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interparfums , inc . FOR IMMEDIATE RELEASE INTER PARFUMS , INC . REPORTS 2021 SECOND QUARTER RESULTS Compared to 2019 , 25 % Increase in Sales Produces 82 % Increase in EPS Exhibit 99.1 New York , New York , August 9 , 2021 : Inter Parfums , Inc. ( NASDAQ GS : IPAR ) today reported results for the second quarter ended June 30 , 2021. The average dollar / euro exchange rate for the current second quarter was 1.20 compared to 1.10 and 1.12 in the second quarter of 2020 and 2019 , respectively . Second Quarter Highlights : ( $ in millions , except per share data ) 2021 2020 Net Sales $ 207.6 $ 49.5 2019 $ 166.2 2021 v 2019 25 % Gross Margin 64 % 54 % 64 % -- Operating Income ( loss ) $ 44.7 $ ( 5.5 ) $ 22.5 99 % Operating Margin 22 % ( 11 ) % 14 % 800 bps Net Income ( loss ) attributable to IP $ 22.7 $ ( 3.1 ) $ 12.3 84 % Diluted EPS ( loss per share ) $ 0.71 $ ( 0.10 ) $ 0.39 82 % In light of the near cessation of business in the second quarter of 2020 , the Company is comparing its current midyear results with those of 2019. For the first half of 2021 , net sales rose 18 % to $ 406.1 million from $ 344.5 million in the same period of 2019. At comparable foreign currency exchange rates , net sales rose 16 % . Year - to - date net income attributable to Inter Parfums , Inc. rose 61 % to $ 50.3 million compared to 2019's $ 31.2 million . For the six months ended June 30 , 2021 and 2019 , diluted earnings per share were $ 1.58 and $ 0.99 , respectively , for an increase of 60 % . The average U.S. dollar / euro exchange rate was 1.20 and 1.13 for the six months ended June 30 , 2021 and 2019 , respectively . Jean Madar , Chairman & CEO of Inter Parfums , Inc. noted , “ Once again , last year's outbreak of the COVID - 19 pandemic and the business conditions that ensued make comparisons with the very depressed second quarter of 2020 mostly irrelevant . Far more meaningful is a comparison with the second quarter of 2019 and the operating leverage resulting from the nearly 25 % increase in net sales in 2021. " He continued , " Through the first half of 2021 , sales in our largest market , North America , rose 59 % compared to the same period in 2019 , while sales in Western Europe and Asia approximated those of the first half of 2019. Two of our smaller markets , Eastern Europe and Central and South America , experienced sales growth of 54 % and 10 % , respectively , over the first half of 2019. The only region where sales declined was the Middle East , by 23 % to be precise . Similarly , there has been growth of our four largest brands . In the first six months of 2021 , Montblanc , Jimmy Choo , Coach , and GUESS brand sales rose 3 % , 39 % 34 % and 58 % , respectively , compared to the first half of 2019. In the first half of 2019 , the debut of Montblanc Explorer caused a surge in brand sales , which helps explain the modest increase in Montblanc brand sales in the current first half . ”