<SEC-DOCUMENT>0001753926-25-001238.txt : 20250805
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<ACCEPTANCE-DATETIME>20250805165325
ACCESSION NUMBER:		0001753926-25-001238
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20250805
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20250805
DATE AS OF CHANGE:		20250805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERPARFUMS INC
		CENTRAL INDEX KEY:			0000822663
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				133275609
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16469
		FILM NUMBER:		251185799

	BUSINESS ADDRESS:	
		STREET 1:		551 FIFTH AVE
		STREET 2:		STE 1500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176
		BUSINESS PHONE:		2129832640

	MAIL ADDRESS:	
		STREET 1:		551 FIFTH AVENUE
		STREET 2:		STE 1500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTER PARFUMS INC
		DATE OF NAME CHANGE:	19990715

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JEAN PHILIPPE FRAGRANCES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<p style="margin: 0pt 0pt 3pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">UNITED STATES</span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Washington, D.C. 20549</span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2 below):</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></p>













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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%">
<tbody>
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<td style="vertical-align: top; width: 3%;">
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></p>













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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%">
<tbody>
<tr>
<td style="vertical-align: top; width: 3%;">
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<td style="vertical-align: top; width: 97%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></p>













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</tbody>













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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%">
<tbody>
<tr>
<td style="vertical-align: top; width: 3%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Segoe UI Symbol'; font-size: 10pt;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" contextRef="D20250805" format="ixt-sec:boolballotbox" id="Tag18">&#9744;</ix:nonNumeric></span></p>













</td>
<td style="vertical-align: top; width: 97%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></p>













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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</span></p>
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<td style="vertical-align: bottom; width: 34%; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Title of each class</span></p>













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<td style="vertical-align: bottom; width: 1%; height: 34px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 12pt;">&#160;</span></p>













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<td style="vertical-align: bottom; width: 33%; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Trading Symbol(s)</span></p>













</td>
<td style="vertical-align: bottom; width: 1%; height: 34px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 12pt;">&#160;</span></p>













</td>
<td style="vertical-align: bottom; width: 31%; border-bottom: 1pt solid #000000; height: 34px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Name of each exchange </span><br/><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">on which registered</span></p>













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<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













</td>













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<tr style="height: 17px;">
<td style="background-color: #cceeff; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="border-left: none; border-right: none;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" contextRef="D20250805" id="Tag21">Common Stock, $.001 par value per share</ix:nonNumeric></span></span></p>













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<td style="background-color: #cceeff; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













</td>
<td style="background-color: #cceeff; vertical-align: top; height: 17px;">
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<td style="background-color: #cceeff; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













</td>
<td style="background-color: #cceeff; vertical-align: top; height: 17px;">
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </span><span style="font-family: 'Segoe UI Symbol'; font-size: 10pt;">&#9744;</span></p>
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<div class="pageBreak" style="page-break-before: always;"><a href="#TOC"></a><br/></div>





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<p style="margin: 0pt;"><br/></p>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Item </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">2.02</span> <span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Results of Operations and Financial Conditions </span></p>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt; text-indent: 36pt; line-height: 1.2;">Certain portions of our press release dated August 5, 2025, a copy of which is annexed hereto as Exhibit&#160;no. 99.1, are incorporated by reference herein, and are filed pursuant to this Item 2.02. They are as follows:</p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The 1</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super; line-height: inherit;">st</span><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">, 2</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super; line-height: inherit;">nd</span><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> (consisting of a table),&#160;4<sup>th</sup> , 5<sup>th</sup> , 8<sup>th</sup> through 12<sup><span style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">th</span></sup>&#160;full paragraphs relating to results of&#160;operations for the second quarter of 2025</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Part of the 3<sup>rd</sup> paragraph relating to results of operations for the second quarter of 2025</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The 13<sup>th</sup> paragraph relating to balance sheet items, cash flow, inventory and supply chain</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The 17<sup>th</sup> through 22<sup>nd</sup> paragraphs relating to the previously announced conference call scheduled for August 6, 2025</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The consolidated statements of income and consolidated balance sheets&#160;</span></li>












