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FOR
IMMEDIATE RELEASE
INTER PARFUMS PROVIDES INITIAL GUIDANCE FOR
2008
WITH RECORD SALES, NET INCOME AND DILUTED EARNINGS PER
SHARE
New York, New York, November 28, 2007 - Inter Parfums, Inc.
(NASDAQ GS: IPAR) today announced initial guidance for 2008.
Management is projecting 2008 net sales of approximately $437
million, or about 15.6% ahead of 2007's guidance of $378
million. Net income for 2008 should approximate $24.1 million
or $1.16 per diluted share. This represents a 12% improvement
over management's 2007 net income guidance of $21.5 million or
$1.04 per diluted share. This guidance assumes the dollar
remains at current levels, is based upon current operations and
assumes that no further licensing or specialty retail agreements or
brand acquisitions are consummated.
Jean Madar, Chairman and CEO of Inter Parfums, noted, "Our 2008
new product launch schedule for European-based operations is
especially strong, driving top line growth for that part of our
business. The launch of The Beat, the sixth Burberry
fragrance family in March 2008 should lead the top line growth for
European-based operations. We also have high expectations for
the other products in our new product pipeline including two more
women's Roxy fragrances, Love and Heart, a Quiksilver fragrance for
men, and a Quiksilver suncare collection, Van Cleef & Arpels
and Lanvin fragrances for women, plus limited edition men's and
women's fragrances for Paul Smith, and an S.T. Dupont fragrance
line for both men and women."
He continued, "With regard to our U.S.-based operations, we have
clearly shifted our focus away from the mass market to specialty
retail, and we are extremely pleased and equally motivated by the
successes we have achieved by our specialty retail
initiative. For 2008, there are a considerable number of new
products and brand expansions in the works for our specialty retail
partners. We are also hopeful that the first new products for
Brooks Brothers' U.S. stores will be on the market before 2008
year-end."
Russell Greenberg, Executive Vice President & Chief
Financial Officer, noted, "Although 2008 will
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