0001144204-14-062408.txt : 20141023 0001144204-14-062408.hdr.sgml : 20141023 20141022183044 ACCESSION NUMBER: 0001144204-14-062408 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20141022 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20141023 DATE AS OF CHANGE: 20141022 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: 141168493 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 v391909_8k.htm FORM 8-K

 

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):
October 22, 2014

 

 

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 October 22, 2014, 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 relating to net sales for the third quarter ended September 30, 2014
·The 2nd paragraph consisting of the table relating to net sales of ongoing European operations and United States operations for the third quarter and the nine month period ended September 30, 2014
·The 3rd paragraph relating to net sales of European operations for the third quarter and nine month period ended September 30, 2014
·The 4th paragraph relating net sales of United States operations for the third quarter ended September 30, 2014

 

Item 7.01. Regulation FD Disclosure.

 

Certain portions of our press release dated October 22, 2014, 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 plans to release operating results for the third quarter ended September 30, 2014
·The 5th paragraph relating to reaffirming guidance for 2014 and plans to release initial guidance for 2015 in mid-November 2014
·The 7th paragraph relating to forward looking information
·The entire 8th paragraph and portions of the 1st and 2nd paragraphs relating to Regulation G, Conditions of Use of Non-GAAP Financial Measures
·The balance of such press release not otherwise incorporated by reference in Item 2.02

 

Item 9.01 Financial Statements and Exhibits.

 

99.1 Our press release dated October 22, 2014

 

 
 

 

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: October 22, 2014

 

 

Inter Parfums, Inc.

By: /s/ Michelle Habert

Michelle Habert, Secretary

 

 

 

EX-99.1 2 v391909_ex99-1.htm EXHIBIT 99.1

 

 

 

FOR IMMEDIATE RELEASE

 

INTER PARFUMS, INC. REPORTS 6% INCREASE IN THIRD QUARTER SALES FROM ONGOING BRANDS

 

Reaffirms 2014 Guidance

 

New York, New York, October 22, 2014: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that for the three months ended September 30, 2014, net sales of the Company’s ongoing brands (excluding Burberry brand sales) increased 6.0% to $134.2 million, as compared to $126.6 million for the corresponding period of the prior year. At comparable foreign currency exchange rates, consolidated third quarter net sales from ongoing brands increased 5.1%. Inter Parfums plans to issue results for the 2014 third quarter on or about November 10, 2014.

 

Ongoing Brand Sales:

 

   Three months ended
September 30,
   Nine Months Ended
September 30,
 
   2014   2013   % Change   2014   2013   % Change 
   ($ in millions) 
         
European-based product sales   $103.4   $97.8    5.7%  $300.4   $255.4    17.6%
United States-based product sales    30.8    28.8    6.9%   73.7    72.2    2.2%
   $134.2   $126.6    6.0%  $374.1   $327.6    14.2%

  

Discussing European-based operations Jean Madar, Chairman & CEO of Inter Parfums noted, “Once again, new fragrance introductions helped drive sales of our three largest brands. Jimmy Choo sales rose 23% due in part to the successful launch of Jimmy Choo Man and the continued popularity of the brand’s signature scent. Montblanc brand sales were up 10% with the spring launch of the new men’s line, Emblem, along with steady gains from the brand’s Legend fragrances. Lanvin sales increased 9% with the rollout of Lanvin Me L’Eau and the continued strong performance by Éclat d’Arpège. The introduction of our first Karl Lagerfeld fragrances for men and women over the summer also contributed to top line growth, adding $3.7 million in incremental third quarter sales. S.T. Dupont brand sales improved 49%, albeit off of a relatively small base, spurred by the recent introductions of the So Dupont and the Paris Saint Germain lines. Comparable quarter sales of certain smaller brands including Van Cleef & Arpels, Boucheron, Repetto and Paul Smith were down due in most cases to new product launches that took place in last year’s third quarter.”

 

Mr. Madar further noted, “Our U.S.-based operations performed well during the third quarter, posting a 7% increase in sales. Agent Provocateur was a contributor to this growth, with the spring launches of Fatale and Fatale Pink in international markets followed by an exclusive U.S. launch at Saks Fifth Avenue. Alfred Dunhill brand sales also improved on sales of its legacy fragrances along with Desire Black, which launched in the spring. Additionally, the incremental contribution of Oscar de la Renta fragrances helped to lift sales in the third quarter.”

 

2014 Guidance

Russell Greenberg, Executive Vice President & Chief Financial Officer stated, “Based upon our year-to-date performance, our expectations for the fourth quarter, and despite the recent strength of the U.S. dollar versus the Euro, we are reaffirming our 2014 guidance of $495 million in sales which represents nearly 15% growth of our ongoing brands. Our expectations for net income attributable to Inter Parfums, Inc. remain in the range of $0.93 to $0.95 per diluted share. Our guidance assumes the dollar remains at current levels. In mid-November 2014, we will release our initial guidance for 2015, which will factor in the many launches scheduled for the coming year. These include Montblanc, Lanvin, Boucheron, Van Cleef & Arpels and Balmain for European-based operations, plus new product launches for the Shanghai Tang and Oscar de la Renta brands, along with the broader rollout of the new Dunhill scent, Icon, for U.S.-based operations in the coming year.”

 

 
 

 

Inter Parfums, Inc. News Release Page 2

October 22, 2014

 

In the more than 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of brands that include Lanvin, Montblanc, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, Paul Smith, S.T. Dupont, Balmain, Repetto, Agent Provocateur, Alfred Dunhill, Anna Sui, Shanghai Tang, Oscar de la Renta, Gap, Banana Republic, and bebe. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes in over 100 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, 2013 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.

 

Regulation G, “Conditions for Use of Non-GAAP Financial Measures,” prescribes the conditions for use of non-GAAP financial information in public disclosures. The Company believes that our presentation of the non-GAAP financial information included in this release is important supplemental measures of operating performance to investors, because it provides readers with more complete disclosure and facilitates a more accurate comparison of current results to historic results.

 

 

Contact at Inter Parfums, Inc. -or- Investor Relations Counsel
Russell Greenberg, Exec. VP & CFO   The Equity Group Inc.
(212) 983-2640   Fred Buonocore (212) 836-9607/fbuonocore@equityny.com
rgreenberg@interparfumsinc.com   Linda Latman (212) 836-9609/llatman@equityny.com
www.interparfumsinc.com   www.theequitygroup.com

 

 

 

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