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JEAN PHILIPPE FRAGRANCES REPORTS RECORD SALES AND EARNINGS FOR THE THIRD QUARTER 1991: SALES UP 30 PERCENT, NET INCOME UP 48 PERCENT

JEAN PHILIPPE FRAGRANCES REPORTS RECORD SALES AND EARNINGS FOR THE THIRD
      QUARTER 1991: SALES UP 30 PERCENT, NET INCOME UP 48 PERCENT
    NEW YORK, Nov. 14 /PRNewswire/ -- In announcing it first consolidated financial statements, which reflects its acquisition of Inter Parfums, S.A., Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN) reports record sales and earnings for the third quarter ended Sept. 30, 1991.  The results have been restated as if the acquisition of Inter Parfums had taken place on Jan. 1, 1990.
    Net sales for the quarter were $7,218,753, a 30 percent increase from sales of $5,534,469 for corresponding quarter of the prior year. Net income for the quarter ended Sept. 30, 1991 was $863,980 compared to $582,910, an increase of 48 percent.
    Sales for the nine months ended Sept. 30, 1991 were $17,505,341 compared to $13,409,293 in the corresponding period of the prior year, an increase of 30 percent.  Net income for the first nine months was $1,214,100 compared to $830,655, an increase of 46 percent.
    In announcing the results, Jean Madar, president and chief executive officer of Jean Philippe Fragrances, stated:  "It is extremely gratifying that the results for each of our divisions have demonstrated solid gains, both in sales and earnings:  Jean Philippe's alternative designer fragrance division has posted increased market penetration which has resulted in a 44 percent increase in sales for the first nine months of 1991, as compared to the same corresponding period of 1990. As anticipated, Jordache fragrances and cosmetics have performed very well with its roll out and strong reorders of its newly launched  Looks by Jordache' line.  Finally, the performance of our newly acquired French company, Inter Parfums, has lived up to our expectations in regards to enhancing our presence in the 50 countries where it currently markets such brands as Regines's."
                     JEAN PHILIPPE FRAGRANCES, INC.
                          Financial Highlights
    Periods ended           Three months               Nine months
     Sept. 30             1991       1990           1991         1990
    Net sales         $7,218,753  $5,534,469    $17,505,341  $13,409,293
    Net income           863,980     582,910      1,214,100      830,655
    Shares outstanding 4,875,912   4,426,786      4,114,199    4,005,734
    Earnings per share     $0.18       $0.14          $0.30        $0.21
    -0-         11/14/91
    /CONTACT:  Neil Fogel of Jean Philippe Fragrances, 212-983-2640/
    (JEAN) CO:  Jean Philippe Fragrances Inc. ST:  New York IN:  HOU SU:  ERN SM-SH -- NY034 -- 4366 11/14/91 11:05 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 14, 1991
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