Sales generated by Nickel,
our majority owned men's
skin care business acquired in April 2004 and
by Lanvin fragrances, whose license we acquired in
July 2004,
accounted for the balance of the top line growth. Given these uncertainties, you are cautioned
not to place undue reliance on the forward-looking statements.7%, respectively, compared to 14. The
new dividend represents a
33.
Statements in this release which are not historical in nature
are
forward-looking statements. The Company's products are sold
in over 120 countries worldwide
.
snyder pheromones
4 million in last
year's first quarter.T.77 per diluted share, which is nearly level with 2004
's reported
net income.interparfumsinc.8 million for 2003. For the year as a
whole, the Company
's 2004 operating and net margins approximated 13."
Discussing 2005 new product launches, Mr. Madar
noted, "Our new
Celine fragrance line for men and women called Fever is being launched
in France
, the Middle East, Russia and the U. Forward-looking statements involve known
and unknown risks, uncertainties
and other factors that may cause the
actual results to be materially different from projected results
.17 $ 0.
Authorized 1,000,000 shares; none issued
Common stock, $0.jainism fragranced
The 2005 sales
and net income figures assume the dollar
remains at current levels.
Statements in this release
which are not historical in nature are
forward-looking statements.
Business Editors
NEW
YORK----Inter Parfums, Inc. To listen to the live
call, please go to the web site in advance to register
, and if needed,
download and install any necessary audio software.18 $ 0.
Authorized
100,000,000 shares;
outstanding 19,379,917 and 19,164,186
shares in 2004 and 2003, respectively
19 19
Additional paid-in capital 35,538 34,363
Retained earnings 100,772 87,376
Accumulated other comprehensive
income 16,431 9,404
Treasury stock, at cost, 7,064,511 and
7,180,579 shares
in 2004 and 2003,
respectively (26,251) (26,246)
----------- -----------
126,509 104,916
-------
---- -----------
$ 230,485 $ 194,001
=========== ===========
todays fragranced
That, plus the sluggish
economies in Mexico
and Central and South America, and our preference to forego certain
sales
in these regions due to credit risk, are reasons for the decline
in mass market sales. Our
accounts
receivable and inventories increased 8% and 2%, respectively,
from December 31, 2004, which is quite
modest considering that net
sales for the current first quarter was up 22% from last year first
quarter
and 10% compared to the fourth quarter of 2004. Net income rose 13% to
$15. The increase in S,G+A
as a percent of sales is primarily due
to the higher Burberry royalty rate that went into effect
on July 1,
2004 and, to a lesser extent, because of increased expenses incurred
in connection
with compliance with the new Sarbanes-Oxley internal
controls requirements."
He went on to say
, "The decline in fourth quarter net income and
diluted earnings per share were also attributable
to several other
factors including: net interest expense in the fourth quarter of 2004
versus
net interest income in the final quarter of 2003, and a
substantially higher fourth quarter tax rate
. At December 31,
2004, working capital aggregated $130 million and we had a working
capital ratio
of 3. This conference call will also be distributed
live over the Internet via the Investor Relations
section of the
Company's web site at www.82 $ 0.personality splashes
4 million; at
comparable foreign
currency exchange rates, net sales were up
20% for the period;
Gross margin was 57
% compared to 49%;
S, G + A expense as a percentage of sales was 44% compared to
32
%;
Income from operations was $9.23
per diluted share. As expected, higher royalties
and
advertising expenditures required under our new license with Burberry
were primarily responsible
for the increased level of S, G + A expense
for the current quarter."
Discussing the new product
line-up for the remainder of the year,
Mr.001 par; authorized
100,000,000 shares; outstanding
20,179,160 and 19,379,917 shares at
March 31, 2005 and December 31, 2004,
respectively
20 19
Additional paid-in capital
35,184 35,538
Retained earnings 104,369 100,772
Accumulated other comprehensive income 11,694 16,431
Treasury stock, at cost,
6,302,768 and
7,064,511 common shares at March 31,
2005 and December 31, 2004, respectively
(25,309) (26,251)
------------ ------------
125,958 126,509
------------ ------------
$ 238,056 $ 230,485
============ ============
(NASDAQ National Market: IPAR) today reported results for the fourth
quarter and year
ended December 31, 2004, the fifth consecutive year
of record sales, net income and earnings per
share.
