-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ppy2Ow1AgpGC2jTEXImsUNgH46Ufr6bzF8jB9nrBcA6uPAJClvqJ8rZvwFmHvCXM cq9eYz1yOpcxse6QSUp6HQ== 0000822663-10-000002.txt : 20100126 0000822663-10-000002.hdr.sgml : 20100126 20100126164754 ACCESSION NUMBER: 0000822663-10-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100126 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20100126 DATE AS OF CHANGE: 20100126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTER PARFUMS INC CENTRAL INDEX KEY: 0000822663 STANDARD INDUSTRIAL CLASSIFICATION: PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844] IRS NUMBER: 133275609 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16469 FILM NUMBER: 10548147 BUSINESS ADDRESS: STREET 1: 551 FIFTH AVE STREET 2: STE 1500 CITY: NEW YORK STATE: NY ZIP: 10176 BUSINESS PHONE: 2129832640 MAIL ADDRESS: STREET 1: 551 FIFTH AVENUE STREET 2: STE 1500 CITY: NEW YORK STATE: NY ZIP: 10176 FORMER COMPANY: FORMER CONFORMED NAME: JEAN PHILIPPE FRAGRANCES INC DATE OF NAME CHANGE: 19920703 8-K 1 ip8k012610.htm IPAR_8K_2009_RESULT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K


CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 Date of Report (Date of Earliest Event Reported):
January 26, 2010

 

Inter Parfums, Inc.
(Exact name of Registrant as specified in its charter)

Delaware 0-16469 13-3275609
(State or other jurisdiction of
incorporation or organization)
Commission
File Number
(I.R.S. Employer
Identification No.)

 

551 Fifth Avenue, New York, New York 10176
(Address of Principal Executive Offices)

 

212. 983.2640
(Registrant's Telephone number, including area code)

________________________________________________________________________________
(Former name or former address, if changed since last report)

 Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2 below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 2.02. Results of Operations and Financial Condition.

        Certain portions of our press release dated January 26, 2010, a copy of which is annexed hereto as Exhibit no. 99.1, are incorporated by reference herein, and are filed pursuant to this Item 2.02. They are as follows:

  • Certain portions of the 1st paragraph and the entire 2nd paragraph (consisting of tables) relating to net sales for the fourth quarter and the full fiscal year ended December 31, 2009
  • Certain portions of the 3rd paragraph relating to European operations
  • Certain portions of the 4th paragraph relating to United States operations

Item 7.01. Regulation FD Disclosure.

        Certain portions of our press release dated January 26, 2010, a copy of which is annexed hereto as Exhibit no. 99.1, are incorporated by reference herein, and are filed  pursuant to this Item 7.01 and Regulation FD. They are as follows:

  • The last sentence of the 1st  paragraph relating to our plans to release operating results for 2009
  • The last two sentences of the 3rd  paragraph relating to 2010 launches for European operations
  • The last sentence of the 4th paragraph relating to proposed additional products, expanded distribution and specialty retail agreements for United States operations
  • The 5th paragraph relating to 2009 guidance and 2010 guidance
  • The 8th paragraph relating to forward looking information
  • The balance of such press release not otherwise incorporated by reference in Item 2.02 or Item 8.01

Item 8.01. Other Events.

        Certain portions of our press release dated January 26, 2010, a copy of which is annexed hereto as Exhibit no. 99.1, are incorporated by reference herein, and are filed pursuant to this Item 8.01. They are as follows:

  • The 6th paragraph relating to dividends

Item 9.01 Financial Statements and Exhibits. 

        99.1 Our press release dated January 26, 2010.

 

SIGNATURES

        Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.

Dated: January 26, 2010

EX-99 2 ex99_012610.htm IPAR_EX99_2009_RESULT

FOR IMMEDIATE RELEASE

INTER PARFUMS, INC. REPORTS 13% INCREASE IN FOURTH QUARTER SALES
FULL YEAR SALES REACH $410 MILLION
Announces 100% Increase in Cash Dividend Rate to $0.26 Per Share Annually

New York, New York, January 26, 2010: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that net sales for the final quarter of 2009 were approximately $113.6 million, a 13% increase from $100.4 million, in the fourth quarter of 2008.  At comparable foreign currency exchange rates, net sales for the fourth quarter were up 3%.  Thus, 2009 net sales of $410.1 million declined 8% from $446.1 million in 2008.  At comparable foreign currency exchange rates, net sales for 2009 declined 7%.  Inter Parfums plans to issue final results for the 2009 fourth quarter and year on or about March 10, 2010.  