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<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Item 7.01 Regulation FD Disclosure </span></p>
<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt; text-indent: 36pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Certain portions of our press release dated August 5, 2025, a copy of which is annexed hereto as&#160;Exhibit no. 99.1, are incorporated by reference herein, and are filed pursuant to this Item 7.01. They are as follows:&#160;</span></p>
<ul>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Portion of the 3<sup>rd</sup> paragraph relating to anticipating headwinds for the remainder of the year, along&#160;with an action plan to hopefully overcome said headwinds</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The 6<sup>th</sup> paragraph relating to the previously announced license agreements for Longchamp, Off- White and Goutal, as well as the Solferino flagship store opening next month in Paris</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The 7<sup>th</sup> paragraph relating to the potential impact of tariffs, recent pricing strategies, upcoming fragrance launches and foreign exchange tailwinds on the Company as it enters the second half of 2025</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The 14<sup>th</sup> and 15<sup>th</sup> paragraphs relating to reaffirmance of the previously announced 2025 guidance for the Company</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 0pt 63.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The balance of such press release not otherwise incorporated by reference in Item 2.02.</span>&#160;</li>












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<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration: underline; float: none; display: inline !important;">Item 8.01&#160;Other Events</span></span></p>
<ul style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">
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<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Item </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">0</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">1</span> <span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Financial Statements and Exhibits</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">.</span></p>
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<td style="height: 17px; width: 3%; background-color: #cceeff;"><a href="ex991_1.htm" style="-sec-extract:exhibit"><span style="font-size: 10pt;">99.1</span></a></td>
<td style="height: 17px; width: 97%; background-color: #cceeff;"><a href="ex991_1.htm" style="-sec-extract:exhibit">Our press release dated August 5, 2025</a></td>









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<p style="margin: 0pt;"><br/></p>
<p style="margin: 0pt; text-align: center; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURES</span></p>
<p style="margin: 0pt; text-align: center; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 36pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.</span></p>
<p style="margin: 0pt; text-indent: 36pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Dated: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">August 5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2025</span></p>
<p style="margin: 0pt; line-height: 1.2;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: top;" colspan="2">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Inter</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">p</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">arfums, Inc.</span></p>













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<td style="vertical-align: top;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













</td>
<td style="vertical-align: top; width: 2%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">By:</span></p>













</td>
<td style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; vertical-align: top; width: 35%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ Michel Atwood</span></p>













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<tr>
<td style="vertical-align: top;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: top;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<td style="vertical-align: top;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Michel Atwood,</span></p>













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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 12pt;">&#160;</span></p>













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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>













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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Chief Financial Officer</span></p>













