Inter Parfums, Inc. (NASDAQ:IPAR) Q4 2022 Earnings Conference Call March 1, 2023 11:00 AM ET
Company Participants
Karin Daly - IR
Jean Madar - Chairman, CEO & Co-Founder
Michel Atwood - CFO & Director
Conference Call Participants
Linda Bolton-Weiser - D.A. Davidson & Co.
Korinne Wolfmeyer - Piper Sandler & Co.
Hamed Khorsand - BWS Financial
Operator
Greetings, and welcome to the Inter Parfums 2022 Fourth Quarter and Year-end Conference Call and Webcast. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Karin Daly, Inter Parfums' Investor Relations Representative and President and Vice President at The Equity Group. Thank you. You may begin.
Karin Daly
Thank you, Doug. On behalf of the company, I would like to note that this conference call may contain forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from projected results. These factors may be found in the company's filings with the Securities and Exchange Commission under the heading Forward-Looking Statements and Risk Factors in their most recent annual report on Form 10-K.
Forward-looking statements speak only as of the date on which they are made, and Inter Parfums Inc. undertakes no obligation to update the information discussed. It is now my pleasure to turn the call over to Mr. Jean Madar, Chairman and Chief Executive Officer of Inter Parfums. Jean, you may begin.
Jean Madar
Thank you, Karin. Good morning, everyone, and thank you for participating in today's call. I will start the ball rolling and later, you will hear from Michel Atwood, our CFO, who has been with us now for 6 months. For anyone new to Inter Parfums, keep in mind that when we refer to our European-based operations, we are talking about our 72% owned French subsidiary called Interparfums SA. And when we refer to our U.S.-based operations, we are talking about our wholly owned domestic subsidiaries.
2022 will always be remembered as the year we topped $1 billion in net sales. In 2022, our sales reached $1.087 billion to be exact, resulting in diluted EPS of $3.78 a record year marked by a 24% increase in net sales and a 38% increase in earnings per share. 2022 will also be remembered as the year Donna Karan and DKNY fragrances joined our portfolio as the first full year producing and selling Ferragamo fragrance and also the first full year that our Italian office was operational.