Inter Parfums, Inc. (NASDAQ:IPAR) grew on earnings published before Monday’s opening bell.
The New York-based Inter reported net sales were $177.2 million, up 18.5% from $149.5 million; at comparable foreign currency exchange rates, net sales increased 21.2%;
Net sales by European based operations increased 16.8% to $134.8 million from $115.4 million, while net sales by U.S. based operations popped 24.4% to $42.4 million, compared to $34.1 million in the prior-year quarter.
Said CEO Jean Madar, "In every region in which we operate, we achieved sales growth in 2018. In our three largest markets, North America, Western Europe and Asia, sales rose 19%, 9% and 24%, respectively.
"Our business in the Middle East has also been quite robust with a year-over-year sales increase of 17%, and even in Eastern Europe and Central and South America, 2018 sales were ahead 7% and 1%, respectively, compared to 2017."
As to the future, Madar continued, "We have several major launches in the works for 2019. We recently unveiled Montblanc Explorer for men and have been rolling out our first men’s scent for Rochas called Moustache."
The Company’s regular quarterly cash dividend of $0.275 per share is payable on April 15, to shareholders of record on March 29.
Founded more than 30 years ago, Inter Parfums, Inc. is a premier fragrance company with a diverse portfolio of prestige brands that includes Abercrombie & Fitch, Agent Provocateur, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, and Oscar de la Renta.”
Shares leaped $2.48, or 3.3%, to $77.72
