Company: IPAR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001753926-25-001236
Chunk: 48

Company: INTERPARFUMS INC
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 7
Chunk 48
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 sales of our European based operations are denominated in U.S. dollars, while almost all costs of our European based operations are incurred in euro. We address certain financial exposures through a controlled program of risk management that includes the use of derivative financial instruments and primarily enter into foreign currency forward exchange contracts to reduce the effects of fluctuating foreign currency exchange rates.

Recent Important Events
 
Please see our discussion of Recent Important Events, which is incorporated by reference to Note 2 to the Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
 
Discussion of Critical Accounting Policies
 
Information regarding our critical accounting policies can be found in our 2024 Annual Report on Form 10-K filed with the SEC.

Page 18

INTERPARFUMS, INC. AND SUBSIDIARIES

Results of Operations
 
Three and Six Months Ended June 30, 2025 as Compared to the Three and Six Months Ended June 30, 2024
 
Net Sales:

Three Months Ended

Six Months Ended

June 30,

June 30,

(in millions)
 
2025

2024

% Change

2025

2024

% Change

European based product sales
 
$
240.5

$
226.0

6
%

$
488.4

$
457.0

7
%

United States based product sales

95.8

120.2

(20)
%

190.1

216.0

12
%

Eliminations

(2.4
)

(4.0
)

n/a

(5.7
)

(6.8
)

n/a

$
333.9

$
342.2

(2)
%

$
672.8

$
666.2

1
%

*n/a = not applicable
 
Net sales for the three months ended June 30, 2025 decreased 2% from the three months ended June 30, 2024. Organic sales for the three months ended June 30, 2025, which exclude the impact of foreign exchange and the discontinuation of the Dunhill license, also decreased 2% compared to the prior year period. The average dollar/euro exchange rate for the current second quarter was 1.13 compared to 1.08 in the second quarter of 2024 resulting in an increase of net sales of 2% in the three months ended June 30, 202