Inter Parfums (IPAR) Bests Q3 Sales Views; Boost FY11 Sales Outlook
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Price: $115.60 +0.74%
Financial Fact:
Interest expense: 515K
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Interest expense: 515K
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Inter Parfums, Inc. (Nasdaq: IPAR) reports third-quarter sales rose 42 percent from $120.9 million to $171.7 million. The Street was looking for $157.84 million.
Additionally, Russell Greenberg, Executive Vice President & Chief Financial Officer stated, “Based upon year-to-date sales levels and expectations for the final quarter of this year, we are raising our 2011 sales guidance to approximately $570.0 million, from approximately $550.0 million. Our guidance for net income attributable to Inter Parfums, Inc. remains at $32.5 million or $1.05 per diluted share due to the high level of advertising and promotional expenses planned for the final quarter of 2011. Guidance assumes the dollar remains at current levels.”
The Street is currently at $551.8 million.
Additionally, Russell Greenberg, Executive Vice President & Chief Financial Officer stated, “Based upon year-to-date sales levels and expectations for the final quarter of this year, we are raising our 2011 sales guidance to approximately $570.0 million, from approximately $550.0 million. Our guidance for net income attributable to Inter Parfums, Inc. remains at $32.5 million or $1.05 per diluted share due to the high level of advertising and promotional expenses planned for the final quarter of 2011. Guidance assumes the dollar remains at current levels.”
The Street is currently at $551.8 million.
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