Jan 26, 2010
Inter Parfums fourth quarter sales tops view, full year outlook below market
Jan 26, 2010
Jan 26 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) said its fourth-quarter sales exceeded its expectations and doubled its quarterly dividend, but forecast profits for 2009 and 2010 below market expectations.
La Tête perfume from Inter Parfums Inc
The company, which reported fourth quarter sales of $113.6 million beating analysts expectations of $105 million, said comparable fourth-quarter sales were off slightly from the fourth quarter of 2008.
Inter Parfums, whose brands include Van Cleef & Arpels, Burberry and Christian Lacroix, sees 2009 profit of 74 cents a share, while analysts on average were looking for a profit of 75 cents a share, before items.
New York-based New Inter Parfums sees 2010 profit of 78 cents a share, below analysts expectations of 81 cents a share.
The company said its fourth-quarter sales were helped by new product launches and foreign currency exchange rates.
It said it expects to release fourth-quarter results on or about March 10.
Shares of the company closed at $12.45 Tuesday 26 January on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Gopakumar Warrier)
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