2004 Full Year Results
Inter Parfums reported sales of $236.3% increase over the
previous dividend. Later this summer, a new Christian Lacroix fragrance family with
products for
men and women will debut. In our opinion the most productive step will be the
formation of joint
ventures or Company-owned subsidiaries within key
markets to handle Burberry fragrance distribution
."
Russell Greenberg, Executive Vice President + CFO, noted, "As
previously reported, we are looking
for 2005 sales to come in at $280
million and net income and diluted earnings per share to approximate
2004 levels.fragranced finder
1 million, up from $4. Cash and cash equivalents and short-term investments
aggregated
$49. If you are unable
to listen live, the conference call will be archived and can be
accessed
for approximately 90 days at the web site. Dupont, Paul Smith, Christian Lacroix, Celine, Diane
von
Furstenberg and Lanvin.
Fourth Quarter 2004 Compared to Fourth Quarter 2003
Net sales
rose 30% to $63.
Dividend Increased
Inter Parfums also announced that its Board of Directors
increased
the Company's regular quarterly cash dividend to $0.04 per share or
$0.oxygene substances
1 million from
$58.splashes jainism
4 million from $4.8 million;
and, diluted earnings per share were $0. We
have two
global launches in development - the first is the fifth
Burberry fragrance family for both men and
women."
2005 Guidance Reaffirmed
Management reaffirmed its prior 2005 guidance projecting
net sales
of approximately $280 million, a 19% increase compared with 2004. To listen to the live
call, please go to the web site in advance to register, and if needed,
download and install any
necessary audio software. Forward-looking statements involve known
and unknown risks, uncertainties
and other factors that may cause the
actual results to be materially different from projected results
.8%
and 6.0% and 7.
Jean Madar, Chairman of the Board and Chief Executive Officer,
stated
, "Fourth quarter and full year results were in line with
expectations. Cash and cash equivalents
aggregated $41.splashes pheromone
Dupont, Nickel and
Paul Smith."
Russell Greenberg, Executive Vice President +
CFO, pointed out,
"Our financial position remains strong.7 million; and,
Diluted earnings
per share were $0.0 million, up 27% from $185. At comparable foreign currency exchange rates, net
sales
for 2004 were up 22% compared to 2003.0
million.
Given these uncertainties, you are cautioned
not to place undue
reliance on the forward-looking statements.malls jainism
23
========== ==========
Weighted average number of shares outstanding:
Basic 19,701 19,170
Diluted
20,420 20,614
==========
==========
Inter Parfums, Inc."
He went on to say, "As previously
mentioned, initial steps, most
notably higher selling prices to distributors, have been taken to
partially offset the higher royalty and marketing costs under the
terms of the new Burberry license
. Madar concluded, "Having made two acquisitions in 2004, the
Lanvin fragrance license and the majority
stake in Nickel,
acquisitions are clearly an important ingredient in our growth
strategy.
Inter Parfums develops, manufactures and distributes prestige
perfumes and cosmetics as the exclusive
worldwide licensee for
Burberry, S.A. Commercial sites will be considered if they provide worthwhile
non-commercial information regarding this subject, offer an unusual product or service, are the informational
site of a known Perfume House, or are dedicated to a single perfume.
fragranced snyder
22 compared to $0.7
million in
the current first quarter, up from $3. No realized or unrealized gains or losses have been
incurred
in connection with investments in these securities.2 million; at
comparable foreign currency
exchange rates, net sales were up
25% for the period;
Gross margin was 57% compared
to 50%;
S,G+A expense as a percentage of sales was 45% compared to
36%;
Income
from operations rose 5% to $7.personality fragrances
Quarterly Dividend
The Company's regular quarterly cash
dividend of $. The Company also has controlling interest
in Nickel S.
