Inter Parfums (IPAR) Tops Q1 EPS by 4c

Inter Parfums (NASDAQ: IPAR) reported Q1 EPS of $0.32, $0.04 better than the analyst estimate of $0.28. Revenue for the quarter came in at $109.2 million versus the consensus estimate of $109.6 million.

Inter Parfums sees FY2015 EPS of $0.98-$1.00, versus the consensus of $1.00.

Jean Madar, Chairman & CEO of Inter Parfums, Inc. noted, “As we reported last month, the comparable quarterly decline in sales by our European-based operations was primarily due to two factors. One was the nearly 20% depreciation of the euro versus the dollar, which concealed meaningful gains by two of our largest brands, Montblanc and Jimmy Choo, where in local currency brand sales rose 19% and 52%, respectively. In dollars however, Montblanc brand sales declined 2% while Jimmy Choo brand sales rose only 25%. The second factor was last year’s launch of Karl Lagerfeld’s signature scents for men and women, which produced more than $13 million in brand sales in the first quarter of 2014 compared to $2.5 million in the current first quarter. Offsetting some of the sales decline by our European-based operations was the 16% increase by our U.S.-based operations, which unveiled two new products during the quarter, Extraordinary by Oscar de la Renta and Icon by Dunhill, and sales of both have surpassed our expectations.”

On the subject of new product launches for European operations slated for the year, Mr. Madar noted, “The new fragrance line-up is rich in 2015 and has already begun with a men’s and women’s fragrance, Boucheron Quatre. There will also be a women’s version of Emblem by Montblanc, a new Jimmy Choo women’s scent called Blossom, Repetto Eau Florale, and still another for Van Cleef & Arpels. New entrants for men are also in the works. We will be unveiling one for Balmain, the first new men’s scent created by Inter Parfums, and one each for men and women for Lanvin. Also planned is Private Klub by Karl Lagerfeld, a fragrance duo, with a scent for both men and women. For U.S. operations, in addition to the continuing geographic rollout of Extraordinary by Oscar de la Renta and Icon by Dunhill, we have Romantica by Anna Sui launching in the fall. TheSilk Road Collection by Shanghai Tang just had its official launch with rollout ensuing in different regions throughout the summer and early fall.”

He went on to say, “We already have 2016 in our sights. In addition to product launches in the pipeline for our existing brands, we are also developing programs and business plans for the four new brands that have or soon will be joining our portfolio: Abercrombie & Fitch, Hollister, Rochas and Coach. We continue to expect to close on the Rochas acquisition mid-year.”

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

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