The company said that net sales increased 20 per cent to reach $85.1m compared to $70.9m in the same period last year, which in turn helped to push net income up by 31 per cent to $5.8m compared to $4.4m.
Breaking the figures down on a geographical basis, the company said that European sales, which center on brand licensed fragrances, rose 20 per cent to reach $75.6m, with sales in the US rising 19 per cent to reach $9.5m.
Jean Madar, Inter Parfums CEO, said of the European division's performance: "This was accomplished as Burberry fragrance posted a 19 per cent sales increase for the period. In addition, sales of Van Cleef & Arpels fragrances, which were modest during the first quarter, are included since the license went effective January 1, 2007."
The company broke into the US personal care industry last year, having brokered a licensing deal with the Gap and Banana Republic retail stores to manufacture private label personal care lines.
Since that announcement continued strong sales in the company's European fragrance division have been bolstered by the success of the private label venture in the US, which it is now aiming to further build on.
Madar said of the plans for the US operations: "In May 2007, over 150 Gap Body stores unveiled the more than 70 new bath and body products created for them, which will be followed by the new Gap eau de toilette line in the third quarter of 2007. The current schedule calls for the new products to begin to rollout to the Gap stores in late summer, and continue throughout the remainder of the year."
Madar also mentioned the company most recent licensing agreement with retailer New York & Company, which he said should see a new bath and body products range hitting 600 stores across the US by the end of the year.
The strength of sales in the first quarter and the rash of new product launches planned throughout the year has also led the company to raise its full year expectations, stating that it now expects sales to hit $375m and net income to reach $21.3m.
In November last year the company had said it expected sales to reach somewhere in the range of $305 - $306m, while net income was expected to be $16.9m.
