Inter Parfums, Inc. Announces Consolidated Sales Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year Ended December 31, 2016 and Reaffirms Earnings Guidance for the Full Year of 2017
January 30, 2017 at 04:05 pm EST
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Inter Parfums, Inc. announced consolidated sales results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net sales of $134.8 million, up 13.9% from $118.3 million for the final quarter of 2015. At comparable foreign currency exchange rates, consolidated fourth quarter net sales increased 15.3%.
For the year, the company expects that net sales rose 11.2% to $521.1 million from $468.5 million in 2015. At comparable foreign currency exchange rates, consolidated 2016 net sales increased 12.1%.
The company provided earnings guidance for the full year ended December 31, 2016 and reaffirmed earnings guidance for the full year of 2017. Net sales of 2016 were about 2% ahead of the top of their 2016 sales guidance, they look for 2016 net income attributable to the company to come in at the top end of their guidance range of $1.10 per diluted share excluding the impact of the previously reported tax settlement, and $1.06 per diluted inclusive of the tax settlement.
The company also reaffirms their 2017 guidance which calls for net sales of between $550 million to $560 million, resulting in net income attributable to the company in the range of $1.20 to $1.24 per diluted share.
Inter Parfums, Inc. manufactures, markets and distributes a range of fragrance and fragrance related products. The Company has two segments. The Company produces and distributes its fragrance products under license agreements with brand owners, and fragrance product sales through its European based operations segment. It has built a portfolio of brands, which include Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T. Dupont, and Van Cleef & Arpels, whose products are distributed in approximately 120 countries around the world. Its brand fragrance products are also produced and marketed through its United States based operations. These fragrance products are sold under trademarks owned by the Company or pursuant to license or other agreements with the owners of brands, which include Abercrombie & Fitch, Anna Sui, Donna Karan, DKNY, Ferragamo, Graff, GUESS, Hollister, MCM, Oscar de la Renta, and Ungaro.
Inter Parfums, Inc. Announces Consolidated Sales Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year Ended December 31, 2016 and Reaffirms Earnings Guidance for the Full Year of 2017