Inter Parfums Inc (IPAR) Q4 2019 Earnings Call Transcript

Inter Parfums Inc (IPAR) Q4 2019 Earnings Call Transcript

Greetings and welcome to the Inter Parfums Fourth Quarter and Year-End 2019 Conference Call.. It is now my pleasure to introduce your host, Russell Greenberg, Executive Vice President and Chief Financial Officer.. Good morning and welcome to our 2019 fourth quarter and year-end conference call.. When we refer to our European-based operations, we are primarily talking about sales of prestige fragrance products conducted through our 73% owned French subsidiary Interparfums SA.. The average dollar/euro exchange rate for the 2019 fourth quarter was $1.11 compared to $1.14 in the fourth quarter of 2018.. The difference for the full year is over 5% as the average dollar/euro exchange rates were $1.12 and $1.18 for the 2019 and 2018, respectively.. With regard to the final quarter of 2019 as compared to 2018, net sales were $177.8 million, up 0.3% from $177.2 million.. Net sales by European-based operations decreased 4.2% to $129.1 million from $134.8 million and net sales by US-based operations came in at $48.7 million, up 14.7% compared to $42.4 million.. Net income attributable to Inter Parfums per diluted share was $0.26 for both periods.. So for the year ended -- for the full year ended December 31, 2019, net sales totaled