Inter Parfums reaffirms 2007 guidance, announces new products

NEW YORK In announcing third-quarter results, perfume and cosmetics manufacturer and distributor Inter Parfums reaffirmed its full year 2007 guidance and stated that men’s fragrances under the Quicksilver brand will launch in fall 2008.

For full-year 2007, management reaffirmed its guidance of net sales, net income and diluted earnings per share of about $378 million, $21.5 million and $1.04, respectively. The guidance assumes the dollar remains at the current level.

The company also stated that its license agreement concluded in March 2006 with Quicksilver has been extended to men’s fragrances under the Quicksilver brand, with the launch of the first Quicksilver men’s fragrance slated for fall 2008.

In the United States, the company posted a 4 percent boost in sales to $14.2. million. This was achieved despite the high threshold set in the year-ago period, when U.S. sales rose 64 percent to $13.6 million primarily due to first time shipments of the Discover Collection of five fragrances and a full line of bath and body to all Banana Republic’s North American stores.

The current quarter sales increase reflects the staged rollout of new products to additional Gap locations, which is still under way, as well as new product launches for both Banana Republic and Gap stores, the company stated.