Inter Parfums (IPAR) Tops Q3 EPS by 6c

Inter Parfums (NASDAQ: IPAR) reported Q3 EPS of $0.46, $0.06 better than the analyst estimate of $0.40. Revenue for the quarter came in at $138.9 million versus the consensus estimate of $137.08 million.

Inter Parfums sees FY2015 EPS of $0.95-$1.00, versus the consensus of $0.97. Inter Parfums sees FY2015 revenue of $460-470 million, versus the consensus of $468.04 million.

Jean Madar, Chairman & CEO of Inter Parfums, Inc. noted, “Despite the 16% depreciation of the euro versus the dollar from last year’s third quarter coupled with negative market conditions in China, Russia, and Brazil, consolidated net sales improved 3.5% or 11.4% at comparable foreign currency exchange rates. As we reported last month, European based operations achieved a 6.5% increase in third quarter net sales, equating to a 16.8% increase at comparable foreign currency exchange rates, which was slightly offset by the 6.5% decline in third quarter U.S. based sales.”

Discussing European based operations, Mr. Madar noted, “For the first nine months of 2015, net sales in local currency for our two largest brands, Montblanc and Jimmy Choo were up 6% and 51%, respectively, driven by a combination of new product introductions and the staying power of more established scents. Lanvin, the last of our top three brands, had a 1% decline in local currency brand sales, which are particularly sensitive to the state of Russia’s economy. Among our mid-sized brands, we had good performances by Boucheron and Paul Smith fragrances, where local currency sales were up 26% and 18%, respectively, fueled by new product launches. By contrast, last year’s first half launch and rollout of the Karl Lagerfeld fragrance duo made for a challenging comparison as year-to-date sales were down 45% in local currency.”

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

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