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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" xlink:title="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CityAreaCode" xlink:title="Presentation : dei_CoverAbstract to dei_CityAreaCode" use="optional" priority="9" order="12" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" xlink:title="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_LocalPhoneNumber" xlink:title="Presentation : dei_CoverAbstract to dei_LocalPhoneNumber" use="optional" priority="9" order="13" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" xlink:title="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_WrittenCommunications" xlink:title="Presentation : dei_CoverAbstract to dei_WrittenCommunications" use="optional" priority="9" order="14" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" xlink:title="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SolicitingMaterial" xlink:title="Presentation : dei_CoverAbstract to dei_SolicitingMaterial" use="optional" priority="9" order="15" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" xlink:title="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementTenderOffer" xlink:title="Presentation : dei_CoverAbstract to dei_PreCommencementTenderOffer" use="optional" priority="9" order="16" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" xlink:title="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementIssuerTenderOffer" xlink:title="Presentation : dei_CoverAbstract to dei_PreCommencementIssuerTenderOffer" use="optional" priority="9" order="17" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:title="dei_Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_Security12bTitle" xlink:title="Presentation : dei_CoverAbstract to dei_Security12bTitle" use="optional" priority="9" order="18" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:title="dei_TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_TradingSymbol" xlink:title="Presentation : dei_CoverAbstract to dei_TradingSymbol" use="optional" priority="9" order="19" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xlink:title="dei_SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SecurityExchangeName" xlink:title="Presentation : dei_CoverAbstract to dei_SecurityExchangeName" use="optional" priority="9" order="20" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:title="dei_EntityEmergingGrowthCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityEmergingGrowthCompany" xlink:title="Presentation : dei_CoverAbstract to dei_EntityEmergingGrowthCompany" use="optional" priority="9" order="21" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>4
<FILENAME>ipar-20250805_cal.xml
<DESCRIPTION>CALCULATION
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by Genesis Filings LLC, Powered by IRIS Carbon, Unique Code 68926d0717d102242cf1e0c4, Generated At Tue, 05 Aug 2025 20:43:57 GMT-->
<link:linkbase xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.interparfumsinc.com/role/Cover" xlink:type="simple" xlink:href="ipar-20250805.xsd#Cover" />
  <link:calculationLink xlink:type="extended" xlink:role="http://www.interparfumsinc.com/role/Cover" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>ipar-20250805_lab.xml
<DESCRIPTION>LABEL
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by Genesis Filings LLC, Powered by IRIS Carbon, Unique Code 68926d0717d102242cf1e0c4, Generated At Tue, 05 Aug 2025 20:43:57 GMT-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract" xlink:label="CoverAbstract" xlink:title="CoverAbstract" />
    <link:label xlink:type="resource" xlink:label="label_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CoverAbstract" xml:lang="en-US" id="label_CoverAbstract">Cover [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CoverAbstract" xlink:to="label_CoverAbstract" xlink:title="Label : CoverAbstract to label_CoverAbstract" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentType" xml:lang="en-US" id="label_DocumentType">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="label_DocumentType" xlink:title="Label : DocumentType to label_DocumentType" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="label_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmendmentFlag" xml:lang="en-US" id="label_AmendmentFlag">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="label_AmendmentFlag" xlink:title="Label : AmendmentFlag to label_AmendmentFlag" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="label_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentPeriodEndDate" xml:lang="en-US" id="label_DocumentPeriodEndDate">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="label_DocumentPeriodEndDate" xlink:title="Label : DocumentPeriodEndDate to label_DocumentPeriodEndDate" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber" xlink:label="EntityFileNumber" xlink:title="EntityFileNumber" />
    <link:label xlink:type="resource" xlink:label="label_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityFileNumber" xml:lang="en-US" id="label_EntityFileNumber">Entity File Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFileNumber" xlink:to="label_EntityFileNumber" xlink:title="Label : EntityFileNumber to label_EntityFileNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="label_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityRegistrantName" xml:lang="en-US" id="label_EntityRegistrantName">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="label_EntityRegistrantName" xlink:title="Label : EntityRegistrantName to label_EntityRegistrantName" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="label_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCentralIndexKey" xml:lang="en-US" id="label_EntityCentralIndexKey">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="label_EntityCentralIndexKey" xlink:title="Label : EntityCentralIndexKey to label_EntityCentralIndexKey" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityTaxIdentificationNumber" xlink:label="EntityTaxIdentificationNumber" xlink:title="EntityTaxIdentificationNumber" />
    <link:label xlink:type="resource" xlink:label="label_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityTaxIdentificationNumber" xml:lang="en-US" id="label_EntityTaxIdentificationNumber">Entity Tax Identification Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityTaxIdentificationNumber" xlink:to="label_EntityTaxIdentificationNumber" xlink:title="Label : EntityTaxIdentificationNumber to label_EntityTaxIdentificationNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
    <link:label xlink:type="resource" xlink:label="label_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityIncorporationStateCountryCode" xml:lang="en-US" id="label_EntityIncorporationStateCountryCode">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityIncorporationStateCountryCode" xlink:to="label_EntityIncorporationStateCountryCode" xlink:title="Label : EntityIncorporationStateCountryCode to label_EntityIncorporationStateCountryCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressAddressLine1" xml:lang="en-US" id="label_EntityAddressAddressLine1">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine1" xlink:to="label_EntityAddressAddressLine1" xlink:title="Label : EntityAddressAddressLine1 to label_EntityAddressAddressLine1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressCityOrTown" xml:lang="en-US" id="label_EntityAddressCityOrTown">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCityOrTown" xlink:to="label_EntityAddressCityOrTown" xlink:title="Label : EntityAddressCityOrTown to label_EntityAddressCityOrTown" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressStateOrProvince" xml:lang="en-US" id="label_EntityAddressStateOrProvince">Entity Address, State or Province</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressStateOrProvince" xlink:to="label_EntityAddressStateOrProvince" xlink:title="Label : EntityAddressStateOrProvince to label_EntityAddressStateOrProvince" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressPostalZipCode" xml:lang="en-US" id="label_EntityAddressPostalZipCode">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressPostalZipCode" xlink:to="label_EntityAddressPostalZipCode" xlink:title="Label : EntityAddressPostalZipCode to label_EntityAddressPostalZipCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
