Singapore Markets closed

Inter Parfums tops 4Q profit forecasts

NEW YORK (AP) _ Inter Parfums Inc. (IPAR) on Tuesday reported fourth-quarter net income of $4.4 million.

The New York-based company said it had net income of 14 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The perfume maker posted revenue of $149.5 million in the period, which matched Street forecasts.

For the year, the company reported profit of $41.6 million, or $1.33 per share. Revenue was reported as $591.3 million.

Inter Parfums expects full-year earnings to be $1.44 per share, with revenue expected to be $620 million.

Inter Parfums shares have climbed 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $47, a rise of 36 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPAR at https://www.zacks.com/ap/IPAR