Inter Parfums maintains FY view; outlines plans for 2013
* Second-quarter earnings/share $0.20, in line with estimates
* Second-quarter revenue $145.6 mln, vs est $145.5 mln
* Maintains full-year outlook
* Says 2013 net sales could reach $400 mln
Aug 8 (Reuters) - Perfume maker Inter Parfums Inc, which will lose its Burberry license at the end of the year, maintained i t s full-year forecast and outlined plans to revamp its business in 2013.
The company said it will expand existing brands into new markets and add new brands either on its own or as a licensee. It expects to begin 2013 with about $250 million in cash and shareholders' equity of about $375 million.
British luxury brand Burberry last month said it will end its partnership with Inter Parfums' Paris-based unit at the end of this year to pursue more profitable options.
In a statement, CEO Jean Madar said Inter Parfums had planned for the eventuality. The company will be launching Montblanc Legend fragrance for women and a Lanvin brand extension called Jeanne Lanvin Couture in Europe this year, he said.
Inter Parfums said 2013 net sales could reach about $400 million with operating margin of more than 10 percent.
The company also reported a second-quarter profit in line with a nalysts' expectations.
Second-quarter profit rose to $6.0 million, or 20 cents per share, from $5.0 million, or 16 cents per share, a year earlier.
Revenue rose 20 percent to $145.6 million.
Analysts on average had expected earnings of 20 cents per share on revenue of $145.5 million.
For 2012, the company continues to expect earnings of $1.17 per share on revenue of $632.0 million.
Analysts on average are expecting earnings of $1.19 on revenue of $637.1 million, according to Thomson Reuters I/B/E/S.
Inter Parfums shares, which have risen 9 percent this year, closed at $17.11 o n Wednesday on the Nasdaq. (Reporting by Ranjita Ganesan; Editing by Sreejiraj Eluvangal)
- Tweet this
- Share this
- Digg this