Inter Parfums Inc. increased net sales by 1 percent on a constant currency basis for the fourth quarter of 2015, to $118.3 million from $125.1 million.
Net income for the quarter fell sharply, though, to $1.9 million, or 6 cents a diluted share, compared with $3.3 million, or 11 cents a diluted share, for the fourth quarter of 2014. Diluted earnings per share were 36 cents compared to 25 cents for the prior-year period. In early trading, the company’s stock rose 4.66 percent to $29.59.
Without taking exchange rates into account, net sales declined 5.4 percent for the fourth quarter. For the full year, sales increased 1.5 percent at comparable foreign currency exchange rates to $468.4 million from $499.3 million. Without taking exchange rates into account, net sales declined 6.2 percent for the year.
Inter Parfums is looking for net sales between $500 million and $510 million for 2016. Guidance for net income is between $1.05 and $1.10 a diluted share.
Inter Parfums’ Paris-based subsidiary, Inter Parfums SA, reported a 25 percent increase in net profits for 2015.