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Reuters
Published
Nov 17, 2010
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Inter Parfums Q3 profit beats Street

By
Reuters
Published
Nov 17, 2010

Nov 9 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) posted a higher-than-expected quarterly profit as a higher-margin product mix at its European business boosted gross margins.

Inter Parfums
Burberry's fragrance, The Beat

Inter Parfums, which sells brands including Van Cleef & Arpels, Burberry and Christian Lacroix, reported a net income attributable to the company of $8.4 million, or 28 cents a share, compared with 7.3 million, or 24 cents a share, a year ago.

Net sales increased 3 percent to $120.9 million.

Analysts on an average were expecting earnings of 22 cents a share, on revenue of $120.9 million, according to Thomson Reuters I/B/E/S.

Gross margins rose to 59 percent from 57 percent in the year-ago quarter.

The company backed its 2010 earnings outlook of 84 cents a share.

Inter Parfums shares, has risen 18 percent since the company posted better-than-expected sales in late July, closed at $18.62 on Tuesday on Nasdaq.

(Reporting by Mihir Dalal in Bangalore; Editing by Roshni Menon)

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