Mar 11, 2010
Inter Parfums fourth quarter profit tops Street, keeps 2010 view
Mar 11, 2010
March 10 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) posted an adjusted fourth-quarter profit that topped Wall Street expectations, helped by new product launches and higher sales at its European-based operations, and kept its 2010 forecast.
Inter Parfums, whose brands include Van Cleef & Arpels, Burberry and Christian Lacroix, posted net income attributable to the company of $5.5 million, or 18 cents a share, compared with $5.1 million, or 17 cents a share, a year ago.
Excluding a goodwill impairment charge, the company earned 22 cents a share according to Thomson Reuters I/B/E/S.
Revenue rose 13 percent to $112.9 million.
Analysts on average were looking for a profit of 19 cents a share, before items, on revenue of $446.4 million, according to Thomson Reuters I/B/E/S.
New York-based New Inter Parfums kept its full-year profit forecast of 78 cents a share, on sales of $440.0 million.
Earlier this year, the company said its Paris-based unit and Montblanc, part of luxury goods group Richemont (CFR.VX), signed a perfume-making deal for 10-and-a-half years .
Inter Parfums shares closed at $13.56 Wednesday 10 March on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy)
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