Fourth-quarter sales at New York-based Inter Parfums Inc. dropped 15.7 percent to $100.6 million from $119.4 million in the same period a year ago, but edged out Wall Street analysts’ estimates of $98.3 million, according to Yahoo Finance.
At constant exchange, sales during the quarter ended Dec. 31 were down 9 percent.
For the full year, sales were up 14.6 percent to $446.3 million, from $389.6 million in 2007, a 12 percent increase at comparable foreign exchange rates.
The firm expects to report fourth-quarter and annual results in mid-March and reaffirmed its previous guidance for full-year net income of about $25 million, or 81 cents a diluted share.
Meanwhile, Inter Parfums SA, the Paris-based subsidiary of Inter Parfums Inc., reported 2008 sales on target at 265 million euros, or $389.9 million at average exchange for the calendar year, a 9 percent increase over 2007.
At constant exchange, sales increased 14 percent to 276 million euros, or $406 million. However, the firm warned of a tough first quarter ahead. It stated that, faced with a stiff year-on-year comparison — revenues since early 2008 were boosted by the successful launch of Burberry The Beat scent — and the difficult current economic environment, “2009 first-quarter sales will significantly contract in relation to last year’s first quarter.”
Inter Parfums, however, confirmed its full-year 2009 objective of 5 percent sales gains, and said it will continue to explore external growth opportunities.
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