    <link:label xlink:type="resource" xlink:label="label_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CityAreaCode" xml:lang="en-US" id="label_CityAreaCode">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CityAreaCode" xlink:to="label_CityAreaCode" xlink:title="Label : CityAreaCode to label_CityAreaCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="label_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LocalPhoneNumber" xml:lang="en-US" id="label_LocalPhoneNumber">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="label_LocalPhoneNumber" xlink:title="Label : LocalPhoneNumber to label_LocalPhoneNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_WrittenCommunications" xlink:label="WrittenCommunications" xlink:title="WrittenCommunications" />
    <link:label xlink:type="resource" xlink:label="label_WrittenCommunications" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WrittenCommunications" xml:lang="en-US" id="label_WrittenCommunications">Written Communications</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WrittenCommunications" xlink:to="label_WrittenCommunications" xlink:title="Label : WrittenCommunications to label_WrittenCommunications" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SolicitingMaterial" xlink:label="SolicitingMaterial" xlink:title="SolicitingMaterial" />
    <link:label xlink:type="resource" xlink:label="label_SolicitingMaterial" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SolicitingMaterial" xml:lang="en-US" id="label_SolicitingMaterial">Soliciting Material</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SolicitingMaterial" xlink:to="label_SolicitingMaterial" xlink:title="Label : SolicitingMaterial to label_SolicitingMaterial" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementTenderOffer" xlink:label="PreCommencementTenderOffer" xlink:title="PreCommencementTenderOffer" />
    <link:label xlink:type="resource" xlink:label="label_PreCommencementTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreCommencementTenderOffer" xml:lang="en-US" id="label_PreCommencementTenderOffer">Pre-commencement Tender Offer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreCommencementTenderOffer" xlink:to="label_PreCommencementTenderOffer" xlink:title="Label : PreCommencementTenderOffer to label_PreCommencementTenderOffer" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="PreCommencementIssuerTenderOffer" xlink:title="PreCommencementIssuerTenderOffer" />
    <link:label xlink:type="resource" xlink:label="label_PreCommencementIssuerTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreCommencementIssuerTenderOffer" xml:lang="en-US" id="label_PreCommencementIssuerTenderOffer">Pre-commencement Issuer Tender Offer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreCommencementIssuerTenderOffer" xlink:to="label_PreCommencementIssuerTenderOffer" xlink:title="Label : PreCommencementIssuerTenderOffer to label_PreCommencementIssuerTenderOffer" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
    <link:label xlink:type="resource" xlink:label="label_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Security12bTitle" xml:lang="en-US" id="label_Security12bTitle">Title of 12(b) Security</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Security12bTitle" xlink:to="label_Security12bTitle" xlink:title="Label : Security12bTitle to label_Security12bTitle" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="label_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradingSymbol" xml:lang="en-US" id="label_TradingSymbol">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingSymbol" xlink:to="label_TradingSymbol" xlink:title="Label : TradingSymbol to label_TradingSymbol" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
    <link:label xlink:type="resource" xlink:label="label_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecurityExchangeName" xml:lang="en-US" id="label_SecurityExchangeName">Security Exchange Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecurityExchangeName" xlink:to="label_SecurityExchangeName" xlink:title="Label : SecurityExchangeName to label_SecurityExchangeName" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany" xlink:label="EntityEmergingGrowthCompany" xlink:title="EntityEmergingGrowthCompany" />
    <link:label xlink:type="resource" xlink:label="label_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityEmergingGrowthCompany" xml:lang="en-US" id="label_EntityEmergingGrowthCompany">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityEmergingGrowthCompany" xlink:to="label_EntityEmergingGrowthCompany" xlink:title="Label : EntityEmergingGrowthCompany to label_EntityEmergingGrowthCompany" />
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>6
<FILENAME>ipar-20250805.xsd
<DESCRIPTION>SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by Genesis Filings LLC, Powered by IRIS Carbon, Unique Code 68926d0717d102242cf1e0c4, Generated At Tue, 05 Aug 2025 20:43:57 GMT-->
<xsd:schema xmlns:us-roles="http://fasb.org/us-roles/2025" xmlns:us-types="http://fasb.org/us-types/2025" xmlns:dei="http://xbrl.sec.gov/dei/2025" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:ipar="http://www.interparfumsinc.com/20250805" elementFormDefault="qualified" attributeFormDefault="unqualified" targetNamespace="http://www.interparfumsinc.com/20250805">
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="ipar-20250805_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="ipar-20250805_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="ipar-20250805_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="ipar-20250805_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:roleType roleURI="http://www.interparfumsinc.com/role/Cover" id="Cover">
        <link:definition>001 - Document - Cover</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:import namespace="http://fasb.org/us-roles/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-roles-2025.xsd" />
  <xsd:import namespace="http://fasb.org/us-types/2025" schemaLocation="https://xbrl.fasb.org/us-gaap/2025/elts/us-types-2025.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2025" schemaLocation="https://xbrl.sec.gov/dei/2025/dei-2025.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/XLink" schemaLocation="http://www.xbrl.org/2003/xl-2003-12-31.xsd" />
  <xsd:import namespace="http://www.w3.org/1999/xlink" schemaLocation="http://www.xbrl.org/2003/xlink-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2006/ref" schemaLocation="http://www.xbrl.org/2006/ref-2006-02-27.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" />
  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>7
<FILENAME>ex991_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html><head><title></title><meta content="text/html"></meta></head><body><div class="content_container"><div style="font-family: 'times new roman', times; font-size: 10pt;" id="D50y0tyb1xhh9rzgsr432xg">
<div style="margin: 0pt 0pt 0pt 9pt; border: 0.75pt solid #ffffff;">
<p style="margin: 0pt; text-indent: -9pt; text-align: right;"><font style="font-weight: bold; font-size: 10pt;">Exhibit <font>99.1</font></font></p>


