Inter Parfums' Profit Jumps 9% in Third Quarter

2008-11-11 | 12:05

New launches propel gains.

Inter Parfums Inc. said its third-quarter profit rose 9% as strong European sales and two major product launches helped boost results.

The perfume maker earned $6.2 million, or 20 cents per share, during the three months ended Sept. 30. That compares with a profit of $5.7 million, or 18 cents per share, during the same period last year.

Revenue climbed 21 percent to $123.5 million, up from $102.3 million last year.

Analysts surveyed by Thomson Reuters expected the New York-based company to earn 20 cents per share on revenue of $121.4 million.

During the quarter, the company benefited from the launch of new fragrances bearing the Van Cleef & Arpels Feerie and Jeanne Lanvin names.

"These two major new product launches were responsible for much of the top-line growth," Chairman and Chief Executive Jean Madar said in a statement.