Inter Parfums Announces 2Q Sales, Raises Guidance

Inter Parfums announced second quarter sales and raised its 2004 sales guidance. Operating results for the quarter are expected to become available on August 11.

The company reported that net sales for the second quarter were $46.8 million, up 13% compared to $41.4 million in the second quarter of 2003. At comparable foreign currency exchange rates, net sales were 14% ahead of the same quarter last year.

For the first half of 2004, net sales were about $105.2 million, a 33% gain over $79 million in the comparable last-year period. In comparable foreign currency exchange rates, net sales rose 28% versus the same period last year.

Inter Parfums raised its 2004 sales guidance to $225 million, which includes incremental sales resulting from the company’s recently acquired Lanvin fragrance license, partially offset by the effect of the rise in the dollar v. the euro during the second quarter of 2004. Inter Parfums’ prior sales guidance for 2004 was $222 million. Management is maintaining its 2004 net income guidance of $15.8 million. Sales and net income guidance assumes that the dollar remains at current levels.