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 $104.1 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated first quarter net sales from ongoing brands increased 16%. Consolidated 2014 first quarter net sales declined 43% as Burberry brand sales were included in the prior year period. Inter Parfums plans to issue results for the 2014 first quarter on or about May 7, 2014.
|Ongoing Brand Sales:||Three months ended March 31,|
|(in millions)||2014||2013||% Change|
|European-based product sales||$||102.3||$||85.4||19.8||%|
|United States-based product sales||19.4||18.7||3.9||%|
In the 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of brands that include Lanvin, Montblanc, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, Paul Smith, S.T. Dupont, Balmain, Repetto, Agent Provocateur, Alfred Dunhill, Anna Sui, Shanghai Tang, Oscar de la Renta, Gap, Banana Republic, Brooks Brothers, bebe, and Betsey Johnson. 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 100 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, 2013 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. Regulation G, “Conditions for Use of Non-GAAP Financial Measures,” prescribes the conditions for use of non-GAAP financial information in public disclosures. The Company believes that our presentation of the non-GAAP financial information included in this release is important supplemental measures of operating performance to investors, because it provides readers with more complete disclosure and facilitates a more accurate comparison of current results to historic results.