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Inter Parfums Misses Q1 Profit Forecasts

Inter Parfums Inc. has reported first-quarter net income of $7.3 million.
Fierce by Abercrombie & Fitch | Source: Facebook Abercrombie & Fitch
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  • Associated Press

NEW YORK, United States — Inter Parfums Inc. on Tuesday reported first-quarter net income of $7.3 million.

The New York-based company said it had profit of 24 cents per share. Earnings, adjusted for pretax expenses, were 28 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The perfume maker posted revenue of $111.5 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $109.5 million.

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Inter Parfums expects full-year earnings in the range of $1.05 to $1.10 per share, with revenue in the range of $500 million to $510 million.

Inter Parfums shares have risen 30 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.99, a decrease of nearly 3 percent in the last 12 months.

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