Inter Parfums Earnings: Here’s Why Shares are Down Now
Inter Parfums Inc. (NASDAQ:IPAR) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.42%.
Inter Parfums Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40% to $0.12 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Decreased 19.28% to $117.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Inter Parfums Inc. reported adjusted EPS income of $0.12 per share. By that measure, the company beat the mean analyst estimate of $0.08. It met the average revenue estimate of $117.5 million.
Quoting Management: Commenting on European-based operations, Jean Madar, Chairman & CEO of Inter Parfums stated, “Our ongoing prestige brands generated impressive comparable quarter sales growth of 15%. With the 2013 launch of Flash, our second fragrance by Jimmy Choo, and continued sales of the brand’s signature scent, Jimmy Choo brand sales rose 43%. Driven by the continued strong demand for its Legend fragrances, Montblanc sales increased 20% compared to the second quarter of 2012. Lanvin sales were up 14% reflecting the continued popularity of Eclat d’Arpège and the recent launch of Lanvin Me, coupled with the steady performance of the Jeanne Lanvin line. In the second half, new product launches and rollouts are in the works for the Repetto signature scent and Place Vendôme by Boucheron.”
Key Stats (on next page)…