Inter Parfums, Inc. Reports Third Quarter Results

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 EndedSeptember 30,														Nine Months EndedSeptember 30,
					2012							2011							2012							2011
Net sales					$	166,264						$	171,706						$	477,187						$	426,132
Cost of sales						65,146							64,323							181,535							158,173
Gross margin						101,118							107,383							295,652							267,959
Selling, general and administrative expenses						79,039							85,838							229,190							210,026
Income from operations						22,079							21,545							66,462							57,933
Other expenses (income):
Interest expense						391							687							1,195							1,517
(Gain) loss on foreign currency						1,405							(1,239	)						2,584							(1,091	)
Interest income						(52	)						(241	)						(887	)						(947	)
						1,744							(793	)						2,892							(521	)
Income before income taxes						20,335							22,338							63,570							58,454
Income taxes						7,158							9,054							22,658							21,402
Net income						13,177							13,284							40,912							37,052
Less: Net income attributable to the noncontrolling interest						3,159							2,851							9,389							8,867
Net income attributable to Inter Parfums, Inc.					$	10,018						$	10,433						$	31,523						$	28,185
Earnings per share:
Net income attributable to Inter Parfums, Inc. common shareholders:
Basic					$	0.33						$	0.34						$	1.03						$	0.92
Diluted					$	0.33						$	0.34						$	1.03						$	0.92
Weighted average number of shares outstanding:
Basic						30,570							30,539							30,561							30,506
Diluted						30,717							30,698							30,697							30,676
Dividends declared per share					$	0.08						$	0.08						$	0.24						$	0.24

CONSOLIDATED BALANCE SHEETS (In thousands except share and per share data) (Unaudited)
ASSETS
					September 30, 2012						December 31, 2011
Current assets:
Cash and cash equivalents					$	25,851					$	35,856
Accounts receivable, net						167,207						175,223
Inventories						161,058						164,077
Receivables, other						1,726						3,258
Other current assets						6,376						4,258
Income tax receivable						677						1,404
Deferred tax assets						9,641						7,270
Total current assets						372,536						391,346
Equipment and leasehold improvements, net						15,911						14,525
Goodwill						2,761						2,763
Trademarks, licenses and other intangible assets, net						103,162						105,750
Other assets						2,176						1,650
Total assets					$	496,546					$	516,034
LIABILITIES AND EQUITY
Current liabilities:
Loans payable – banks					$	1,385					$	11,826
Current portion of long-term debt						--						4,480
Accounts payable, trade						69,644						112,726
Accrued expenses						49,860						52,042
Income taxes payable						8,670						2,099
Dividends payable						2,446						2,443
Total current liabilities						132,005						185,616
Deferred tax liability						5,605						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 30,576,426 and 30,541,506 shares at
September 30, 2012 and December 31, 2011,
respectively						31						31
Additional paid-in capital						52,408						50,883
Retained earnings						252,471						228,164
Accumulated other comprehensive income						7,854						7,747
Treasury stock, at cost, 10,009,492 common shares at
September 30, 2012 and December 31, 2011						(34,151)						(34,151)
Total Inter Parfums, Inc. shareholders’ equity						278,613						252,674
Noncontrolling interest						80,323						71,676
Total equity						358,936						324,350
Total liabilities and equity					$	496,546					$	516,034

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