 </div>
<div style="mso-element: para-border-div; border: solid white 1.0pt; mso-border-alt: solid white .75pt; padding: 0in 0in 0in 0in;">
<p align="center" style="margin: 0in 0in 0in 9pt; text-align: center; text-indent: -9pt; border: none; padding: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"><font style="mso-no-proof: yes;"><img src="c50b79a9549cc22dd45c.jpg" alt="P1#yIS1" style="height:29;width:299;"></font><b><u></u></b></font></p>
<p align="center" style="margin: 0in 0in 0in 9pt; text-align: center; text-indent: -9pt; border: none; padding: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><br></p>
<p align="center" style="margin: 0in 0in 0in 9pt; text-align: center; text-indent: -9pt; border: none; padding: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><u>FOR IMMEDIATE RELEASE</u></b></font></p>
<p align="center" style="text-align: center; border: none; padding: 0in; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><br></p>


 </div>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><u>INTERPARFUMS, INC. REPORTS <font>2025</font> SECOND QUARTER AND HALF YEAR RESULTS</u></b></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><br></p>
<p align="center" style="margin: 0in; text-align: center; break-after: avoid; font-size: 10pt; font-family: 'Arial Narrow', sans-serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;"><i><font style="line-height: inherit;">Reaffirms <font>2025</font> Sales and Earnings Guidance </font></i></b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><br></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">New York, New York, August 5, 2025, Interparfums, Inc. (NASDAQ GS: IPAR) today reported results for the second quarter and six months ended June 30, 2025.</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</font></p>
<div align="center" style="line-height: 1.2;">
<div id="t_ft_9O553Q6LYO00000000000000000000b">
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="height: 156px; width: 100%; border-collapse: collapse; border: none; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;">

