Inter Parfums posts 31 percent gain in Q1

NEW YORK Inter Parfums, which manufacturers and distributes fragrances, cosmetics and personal care products, posted a U.S. sales gain of 31 percent during the first quarter, reflecting the strength of its specialty retail business.

Sales in the United States rose 31 percent to $12.6 million compared with $9.5 million in the year-ago period. Net sales for the company rose 45 percent to $123.2 million from $85.1 million. At a comparable foreign currency exchange rate, net sales were up 35 percent for the first quarter.

Net income rose 50 percent to $8.7 million, or 42 cents per share, compared with $5.8 million, 28 cents per share, in the year-ago period.

Jean Madar, chairman and chief executive officer, said the company continues to add new product, adapt existing ones and replenish stock for its specialty retail partners. At Brooks Brothers, the company is moving forward in the development of its initial line of new Brooks Brothers fragrance products for men and women, slated to launch in Brooks Brothers’ U.S. stores from the coming holiday season.

In addition, the company recently announced that it expanded its current relationship with Gap Inc. with the signing of a four-year licensing agreement for international distribution of personal care products through Gap and Banana Republic stores as well as select specialty and department stores outside the United States, including duty-free and other travel-related retailers. The agreement expires Dec. 31, 2011.