Inter Parfums Q4 sales blow past expectations

Inter Parfums Inc's fourth-quarter sales trounced Wall Street expectations as the sales of its Burberry brand of fragrance nearly doubled in Europe.

Sales in the fourth quarter rose 68 percent to $189.1 million, well ahead of analysts' expectations of $145.1 million according to Thomson Reuters I/B/E/S.

The company said Burberry fragrance sales rose 96 percent in local currency terms in Europe.

Inter Parfums, which also sells brands such as Lanvin, Jimmy Choo, Van Cleef & Arpels, also backed its 2012 outlook of earning $1.16 a share on sales of $625 million.

Analysts expect the company to earn $1.18 a share on sales of $629.2 million in 2012.

Shares of the New York-based company closed at $16.74 on Tuesday on Nasdaq.