Reuters
Jan 26, 2010
Inter Parfums fourth quarter sales tops view, full year outlook below market
Reuters
Jan 26, 2010
Jan 26 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) said its fourth-quarter sales exceeded its expectations and doubled its quarterly dividend, but forecast profits for 2009 and 2010 below market expectations.
![]() La Tête perfume from Inter Parfums Inc |
The company, which reported fourth quarter sales of $113.6 million beating analysts expectations of $105 million, said comparable fourth-quarter sales were off slightly from the fourth quarter of 2008.
Inter Parfums, whose brands include Van Cleef & Arpels, Burberry and Christian Lacroix, sees 2009 profit of 74 cents a share, while analysts on average were looking for a profit of 75 cents a share, before items.
New York-based New Inter Parfums sees 2010 profit of 78 cents a share, below analysts expectations of 81 cents a share.
The company said its fourth-quarter sales were helped by new product launches and foreign currency exchange rates.
It said it expects to release fourth-quarter results on or about March 10.
Shares of the company closed at $12.45 Tuesday 26 January on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Gopakumar Warrier)
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