Company: IPAR
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001753926-25-000738
Chunk: 9

Company: INTERPARFUMS INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 9
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 and 25.0% for the three months ended March 31, 2025 and 2024, respectively, while the effective tax rate for United States based operations was 18.1% for the three months ended March 31, 2025, as compared to 17.7% for the corresponding period of the prior year. Our effective tax rate for United States based operations differs from the 21% statutory rate in the United States as it is a blended rate across multiple jurisdictions, and takes into account benefits received from the exercise of stock options as well as deductions we are allowed for a portion of our foreign derived intangible income, slightly offset by state and local taxes. Other than as discussed above, we did not experience any significant changes in tax rates, and none were expected in jurisdictions where we operate.

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INTERPARFUMS, INC. AND SUBSIDIARIES

Net Income

Three Months Ended

    (In thousands)

March 31,

2025

2024

Net income attributable to European based operations
 
$
48,119

$
44,940

Net income attributable to United States based operations

8,668

9,527

Eliminations

(1,384
)

(1,164
) 

Net income

55,403

53,303

Less: Net income attributable to the noncontrolling interest

12,911

12,255

Net income attributable to Interparfums, Inc.
 
$
42,492

$
41,048

Net income attributable to Interparfums, Inc. was $42.5 million for the three months ended March 31, 2025 as compared to $41.0 million for the corresponding period of the prior year.

Net income attributable to European based operations was $48.1 million for the three months ended March 31, 2025, as compared to $44.9 million for the corresponding periods of the prior year, while net income attributable to United States based operations was $8.7 million for the three months ended March 31, 2025, as compared to $9.5 million for the corresponding periods of the prior year. The significant fluctuations in net income for both European based operations and United States based operations are directly related to the previous discussions pertaining to changes in sales, gross margin, and selling, general and administrative expenses.

The noncontrolling interest arises from our 72% owned subsidiary in Paris