Inter Parfums, Inc. (IPAR) Wednesday said its first-quarter profit attributable to the company rose to $31.6 million or $1.03 per share from $15.4 million or $0.51 per share in the comparable period last year. Following the results, the company raised its earnings expectation for the full-year 2013.
On average, five abnalysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share for the first quarter.
Meanwhile, revenues totaled $231.81 million, up from from $165.36 million in the same quarter last year, while four Street analysts expected the company to record revenues of $213.85 million for the current quarter.
Looking ahead to the fiscal year 2013, the company lifted its earnings outlook to a range between $1.10 to $1.12 per share from $1.00 to $1.02 per share, its prior estimate. The company added that it was maintaining its sales guidance of about $510 million for the year. Analysts expect the company to report earnings of $1.03 per share, on revenues of $518.36 million for 2013.
In addition, the company has declared a cash dividend of $0.12 per share, payable on July 15, to shareholders of record on June 28, 2013.
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