Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related
Stockholder Matters and Issuer Purchases of Equity Securities
The Market for Our Common Stock
Our Company’s common stock, $.001
par value per share, is traded on The Nasdaq Global Select Market under the symbol “IPAR”. The following table sets
forth in dollars, the range of high and low closing prices for the past two fiscal years for our common stock.
Fiscal 2020
High Closing Price
Low Closing Price
Fourth Quarter
61.08
36.63
Third Quarter
49.40
36.46
Second Quarter
51.68
37.63
First Quarter
75.00
34.20
Fiscal 2019
High Closing Price
Low Closing Price
Fourth Quarter
81.40
66.65
Third Quarter
71.58
62.38
Second Quarter
77.34
63.53
First Quarter
80.99
58.50
As of February 10, 2021, the number of record
holders, which include brokers and broker nominees, etc., of our common stock was 34. We believe there are approximately 10,600
beneficial owners of our common stock.
Corporate Performance Graph
The following graph compares the performance
for the periods indicated in the graph of our common stock with the performance of the Nasdaq Market Index and the average performance
of a group of the Company’s peer corporations consisting of: Avon Products Inc., CCA Industries, Inc., Colgate-Palmolive
Co., Estée Lauder Companies, Inc., Inter Parfums, Inc., Kimberly Clark Corp., Natural Health Trends Corp., Procter &
Gamble Co., Revlon, Inc., Spectrum Brands Holdings, Inc., Stephan Co., Summer Infant, Inc. and United Guardian, Inc. The graph
assumes that the value of the investment in our common stock and each index was $100 at the beginning of the period indicated in
the graph, and that all dividends were reinvested.
25
Below is the list of the data points for
each year that corresponds to the lines on the above graph.
12/15
12/16
12/17
12/18
12/19
12/20
Inter Parfums, Inc.
100.00
140.26
189.45
290.48
327.44
274.22
NASDAQ Composite
100.00
108.87
141.13
137.12
187.44
271.64
Peer Group
100.00
104.30
120.74
119.69
162.97
188.69
Dividends
In October 2019, our Board of Directors
authorized a 20% increase in the annual dividend to $1.32 per share on an annual basis. In April 2020, as a result of the uncertainties
raised by the COVID-19 pandemic, the Board of Directors authorized a temporary suspension of the annual cash dividend. In February
2021, our Board of Directors authorized a reinstatement of an annual dividend of $1.00, payable quarterly. The next quarterly cash
dividend of $0.25 per share is payable on March 31, 2021 to shareholders of record on March 15, 2021.
Sales of Unregistered Securities
In December 2020, our non-employee directors
exercised stock options to purchase an aggregate of 1,500 shares of restricted common stock. These transactions were exempt from
the registration requirements of Section 5 of the Securities Act under Sections 4(2) and 4(6) of the Securities Act. Each option
holder agreed that, if the option is exercised, the option holder would purchase his or her common stock for investment and not
for resale to the public. Also, we provide all option holders with all reports we file with the SEC and press releases issued by
us.
Item 6. Selected Financial Data
The following selected financial data have
been derived from our financial statements and should be read in conjunction with those financial statements, including the related
footnotes.
Years Ended December 31,
(In thousands except per share data)
2020
2019
2018
2017
2016
Income statement data:
Net sales
$ 539,009
$ 713,514
$ 675,574
$ 591,251
$ 521,072
Cost of sales
208,278
267,578
248,012
214,965
194,601
Selling, general and administrative expenses
260,648
341,209
332,831
295,540
258,787
Operating income
70,083
104,727
94,731
78,623
66,678
Income before taxes
69,349
105,146
95,859
78,065
67,074
Net income attributable to the noncontrolling interest
11,749
15,821
15,922
13,659
9,917
Net income attributable to Inter Parfums, Inc.
38,219
60,249
53,793
41,594
33,331
Net income attributable to Inter Parfums, Inc. common shareholders per share:
Basic
$ 1.21
$ 1.92
$ 1.72
$ 1.33
$ 1.07
Diluted
$ 1.21
$ 1.90
$ 1.71
$ 1.33
$ 1.07
Weighted average common shares outstanding:
Basic
31,537
31,451
31,308
31,172
31,072
Diluted
31,655
31,689
31,522
31,305
31,176
Depreciation and amortization
$ 9,067
$ 8,729
$ 11,031
$ 11,914
$ 15,341
26
As at December 31,
(In thousands except per share data)
2020
2019
2018
2017
2016
Balance sheet and other data:
Cash and cash equivalents
$ 169,681
$ 138,417
$ 193,136
$ 208,343
$ 161,828
Short-term investments
126,627
119,714
67,870
69,899
94,202
Working capital
444,515
388,831
382,425
382,171
337,977
Total assets
890,145
828,832
797,829
777,772
682,409
Short-term bank debt
-0-
-0-
-0-
-0-
-0-
Long-term debt (including current portion)
24,706
23,060
46,061
60,579
74,562
Lease liabilities (including current portion)
26,487
29,991
-0-
-0-
-0-
Inter Parfums, Inc. shareholders’ equity
535,836
468,006
447,607
433,298
370,391
Dividends declared per share
$ 0.33
$ 1.155
$ 0.905
$ 0.72
$ 0.62