30,541,506 shares at June 30, 2012 and December 31, 2011, respectively			31				31
Additional paid-in capital			52,184				50,883
Retained earnings			244,860				228,164
Accumulated other comprehensive income			1,782				7,747
Treasury stock, at cost, 10,009,492 common shares at June 30, 2012 and December 31, 2011			(34,151	)			(34,151	)
Total Inter Parfums, Inc. shareholders’ equity			264,706				252,674
Noncontrolling interest			74,995				71,676
Total equity			339,701				324,350
Total liabilities and equity		$	478,261			$	516,034

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