NEW YORK — Fourth-quarter net sales for Inter Parfums experienced a slight decline to $11.2 million, compared with $112.9 million in the year-ago period.
Sales from the company's European-based operations dropped to $95.5 million during the quarter, which ended Dec. 31, 2010, from $96.3 million during fourth quarter 2009. U.S. operations, however, increased 2%, bringing the sales total to $17 million.
“The economic rebound, coupled with several major new product launches, produced meaningful sales growth across all major prestige brands and in all geographic regions in 2010," said Inter Parfums EVP and CEO Russell Greenberg. "For our U.S.-based operations, 2010 sales growth was also spurred by the economic recovery, as well as new product launches and greater international distribution of the specialty retail brands for which we develop, produce and sell.”
Looking ahead, Inter Parfums confirmed its guidance for 2011, projecting sales of about $525 million, while net income is expected to total approximately $30 million, or 98 cents per diluted share.