Inter Parfums Inc. (IPAR), Monday provided earnings outlook for fiscal 2010, which came above the Street consensus.
For 2010, the company expects net income attributable to Inter Parfums of about $23.5 million or $0.78 per share, and net sales of $440 million. Analysts polled by Thomson Reuters expected the company to report earnings of $0.85 per share on revenue of $425.82 million for the year. Analysts' estimates typically exclude special items.
The company noted that the launch of this cosmetics line will require a significant investment in the first year, and is expected to affect 2010 net income attributable to Inter Parfums by about $1.5 million or $0.05 per share.
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