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call records Wonderful day, all users, and welcome To the inter parfums third quarter 2007 business call.At the moment, i choose To inform you that this conference is being recorded and that all participants are currently in a listen only mode.Thanks for your time.Good day, and welcome To our 2007 third quarter business call.If you have not received a copy of the blog post we issued yesterday afternoon, please contact with linda latman of the equityGroup at 212 836 9609, and could fax or e mail a copy To you.Before case further, i want To remind listeners that this business call may contain forward looking statements, which entail known and unknown risks, uncertainties and other facTors that may cause actual results To be materially completely Totally more advanced than projected results.Problem of the include, but aren't limited To, the risks and questions discussed under the headings forward looking statements and risk facTors in inter parfums' annual report on form 10 k for the fiscal year ended december 31st, 2006, and the reports inter parfums filed each with the securities and exchange commission.Inter parfums does not intend To and undertakes no duty To update the ideas discussed.As the majority of you know, when we refer To our european based jobs, we are primarily sharing sales of prestige brand name fragrances, which often can be conducted out of france.When we discuss our state operations, we are with reference To sales of specialty retail and mass xafs products.Trying out Outlet burberry bag uk
our record third quarter financial results.As we said there was an, net sales rose To an increasing $102.3 million, Up 14% Totally between $89.7 million in the same period yr after.At comparable foreign forex rates, third quarter net sales were 9% ahead of yr after.Third quarter sales by our european based shops were $88.1 million, Up closely 16% from $76.1 million in the last year's third quarter.The rise was due inGreat part To the launches of the roxy and paul smith rose fragrance lines, andGrowing contribution of van cleef arpels fragrances.Shipments by our four majority owned european submission subsidiaries, which had been functioning since mid first quarter, also considered inTo our european based salesGrowth.Us sales raised 4% To $14.2 million, That might seem modest To some.Fortunately, understand in last year's third quarter, we have made first time product shipments To all of banana republic's united states sTores.In most cases, withinside the 2006 third quarter, us based sales were 64% ahead of individuals one year earlier.Before iGo longer, i'd like To point out an important distinction between the initial product launch for banana republic as compared To the initial product launch for theGap.Banana republic products were shipped To all of their north american sTores having said that.Gap products on the contrary have been phased in over time.One last point with reference To sales, as we stated in our second quarter business call, prior To establishing majority owned distribution subsidiaries and our entry inTo niche retail arena, seasonality was not a veryGood facTor in our business.More than our annual salesGuidance, you can clearly see that the other half is expected To be more seasonal than it has in the past.Moving on To earning measures.Gross border in the third quarter 2007 rose To 59%, against 54% in 2006.With the development due To the higher wholesale selling prices reported by our four majority owned distribution subsidiaries, as when compared To hisToric ex facTory sales To distribuTors, as well the effect of the higherGrowth rate of higher margin european based fragrance sales compared To us based sales.Sg tremendous tremendous cost, as a share of third quarter sales was 47% in 2007, compared with 44% in 2006.Promotion and advertising a part of sg aggregated $15.9 million for present day's third quarter, Up 16% in last year's $13.1 million, While royalty expense used in SG aggregated $9.1 million down roughly 13% from $10.5 million in last summers third quarter.As discussed yr after, royalty expense for the several weeks ended september 30th, 2006, included a catch up amount of no more than $1.5 million caused by the September 2006 burberry license amendment, Which among other matters simplified the method of calibrating royalties and was retroactive To January 1, 2006.The balance of the sg increase relates To the operating expenses of our european everyday use subsidiary.Third quarter netGain increased 22% To $5.7 million after $4.6 million, And diluted money coming in per share were $0.27 up 17% because of $0.23 per watered down share.Before passing the phone call over To jean, i would like To point out that invenTory levels at the close of the third quarter of about $101 million were very similar as the start of the third quarter.Reasons for invenTories To be at these levels will become more obvious as you hear jean discuss the launched agenda for the fourth quarter and coming year.This time, i will transform over To jean madar, your own chairman and ceo.Say thanks, russ.I join russ in thanking you for your participation on Today's business call.The roll out of theGap collection of bath and body of which began in the spring is now essentially completed, with final more or less 300Gap sTores shipped in ocTober.Also the six eaux de Toilettes that debuted this summer atGap body sTores is now able To found in about 650Gap sTores locations.The most up-To-Date item inGap stores are called, persons, with our five high end fragrances for women and men, named and packaged to define individual qualities, e.G.[The specialit, Typically natural], The experienced, And the unique.These represent the high end of the fragrances spectrum, by way of[fresh original] pkg and bottle design. At manyGap depots, You will see that the icon fragrances, Namely the ones up there before we Took over the category have been modified and refreshed by us.Gap sTores can offer its cusTomers olfacTory and price choices from body mist, At the cheaper end, Eau de Toilettes in between, And this line called professionals at the higher end. At the end of summer, Three new men's aromas called Bold, Rised, And helium, Were published inGap adult sTores. We created and introduced a very high men'sGrooming and skin care collection, On the same.Perhaps some of you've seen the banana republic windows picturing the two additions to our discover collection called, malachite for ladies and cordovan for men.We in addition have added several scented candles for continued sales and the limited autumn season addition.Both equally, we must have a new winter seasonal candle in stores shortly. Of the last seasons, A Total of six differentGift sets will be available forGenders.We have enjoyed a very productive cooperation with new york company. The aggressive timeline was met and New York Company's 570 sTores will shortly display and sell a line called City Beauty with 30 bath and body SKU through holidayGift sets.Selling it to our european operations.Paul smith rose and our first roxy woman's fragrance were launched expertly.As we disclosed recently, for six burberry odor family;The beat will debut with all the women's scent in march 2008, followed in 2009 along with your men's version.ThereYet another new women's van cleef arpels scent, two more roxy women's smell, which is entitled"Take pleasure in"Yet"Strength, and a noticeably"Quicksilver"Natural skin care line, and the men's scented line in the pipeline.Dupont fragrance for many people. We continue To explore additional specialty retail businesses, Also licensing as a means To of course profitablyGrow our business.Having affirmed our 2007 counselling, we plan to announce our initial watch for 2008 later this month, mostly likely on december 28th.Also worth talking about, in live up too that inter parfums, received in september at the hba industry awards for recognizing creativity from program cosmetic news.Inter parfums won the award for its original and creative share to the cosmetic and fragrance xafs. Before taking your queries, Let meGive out some of our upcoming presentations.We are invited to deal with the bear stearns small and mid cap conference in new york, which can on november 14.At that point, towards december 12th, we'll be presenting at the wedbush morgan california dreamin' conference;And the accompanying month we will be at the cowen and company 6th annual consumer conference in new york, which runs from economy is shown 15th 16th, and we'll be at sidoti company, the palm beach achieving on january 26th.Produce your own.To see some of you at these events. Since likely our next conference call will be in March of next year, When I want To extend my best wishes To all of you for a joyous christmas season, And allGood things for one more year.
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