CONSOLIDATED
STATEMENTS OF INCOME
(In thousands except per share data)
Three Months Ended
March 31,
2005 2004
---------- ----------
Net sales
$ 71,087 $ 58,392
Cost of sales
30,510 29,668
---------- ----------
Gross margin 40,577 28,724
Selling, general and
administrative 31,563 18,591
---------- ----------
Income from operations 9,014 10,133
---------- ----------
Other expenses (income
):
Interest expense 215 103
Loss on foreign currency
79 492
Interest income
(246) (232)
---------- ----------
48 363
---------- ----------
Income before income taxes and minority interest
8,966 9,770
Income taxes 3,156 3,464
---------- ----------
Income before minority interest
5,810 6,306
Minority interest in net income of consolidated
subsidiary
1,406 1,527
---------- ----------
Net income $ 4,404
$ 4,779
========== ==========
Net income
per share:
Basic $ 0. Dupont, Paul Smith, Christian
Lacroix, Celine, Diane
von Furstenberg and Lanvin.athena toiletry
18 in
the fourth quarter of 2003. Additionally
, we expect to
introduce our first new Lanvin fragrance, Arpege for men, in the fall
of 2005. The
Company also has controlling interest
in Nickel S.77 $ 0.69
===========
=========== =========== ===========
Weighted average
number of shares
outstanding:
Basic 19,307,579 19,128,715 19,204,768 19,032,460
Diluted 20,386,720
20,470,279 20,494,038 20,116,433
----------- ----------- -----------
-----------
Inter Parfums, Inc.Informational category concerning Perfumes
and Scents.
oxygene worthwhile
In that regard, we have recently begun
reclassifying investments in auction rate securities
as short-term
investments; they were previously classified as cash and cash
equivalents.
Inter
Parfums develops, manufactures and distributes prestige
perfumes and cosmetics as the exclusive worldwide
licensee for
Burberry, S.T.22 $ 0.69 in 2003. Our financial position remains strong.4 to 1.splashes pheromone
Conference Call
The management of Inter Parfums will host a conference call at
11:00 am
ET on Wednesday, May 11, 2005, to discuss first quarter
results and other recent developments. In
addition, Inter Parfums
is a leading producer and supplier of mass market fragrances,
cosmetics
and personal care products.5 million from $7."
Mr.
CONSOLIDATED BALANCE
SHEETS
(In thousands except share and per share data)
ASSETS
December 31, December 31,
2004 2003
------------ ------------
Current assets:
Cash and cash equivalents
$ 40,972 $ 58,958
Account receivable, net 75,382 63,467
Inventories 61,066 54,255
Receivables, other
2,703 1,631
Other current assets
930 1,638
Income tax receivable 544 1,110
Deferred
tax assets 2,605 1,381
----------- -----------
Total current assets 184,202
182,440
Equipment and leasehold improvements, net 6,448 4,967
Trademarks
and licenses, net 34,171 6,323
Goodwill
5,143 --
Other assets 521
271
----------- -----------
$ 230,485 $ 194,001
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current
liabilities:
Loans payable - banks $ 748 $ 121
Current
portion of long-term debt 4,359 --
Accounts payable
30,730 45,152
Accrued expenses 15,385 17
,403
Income taxes payable 2,533 3,411
Dividends payable
581 383
-
---------- -----------
Total current liabilities 54,336 66,470
----------- -----------
Deferred tax liability
2,839 1,417
---
-------- -----------
Long-term debt, less current portion 15,258 --
----------- -----------
Put option
838 --
---
-------- -----------
Minority interest 30,705 21,198
----------- -----------
Shareholders' equity:
Preferred stock, $0.001 par value.ingredient jainism
(NASDAQ National Market: IPAR) today reported results for the
first
quarter ended March 31, 2005. Interested parties may
participate by calling 706-679-3037
, approximately 10 minutes before
the start of the call. This conference call will also be distributed
live over the Internet via the Investor Relations section of the
Company's web site at www., a
men's skin care company.16 per share on an annualized basis.com.fragranced atomization
At March 31, 2005, working
capital
aggregated $129 million and we had a working capital ratio of
almost 3 to 1.
