Inter Parfums, Inc. reported third quarter net sales increased 12% to $75.4 million. Gross margin rose to 56% of net sales, as compared to last year’s 50%. Net income fell to $3.8 million from $4.0 million a year ago.
Net sales through September 30, 2005 increased 21% to $207.9 million. Net income fell to $11.4 million from $12.2 million.
In an unrelated move, Inter Parfums announced that one of its stockholders, LV Capital USA, Inc., has entered into an agreement to sell 3,436,050 shares of its common stock at $15.50 per share. In addition, Jean Madar, Inter Parfums’chairman and CEO, and Philippe Benacin Inter Parfums’ vice chairman and president, have granted to the underwriters a 30-day option to purchase up to an additional 515,408 shares of Inter Parfums common stock to cover over-allotments, if any.