Inter Parfums, Inc. (NASDAQ GS: IPAR) has reported results for the fourth quarter and year ended December 31, 2010.

The company says that from the fourth quarter 2010 compared to the fourth quarter 2009, net sales declined slightly to $112.4 million from $112.9 million; at comparable foreign currency exchange rates, net sales rose 6% for the period. European-based operations generated sales of $95.5 million, off modestly from $96.3 million.

Sales by U.S.-based operations were up 2% to $17.0 million from $16.6 million; Gross margin was 59.0% compared to 56.1%; S, G & A expense as a percentage of sales was 48% compared to 42%; Operating margins were 11.0% of net sales from 12.2% of net sales; Net income attributable to Inter Parfums, Inc. increased 14.5% to $6.2 million as compared to $5.5 million; and, Basic and diluted earnings per share increased 11.1% to $0.20 from $0.18.

Thus, net sales for the year ended December 31, 2010 increased 12.4% to a record $460.4 million from the prior year’s $409.5 million; in constant dollars, 2010 net sales rose 18%. Net income attributable to Inter Parfums, Inc. rose 18.9% to a record $26.6 million or $0.87 per diluted share from $22.4 million or $0.74 per diluted share in 2009.

Russell Greenberg, executive VP & CFO of Inter Parfums, states, “The economic rebound coupled with several major new product launches produced meaningful sales growth across all major prestige brands and in all geographic regions in 2010. For our U.S.-based operations, 2010 sales growth was also spurred by the economic recovery as well as new product launches and greater international distribution of the specialty retail brands for which we develop, produce and sell product.”

He adds, “The gross margin improvement for the fourth quarter and the year is primarily due to product mix within our European-based brand assortment, as sales of higher margin, larger sized products increased, while lower margin promotional sales, including gift with purchase items, decreased. Overall in 2010, the strength of the U.S. dollar relative to the euro provided a gross margin benefit approximating 2009’s use of foreign currency forward exchange contracts.”