CONSOLIDATED BALANCE SHEETS
(In thousands except share and per share data)
ASSETS
March 31
, December 31,
2005 2004
------------ ------------
Current assets:
Cash and cash equivalents
$ 30,496 $ 23,372
Short-term investments 18,900
17,600
Account receivable, net 77,906 75,382
Inventories
59,592 61,066
Receivables, other
2,123 2,703
Other current assets 1,699 930
Income tax receivable 546 544
Deferred tax assets
2,671 2,605
-----
------- ------------
Total current assets 193,933 184,202
Equipment and leasehold improvements, net 6,175 6,448
Trademarks, licenses
and other intangible
assets, net 32,502 34,171
Goodwill
4,889 5,143
Other assets
557 521
------------
------------
$ 238,056 $ 230,485
============ ============
LIABILITIES AND
SHAREHOLDERS' EQUITY
Current liabilities:
Loans payable - banks $
4,758 $ 748
Current portion of long-term debt 4,137 4,359
Accounts payable 32,667 30,730
Accrued expenses
19,590 15,385
Income taxes payable 2,881
2,533
Dividends payable 807 581
------------ ------------
Total current liabilities
64,840 54,336
------------ -
-----------
Long-term debt, less current portion 13,445 15,258
------------ ------------
Deferred tax liability
2,512 2,839
------------
------------
Put options 756 838
------------ ------------
Minority interest
30,545 30,705
----------
-- ------------
Shareholders' equity:
Preferred stock, $.17 as compared to $0. this month
and April.karma splashes
In addition, the first quarter also included initial
sales of our new Celine fragrance
, Fever. The second is a new
women's Lanvin fragrance. Based upon data provided by the dollar
store
chains, store traffic and sales are down because budget
conscious consumers have less disposable
income in great part because
of high gasoline prices.0 million.04 per share
will be payable on
July 15, 2005 to shareholders of record on June 30,
2005. The Company's products are sold
in over
120 countries worldwide.Inter Parfums Inc. Reports Fourth Quarter and Year-End Results; Board of Directors
Increases Dividend By 33.3%
Diluted earnings per
share was $0. In addition, we are beginning
to see the impact of the
increased distributor prices put into effect during the fourth quarter
of
2004.
The rollout to the rest of Western Europe will take place from May
through year-end, and
we have Asian distribution planned for late
2005. Supplier price concessions are also
in the works
. In addition to fragrance, we
believe that several of our brands may be well suited to skin care
and
cosmetics programs, both of which we are now exploring. Such
factors include renewal of existing
license agreements, effectiveness
of sales and marketing efforts and product acceptance by consumers
,
dependence upon management, competition, currency fluctuation and
international tariff and trade
barriers and governmental regulation.18 $ 0.001 par value.ingredient finder
Company wide, royalty expense aggregated
$7. Madar noted, "The malaise has
continued into the new year.5 million from $3. We ended the year
with only a 9% increase in accounts
receivables and a 13% increase in inventory, both of which are
reasonable in light of the 27% increase in sales for the year.73
Diluted $ 0.perfume thematic
Business Editors
NEW YORK----Inter Parfums, Inc."
He continued, "Product mix as well as
an increase in our selling
prices to distributors for Burberry fragrances caused our gross margin
percentage to increase to 57%. With regard to men's products, a special,
limited edition Burberry
Brit is also under development. In addition,
we are also developing new men's scents for S. For
the
current year, net income is expected to approximate $15. Such
factors include continuation and renewal
of existing license
agreements, effectiveness of sales and marketing efforts and product
acceptance
by consumers, dependence upon management, competition,
currency fluctuation and international tariff
and trade barriers and
governmental regulation. The increase in gross margin percentage, which continues
the
trend of the entire year, related primarily to product mix as prestige
product sales have
been growing while mass market sales have been
declining. Our approach to acquisitions is very disciplined
, with
valuation, growth potential and return on investment guiding our
decision making., a men
's skin care company.osmoz splashes
First Quarter 2005 Compared to First Quarter 2004:
Net sales rose
22% to $71.0 million, down 11% from $10. Approximately 40% of the
sales gain was organic stemming
from the geographic rollout of
Burberry Brit for Men and the continued expansion of Burberry Brit
Red
distribution. Madar noted, "A new Christian Lacroix fragrance family called
Tumulte will be
unveiled this summer, and before year-end, we plan to
have our first Lanvin fragrance called Arpege
Pour Homme on the
market. Finally, we are formulating products and marketing
strategies for an
expanded cosmetics and skin care business drawing
upon our existing brands.com.22 $ 0.001 par;
authorized
1,000,000 shares; none issued
Common stock, $. As we reported in January, fourth
quarter sales growth
was primarily due to the excellent performance by Burberry Fragrances
with
gains stemming from Burberry Brit, the brand's fragrance leader,
and solid results from Burberry
London, Burberry Weekend and Burberry
Touch.osmoz thematic
Jean Madar, Chairman of the Board and Chief Executive
Officer,
stated, "Our sales mix continues to skew more heavily toward prestige
products which
were up 29% over last year's first quarter and
accounted for 88% of consolidated sales."
