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By
Reuters
Published
Nov 23, 2009
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Inter Parfums sees '10 EPS below Street, rev above view

By
Reuters
Published
Nov 23, 2009

Nov 23 (Reuters) - Fragrance maker Inter Parfums Inc (IPAR.O) forecast 2010 earnings per share below market estimates, hurt partly by an investment to grow its Burberry brand, but expects revenue ahead of Wall Street expectations.


www.inter-parfums.fr

The company plans to grow its largest brand, Burberry, in 2010 through the launch of a cosmetics line for women, the investment for which is expected to affect earnings per share by 5 cents.

The company, whose brands also include Van Cleef & Arpels and Christian Lacroix, expects to earn 78 cents a share on net sales of $440 million.

Analysts on average were expecting the company to earn 85 cents, before items, on revenue of $425.8 million, according to Thomson Reuters I/B/E/S.

Earlier this month, the company raised its 2009 earnings per share view to 74 cents.

Shares of the New York-based company closed at $11.90 Monday 23 November on Nasdaq. (Reporting by Abhishek Takle in Bangalore; Editing by Maju Samuel) (([email protected]; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: [email protected]))

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