  Inter Parfums, Inc.

By: /s/ Russell Greenberg
Russell Greenberg, Executive Vice President

 

Three months ended
December 31,

Year ended
December 31,

 

2009

2008

% Change

2009

2008

% Change

 

($ in millions)

 

 

European based product sales..

  $  96.5

     $   83.2

16%

   $ 361.9

    $  386.4

-6%

United States based product sales

17.1

         17.2

-1%

     48.2

59.7

-19%

 

$113.6

    $ 100.4

13%

$ 410.1

$  446.1

-8%

             

Discussing European-based operations, Jean Madar, Chairman & CEO of Inter Parfums noted, "Although we were looking for a strong fourth quarter, the 16% sales increase was even better than we expected and was positively affected by changes in foreign currency exchange rates.  For the year as a whole, there was only a modest decline in sales, all the more respectable during the protracted global economic downturn and in the absence of major women's fragrance launches. In local currency, Burberry fragrance sales declined only 2% in 2009, thanks to the launch of Burberry The Beat for men and solid performances by the brand's existing lines.  Sales of Lanvin fragrance, the second largest brand in the portfolio, rose 4%, reflecting further gains by the Eclat d'Arpège, reorders for the Jeanne Lanvin line and the launch of the Lanvin L'Homme Sport line.  For the 2010, we have several major fragrance line launches in the pipeline including our first for Jimmy Choo, and the addition of Montblanc to our fragrance portfolio in July. We also have the debut of a complete Burberry make-up line which we believe will open up new opportunities for the brand's strategic development."

On the subject of U.S.-based operations, Mr. Madar went on to say, "We are extremely pleased by the turnaround in the second half of 2009.  Comparable fourth quarter sales were off only slightly from the fourth quarter of 2008.  As expected, second half comparisons were considerably better than the first half due to new product launches for Brooks Brothers, Banana Republic, the debut of bebe fragrance in both domestic and international markets and the introduction of a New York & Company scent.  Work is underway on additional products and expanded distribution, and hopefully we may have new specialty retail agreements for 2010."

Russell Greenberg, Executive Vice President & Chief Financial Officer, stated, "We again confirm our 2009 guidance for net income attributable to Inter Parfums, Inc. of approximately $22.3 million or $0.74 per diluted share.  As we announced in November, we look forward to a resumption of growth in sales and profitability in 2010 as indicated by our current guidance of $440.0 million in net sales resulting in net income attributable to Inter Parfums, Inc. of approximately $23.5 million, or $0.78 per diluted share.  Guidance assumes the dollar remains at current levels."

Inter Parfums also announced that its Board of Directors has approved a 100% increase in the Company's quarterly cash dividend to $0.065 per share, which brings the annual cash dividend to $0.26 per share, beginning with the next dividend distribution.  Mr. Madar noted, "The decision to increase our dividend underscores the Board's confidence in our Company's outlook."

Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Burberry, Van Cleef & Arpels, Jimmy Choo, Paul Smith, Montblanc and S.T. Dupont.  The Company also owns Lanvin Perfumes and Nickel, a men's skin care company.  It also produces personal care products for specialty retailers under exclusive agreements for Gap, Banana Republic, New York & Company, Brooks Brothers and bebe brands.  In addition, Inter Parfums produces and supplies mass market fragrances and fragrance related products. The Company's products are sold in over 120 countries worldwide.

Statements in this release which are not historical in nature are forward-looking statements.  Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases you can identify forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words.  You should not rely on forward-looking statements because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors.  These factors include, but are not limited to, the risks and uncertainties discussed under the headings "Forward Looking Statements" and "Risk Factors" in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2008 and the reports Inter Parfums files from time to time with the Securities and Exchange Commission.  Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.

 
Contact at

 

Inter Parfums, Inc. 
Russell Greenberg, Exec. VP & CFO
(212) 983-2640
rgreenberg@interparfumsinc.com www.interparfumsinc.com

or   Investor Relations Counsel
The Equity Group Inc.
Linda Latman  (212) 836-9609/llatman@equityny.com
Lena Cati (212) 836-9611/lcati
@equityny.com
www.theequitygroup.com

 

 

-----END PRIVACY-ENHANCED MESSAGE-----