Inter Parfums Q4 net sales slip 6.4%

Perfumery and cosmetic products manufacturer Inter Parfums has reported a 6.4% decrease in net sales to $176.9m in the fourth quarter 2012, down from $189.1m during the same period in 2011.

The France-based company’s net income for the fourth quarter rose to $99.6m, as against $4.12m for the same quarter in 2011.

The company’s net sales for the full year 2012 rose 6.3% to $654.1m, as against $615.2m for the same quarter in 2011.

Inter Parfums European operations for the fourth quarter have reported a 10.1% decrease in sales to $152.4m, compared to $169.6m for the corresponding quarter in 2011.

The company’s US-based sales rose by 25.9% to $24.5m, compared to $19.5m for the same period in 2011.

According to the firm, gross margin for net sales has grown to 63% in fourth quarter 2011, compared to 61.1% for the same period in previous year.

The company has also received exit payment of $198.8 m for the Burberry license agreement, which reported a 119.4% growth in operating margin of net sales.

Inter Parfums chairman & CEO Jean Madar said the company performance in 2012 was eventful and productive.

"In addition to achieving record sales and earnings in the absence of new major product launches, we added two new license agreements with iconic luxury fashion houses, Karl Lagerfeld and Alfred Dunhill," Madar added.

"The addition of these brands is representative of our growth strategy as we move into the next phase of our Company’s evolution."