Inter Parfums (IPAR) Issues Light FY17 EPS Outlook
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Inter Parfums, Inc. (Nasdaq: IPAR) announced initial 2017 guidance, which calls for net sales in the range of $550 million to $560 million, resulting in net income attributable to Inter Parfums, Inc. in the range of $1.20 to $1.24 per diluted share. Guidance assumes the dollar remains at current levels.
*** The Street sees EPS of $1.29 and revenue of $555.3 million.
Russell Greenberg, Executive Vice President & Chief Financial Officer of Inter Parfums, stated, “Our 2017 guidance range implies a year-over-year increase in net sales of between 8% and 10%, based upon the high end of our 2016 net sales guidance of $510 million. Similarly, we are looking for 2017 net income per diluted share attributable to Inter Parfums, Inc. to increase between 13% and 17%, using $1.06 per diluted share, the high end of our 2016 guidance, as a base.”
Reviewing 2017 launch plans for European operations, Jean Madar, Chairman and CEO commented, “Our first new product for Rochas, a women’s fragrance, will be introduced early in the year, initially in about 12 countries. Also this winter, Lanvin Modern Princess, which recently debuted in France, will rollout in wider international distribution. A winter launch is planned for our new multi-scent collection for Boucheron, and come this spring, we have important new initiatives unveiling for the Jimmy Choo signature scent for women and Jimmy Choo Man, with a brand extension for each. A fragrance duo is in the pipeline for the Karl Lagerfeld brand next summer, and our first men’s scent for Coach will unveil in the fall.”
He continued, “For U.S. operations, we will continue to expand global distribution for the Dunhill brand, opening new territories for the very successful Icon family. In addition, we have a new flanker debuting in the spring for the Desire fragrance pillar called Extreme. We will also launch an Abercrombie & Fitch fragrance, First Instinct for women in the early spring, while Hollister has a Wave flanker duo in the works, which we are calling Wave 2, planned for launch later in the second quarter. For Oscar de la Renta, we have a new scent for women under development for a launch in the spring.”
Mr. Madar concluded, “In addition to growing our business by launching new fragrances and rolling them out into new markets, we are equally committed to supporting our established fragrances, especially bestsellers, with major advertising and promotion campaigns.”
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