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Inter Parfums Q1 profit falls 6.8% YOY

Inter Parfums Inc. said its first-quarter normalized net income came to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.

EPS declined 6.9% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.6 million, a decline of 6.8% from $9.3 million in the prior-year period.

The normalized profit margin dropped to 7.7% from 8.5% in the year-earlier period.

Total revenue grew year over year to $111.5 million from $109.2 million, and total operating expenses grew 6.6% from the prior-year period to $94.0 million from $88.2 million.

Reported net income decreased 24.9% year over year to $7.5 million, or 24 cents per share, from $9.9 million, or 32 cents per share.