Inter Parfums Inc. (IPAR) announced that net sales for the fourth quarter were about $113.6 million, a 13% increase from $100.4 million in the prior year quarter. At comparable foreign currency exchange rates, net sales for the quarter up 3%.
Analysts polled by Thomson Reuters expected the company to report revenues of $104.96 million for the quarter. Analysts' estimates typically exclude special items.
Inter Parfums also announced that its Board of Directors has approved a 100% increase in the quarterly cash dividend to $0.065 per share, which brings the annual cash dividend to $0.26 per share.
Looking ahead, the company confirms 2009 guidance for net income attributable to Inter Parfums of about $22.3 million or $0.74 per diluted share. Analysts predict the company to report earnings of $0.75 per share for 2009.
For 2010, the company still expects $440.0 million in net sales resulting in net income attributable to Inter Parfums of about $23.5 million, or $0.78 per diluted share. Analysts estimate the company to report earnings of $0.80 per share on revenue of $440.50 million for 2010.
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