Discussing
the mass market, Mr. Next week, Marcella
Cacci, who was in charge of Burberry's global licensing
operations,
joins our Company to head the Burberry Fragrances business, and we
believe that we
have a great new asset on the team. If you are unable
to listen live, the conference call will be
archived and can be
accessed for approximately 90 days at the web site. In addition, Inter Parfums
is a leading producer and supplier of mass market fragrances,
cosmetics and personal care products
.jainism worthwhile
Inter Parfums Inc. Reports First Quarter Results; 2006 Preliminary New Product Pipeline Announced and
2005 Guidance Reaffirmed
For the 2005 holiday season, a limited edition Burberry Brit
Gold will
be launched at Burberry stores and select specialty stores
in major markets.8 million from $49.K
. Brand extension has been and will likely continue to
be the foundation of our growth strategy. Interested
parties may
participate by calling 706-679-3037 approximately 10 minutes before
the start of the
call.T.splashes malls
Similarly, promotion and advertising included in
S, G + A approximated $11."
He went on
to say, "Our 2006 plans are moving forward as well. We also have a Christian Lacroix fragrance for women
in
the works.25
Diluted $ 0.6
million in 2003.
7 million compared to $13."
Conference Call
Inter Parfums' management will host a conference
call at 11:00 am
ET on Thursday, March 10, 2005, to discuss fourth quarter and year-end
results
and other recent developments.
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands Except Share and Per Share Amounts)
Three Months Ended
Year Ended
December 31, December 30,
2004 2003 2004 2003
----------- ----
------- ----------- -----------
Unaudited Unaudited
Net sales
$ 63,832 $ 49,232 $ 236,047 $ 185,589
Cost of sales 27,447
24,609 113,988 95,449
----------- ----------- ----------- ---
--------
Gross margin 36,385 24,623 122,059 90,140
Selling
, general
and
administrative 28,874 17,493 89,516 64,147
----------- ----------- ----------- -----------
Income from
operations
7,511 7,130 32,543 25,993
----------- -------
---- ----------- -----------
Other expenses
(income):
Interest 347
48 797 271
(Gain) loss on
foreign currency (143) 11
360 (333)
Interest income (199) (307) (782) (946
)
Loss on
subsidiary's
issuance of
stock 505 215
529 369
----------- ----------- ----------- -----------
510 (33) 905 (639)
------
----- ----------- ----------- -----------
Income before
income taxes and
minority interest
7,001 7,163 31,638 26,632
Income taxes 2,932 2,585
11,542 9,403
----------- ----------- ----------- -----------
Net income before
minority interest 4,069 4,578 20,096 17,229
Minority interest
in net income
of consolidated
subsidiary 583
865 4,393 3,392
----------- ----------- ----------- -----
------
Net income $ 3,486 $ 3,713 $ 15,703 $ 13,837
=========== =========== =========== ===========
Net income per
share:
Basic
$ 0.19 $ 0.toiletry athena
1
million;
Net income declined 7.8% to $4.6 million
in last
year's first quarter.8 million,
or $0.A.
Inter Parfums
, Inc.1
million;
Net income declined 6% to $3.77 in 2004, up 12% from $0.5% for 2003
. The next quarterly dividend
is payable on April 15, 2005 to shareholders of record on March 31,
2005.interparfumsinc.
Inter Parfums, Inc.thematic fragranced
A community sponsored library.
-> Show WiseVault's Web Sites Listing For This Topic
Loading...
(Note: These pages use the Atlas Content Safeguard System (ACSS) and require that Javascript is enabled for viewing.)