Inter Parfums Reports 68% Increase in Q4 Sales; Backs 2011, 2012 EPS Estimates

Inter Parfums, Inc.

today announced that net sales for the fourth quarter of 2011 were approximately $189.1 million, a 68% increase from $112.5 million in the fourth quarter of 2010. At comparable foreign currency exchange rates, fourth quarter net sales were up 61%. Thus 2011 net sales rose 34% to $615.2 million, exceeding management's guidance of $570.0 million. At comparable foreign currency exchange rates, 2011 net sales were up 28%. Inter Parfums plans to issue its results for the fourth quarter and year ended December 31, 2011 on or about March 13, 2012. Russell Greenberg, Executive Vice President & Chief Financial Officer stated, “While sales were 8% ahead of our previous forecast, we are maintaining our 2011 guidance for net income attributable to Inter Parfums, Inc. of approximately $32.5 million or $1.05 per diluted share, as a result of significant advertising and promotional expenditures incurred. We look forward to continued top and bottom line growth in 2012. As previously reported, for 2012 we expect net sales of approximately $625.0 million and net income attributable to Inter Parfums, Inc. of approximately $35.7 million, or $1.16 per diluted share. Guidance assumes the dollar remains at current levels.”