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By
Reuters
Published
May 11, 2010
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Inter Parfums first quarter profit in-line, ups earnings view

By
Reuters
Published
May 11, 2010

May 10 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) posted a quarterly profit that was in line with Wall Street estimates, and raised its earnings outlook for fiscal 2010 as it sees benefits from a stronger dollar.

Inter Parfums
La Tête perfume from Inter Parfums Inc

For 2010, the company, which will launch its first Burberry cosmetics collection in July, now expects to earn about 80 cents a share compared with its earlier estimate of about 78 cents a share. It also backed its 2010 sales outlook of $440 million.

Analysts on average were expecting earnings of 82 cents on revenue of $450 million, according to Thomson Reuters I/B/E/S.

Net income for the first quarter was $6.6 million, or 22 cents a share, compared with net income of $5.4 million, or 18 cents a share, a year ago.

Analysts on average were expecting earnings of 22 cents a share.

In April, the company had pre-announced its revenue for the quarter.

Gross margins for Inter Parfums, whose brands include Van Cleef & Arpels, Burberry and Christian Lacroix, were 60.1 percent.

Shares of the New York-based company closed at $16.68 Monday 10 May on Nasdaq. (Reporting by Shobhana Chadha in Bangalore; Editing by Jarshad Kakkrakandy)

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