New York-based Inter Parfums Inc.recorded sales of $120.9 million during the third quarter ended Sept. 30, an increase of 2.9 percent versus $117.5 million the same period a year ago.
At constant exchange rates, quarterly revenues were up 12.9 percent.
The fragrance producer’s product sales in Europe — its Inter Parfums SA subsidiary based in Paris — accounted for the vast majority of revenues: $109.2 million, or 89.3 percent of the quarterly total. U.S. sales were down 13.3 percent to $11.7 million from $13.5 million.
Year-to-date sales at Inter Parfums Inc. rose 17.3 percent, reaching $348 million, compared with $296.6 million in the first nine months of last year. At constant exchange, sales were up 22.6 percent.
Meanwhile, third-quarter sales at Inter Parfums SA increased 16.5 percent to 84.8 million euros, or $108 million at average exchange, driven in part by sustained organic growth from its main fragrance lines, scent launches and the introduction of Burberry Beauty color cosmetics. At constant exchange rates, revenues increased 16.6 percent.
For the first nine months of this year, sales at Inter Parfums SA reached 235.5 million euros, or $310.1 million, up 21.4 percent. At constant exchange, revenues rose 22.4 percent. Full-year guidance for 2010 at both Inter Parfums Inc. and Inter Parfums SA was raised. Due to recent commercial trends and the strength of the fragrance and cosmetics market, Inter Parfums SA said its annual sales should reach between 290 million euros and 295 million euros, or $405.2 million to $412.2 million at current exchange, representing year-on-year growth in the 12 percent to 14 percent range.
Inter Parfums Inc. said it expects net sales for 2010 to reach $455 million and profits attributable to the firm to reach $25.5 million, or 84 cents a diluted share.
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