New York-based Inter Parfums Inc. posted a 13.9 percent gain in fourth-quarter profits, which rose to $7.5 million, or 18 cents a diluted share, from $6.6 million, or 17 cents a share, in the same period a year ago.
Revenues at the firm reached $112.9 million for the quarter ended Dec. 31, a 12.5 percent increase from $100.4 million in the year-ago period.
For the full year, net income was up 0.1 percent to $30.2 million, or 74 cents a share, from $30.1 million, or 77 cents a share, on annual sales that were off 8.2 percent to $409.5 million from $446.1 million in 2008.
Meanwhile, the firm’s Paris-based Inter Parfums SA subsidiary reported net profits in 2009 gained 7.2 percent to reach 22.6 million euros, or $31.5 million.
Operating profits at Inter Parfums SA dipped 1.7 percent to 33.7 million euros, or $47 million. Operating margin reached 13 percent, a slight improvement on 2008’s 12.9 percent.
The company’s sales declined 2.2 percent to 259.2 million euros, or $361.5 million.
Dollar figures were converted at average exchange rates for the period.
“Inter Parfums [SA] begins 2010 well-prepared for the period ahead,” stated chief executive officer Philippe Benacin. “The current volume of orders along with the initial success of the Burberry Sport line are already promising indicators for robust sales” in the first quarter of 2010.
He added, “The possibility of new acquisitions in the near or medium term is not excluded.”
The French company expects sales will increase 7 percent this year, excluding the effects of currency fluctuation.
Shares of the parent firm closed up 0.8 percent Wednesday at $13.56. Inter Parfums SA stock was up 3.8 percent to 19.20 euros, or $26.20 at current exchange.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
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