Inter Parfums (IPAR) Tops Q2 EPS by 8c, Revenues Beat; Affirms FY18 Sales Views Below Consensus

Inter Parfums (NASDAQ: IPAR) reported Q2 EPS of $0.35, $0.08 better than the analyst estimate of $0.27. Revenue for the quarter came in at $149.4 million versus the consensus estimate of $145.21 million.

• Net sales were $149.4 million, up 15.7% from $129.1 million, at comparable foreign currency exchange rates, net sales increased 12.3%;
• Net sales by European based operations rose 8.3% to $115.6 million from $106.7 million;
• Net sales by U.S. based operations increased 50.8% to $33.8 million, compared to $22.4 million;
• Gross margin was 64.0% compared to 65.0%;
• S,G&A expenses as a percentage of net sales were 51.5% compared to 53.8%
• Operating income increased 29.7% to $18.8 million from $14.5 million;
• Operating margin rose to 12.6% compared to 11.2%;
• The effective income tax rate was 30.2% compared to 33.4%;
• Net income attributable to Inter Parfums, Inc. increased 61.6% to $10.9 million from $6.7 million and;
• Net income attributable to Inter Parfums, Inc. per diluted share rose 59.1% to $0.35 from $0.22.

Mr. Greenberg concluded, “As we reported last month, we continue to look for 2018 net sales to approximate $665 million and net income per diluted share attributable to Inter Parfums, Inc. to come in at $1.59. Guidance assumes the dollar remains at current levels.”

GUIDANCE:

Inter Parfums sees FY2018 revenue of $665 million, versus the consensus of $669.62 million.

For earnings history and earnings-related data on Inter Parfums (IPAR) click here.

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