New York-based fragrance producer Inter Parfums Inc. said Monday afternoon it registered second-quarter profits of $5.4 million, or 18 cents a diluted share, up 26.7 percent from $4.2 million, or 14 cents a share, a year ago, beating consensus estimates by 1 cent.
This story first appeared in the August 10, 2010 issue of WWD. Subscribe Today.
Sales for the quarter ended June 30 reached $107.8 million, a 21.6 percent increase from $88.6 million in the same period last year.
The firm attributed the results to “the strength of [its] existing brand portfolio,” which is being expanded “with new, high-value brands.”
Inter Parfums announced new specialty retail and licensing agreements with the Betsey Johnson and Nine West brands last month, noted Jean Madar, chairman and chief executive officer, who added: “Following the successful launch and global distribution of the Bebe signature fragrance that began [in] summer 2009, the second scent, Bebe Sheer, debuts this month.”
For the first half, Inter Parfums turned a net profit of $11.9 million, or 39 cents a share, compared with profits of $9.7 million, or 32 cents, in the six months last year, an increase of 23.3 percent. The top line was up as well, with revenues coming in at $227.1 million, a 26.9 percent jump from $179 million in 2009.