<tr style="height: 10px;">
<td rowspan="2" valign="top" style="width: 221.771px; border-image: initial; padding: 0in 5.4pt; height: 20px; border-width: 1pt; border-color: windowtext !important; border-style: solid;">
<p style="margin: 0in; text-align: justify; break-after: auto; font-size: 10pt; font-family: 'Arial Narrow', sans-serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="line-height: inherit;">Financial Highlights: </font></b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>($ in millions, except per share amounts)</i><i></i></font></p>


 </td>
<td colspan="3" valign="top" style="width: 238.219px; border-image: initial; padding: 0in 5.4pt; height: 10px; border-width: 1pt; border-color: windowtext !important; border-style: solid;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>Three Months Ended</b></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>June 30,</b><b></b></font></p>


 </td>
<td colspan="3" valign="top" style="width: 213.552px; border-image: initial; padding: 0in; height: 10px; border-width: 1pt; border-color: windowtext !important; border-style: solid;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>Six Months Ended</b></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>June 30,</b><b></b></font></p>


 </td>


 </tr>
<tr style="height: 10px;">
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font>2025</font></b><b></b></font></p>


 </td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font>2024</font></b><b></b></font></p>


 </td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>% Change</b><b></b></font></p>


 </td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font>2025</font></b><b></b></font></p>


 </td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font>2024</font></b><b></b></font></p>


 </td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>% Change</b><b></b></font></p>


 </td>


 </tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="width: 221.771px; border-image: initial; border-top: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important; border-left-width: 1pt; border-left-style: solid; border-left-color: windowtext !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> Net Sales </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>334</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>342</font> </font></p>


</td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>2</font>%) </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>673</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>666</font> </font></p>


</td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> +<font>1</font>% </font></p>


</td>


 </tr>
<tr style="height: 16px;">
<td style="width: 221.771px; border-image: initial; border-top: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important; border-left-width: 1pt; border-left-style: solid; border-left-color: windowtext !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> Gross Margin </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>66.2</font>% </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>64.5</font>% </font></p>


</td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> +<font>170</font> bps </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>65.0</font>% </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>63.5</font>% </font></p>


</td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> +<font>150</font> bps </font></p>


</td>


 </tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="width: 221.771px; border-image: initial; border-top: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important; border-left-width: 1pt; border-left-style: solid; border-left-color: windowtext !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> Operating Income </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>59</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>65</font> </font></p>


</td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>9</font>%) </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>134</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>133</font> </font></p>


</td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> +<font>1</font>% </font></p>


</td>


 </tr>
<tr style="height: 16px;">
<td style="width: 221.771px; border-image: initial; border-top: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important; border-left-width: 1pt; border-left-style: solid; border-left-color: windowtext !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> Operating Margin </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>17.7</font>% </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>18.9</font>% </font></p>


</td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>120</font>) bps </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>20.0</font>% </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> <font>19.9</font>% </font></p>


</td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> +<font>10</font> bps </font></p>


</td>


 </tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="width: 221.771px; border-image: initial; border-top: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important; border-left-width: 1pt; border-left-style: solid; border-left-color: windowtext !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> Net Income attributable to Interparfums, Inc. </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>32</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>37</font> </font></p>


</td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>13</font>%) </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>74</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>78</font> </font></p>


</td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 16px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>4</font>%) </font></p>


</td>


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<td style="width: 221.771px; border-image: initial; border-top: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important; border-left-width: 1pt; border-left-style: solid; border-left-color: windowtext !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> Diluted EPS </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>0.99</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>1.14</font> </font></p>


</td>
<td style="width: 75.2812px; border-top: none; border-left: none; padding: 0in 5.4pt; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>13</font>%) </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>2.32</font> </font></p>


</td>
<td style="width: 65.7396px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> $<font>2.41</font> </font></p>


</td>
<td style="width: 79.4062px; border-top: none; border-left: none; padding: 0in; height: 16px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: windowtext !important; border-right-width: 1pt; border-right-style: solid; border-right-color: windowtext !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"> (<font>4</font>%) </font></p>


