Inter Parfums Q2 Profit Rises; Reaffirms 2014 Guidance - Quick Facts

(RTTNews) - Inter Parfums, Inc. (IPAR) reported that its second-quarter net income attributable to company increased to $6.1 million from $3.8 million; and, earnings per share were $0.20 compared to $0.12, prior year.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter. Analysts' estimates typically exclude special items.

Net sales of ongoing brands (excluding Burberry brand sales) increased 22.1% to $118.2 million from $96.8 million; at comparable foreign currency exchange rates, net sales of ongoing brands increased 20.0%. Reported net sales of $118.2 million were up 0.6% compared with $117.5 million in the 2013 second quarter when Burberry brand sales were included. Analysts expected revenue of $118.23 million for the quarter.

The company reaffirmed 2014 guidance. The company continues to expect net sales to come in at approximately $495 million, or 15% ahead of 2013 net sales of ongoing brands. Net income attributable to Inter Parfums is expected to be in the range of $0.93 to $0.95 per share. Analysts expect the company to report 2014 profit per share of $0.99 on revenue of $503.43 million.