Inter Parfums Profit Misses Estimates As European Sales Fall

(RTTNews) - Fragrances maker Inter Parfums Inc (IPAR) on Friday reported second-quarter net earnings of $4.4 million or $0.14 per share compared with $6.1 million or $0.20 per share last year.

As previously reported, the company said its revenues for the quarter were down 13.7% at $102 million compared with $118.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.17 per share on revenues of $102 million for the quarter. Analysts' estimates typically exclude special items.

The company said it suffered from weak sales in Europe, hurt by currency fluctuations, difficult comparisons and weakness in certain markets.

Gross margin improved to 59.1% from 57.6% last year.

For the full year 2015, the company still expects earnings of $0.95 to $1.00 per share on revenues of $460 million to $470 million. Analysts expect earnings of $1.00 per share on revenues of $464 million.

The company said its guidance takes into account weak business conditions prevailing in China and Eastern Europe.