Inter Parfums Q2 Sales Increases 17%

(RTTNews) - Inter Parfums Inc. (IPAR) Tuesday said second-quarter net sales of the company's ongoing brands (excluding Burberry brand sales) increased 17 percent to $96.8 million, as compared to $82.7 million prior year, with strong growth in both its European and U.S.-based operations.

When the contribution of Burberry sales is included, consolidated sales for the second quarter were $117.5 million, down 19.3 percent from $145.6 million last year.

Analysts polled by Thomson Reuters expected revenues of $89.98 million for the quarter. Analysts typically exclude one-time items.

Looking forward, the company lifted its 2013 guidance and currently expects net sales to reach about $525 million resulting in net income attributable to Inter Parfums of about $1.14 per share. Previous guidance called for net sales of $510 million with resulting net income of $1.10 and $1.12 per share.

Analysts currently estimate revenues of $518.89 million and revenues of 1.22 per share for the year.