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<td colspan="7" style="width: 690.604px; border-image: initial; padding: 8px 7px 0px; height: 40px; border-width: 1pt; border-style: solid; border-color: windowtext !important;">
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>The average dollar/euro exchange rate for the <font>2025</font> second quarter was <font>1.13</font> compared to <font>1.08</font> in the <font>2024</font> second quarter, while for the first <font>six</font> months of <font>2025</font>, the average dollar/euro exchange rate was <font>1.09</font> compared to <font>1.08</font> in the first <font>six</font> months of <font>2024</font>, leading to a positive <font>2.0</font>% and <font>0.4</font>% foreign exchange impact on net sales for the second quarter and first <font>six</font> months of <font>2025</font>, respectively.</i></font></p>


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<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>&#160;</b></font></p>
<p style="text-align: justify; margin: 0pt; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>Operational Commentary</b></font></p>
<p style="text-align: justify; margin: 0pt; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Jean Madar, Chairman &amp; Chief Executive Officer of Interparfums, noted, &#8220;Demand in the United States, which accounted for <font>35</font>% of our second quarter net sales, remains strong, even as growth in the global fragrance market has begun to ease off. We are confident in our ability to navigate this environment thanks to the strength of our brand portfolio and our global network of distributors and retail partners, which give us access to a wide range of consumers across markets. While second quarter results were affected, and we anticipate that some of these headwinds will persist into the second half of the year, our proactive and timely actions position us to fully resolve these challenges in <font>2026</font>. </font></p>
<p style="text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; margin: 10pt 0pt; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#8220;Our <font>two</font> largest markets, North America and Western Europe, grew sales by <font>7</font>% and <font>3</font>% on a year-to-date basis. Asia-Pacific fragrance sales were down <font>12</font>% for the first half, with the decline primarily due to last year&#8217;s exceptional sales in Australia and distribution disruptions in South Korea in the current year while the overall trend remains positive in China and Japan. </font></p>
<p style="margin: 0pt; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8220;Central &amp; South America sales increased <font>7</font>% during the first <font>six</font> months, propelled by the strong performance of Lacoste fragrances and healthy market growth. Sales in Eastern Europe were up <font>14</font>% as compared to the first half of <font>2024</font>, where we faced temporary sourcing constraints. The Middle East &amp; Africa declined <font>19</font>%, primarily due to a disproportionate impact from the exit of the Dunhill license; excluding the impact of Dunhill, net sales declined <font>6</font>% due to conflict in the region and as more doors focused on higher end luxury fragrances.</font></p>
<p style="margin: 10pt 0pt; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#8220;As announced last month, we signed an exclusive global license agreement with Longchamp, further strengthening our portfolio. This marks the third new brand we have added to our portfolio since December 2024, preceded by Off-White and Goutal. Additionally, our first owned brand fragrance collection, Solf&#233;rino, remains on track with a highly selective distribution and elevated merchandising strategy as we prepare to open our flagship Paris boutique next month.</font></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Mr. Madar concluded, &#8220;As always, we remain committed to investing in our brands and capabilities while maintaining the flexibility to adapt to evolving market conditions. Although the imposition of tariffs and a dynamic market environment may present near-term challenges due to trade destocking, our recent pricing strategies, upcoming fragrance launches, and foreign exchange tailwinds are expected to be the catalysts in driving stronger results in the second half of <font>2025</font> leading to continued market share gains.&#8221;</font></p>
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<p style="margin: 10pt 0pt 0pt; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>Financial Commentary</b></font></p>
<p style="text-align: justify; line-height: 1.2; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;">Michel Atwood, Chief Financial Officer of Interparfums, noted, &#8220;Consolidated gross margin expanded <font>170</font> bps to <font>66.2</font>% and <font>150</font> bps to <font>65.0</font>% in the second quarter and first half of <font>2025</font>, respectively, as a result of favorable segment and brand mix.</font></font></p>
<p style="margin: 0in -5.4pt 0in 0in; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;">&#160;</font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="color: black; line-height: inherit;">&#8220;SG&amp;A expenses as a percentage of net sales were <font>48.5</font>% and <font>45.0</font>% for the second quarter and first half of <font>2025</font> as compared to <font>45.6</font>% and <font>43.6</font>% for the comparable periods in <font>2024</font>, attributable to higher levels of advertising and promotional expenditures in <font>2025</font>. These expenditures represented <font>20.6</font>% and <font>17.9</font>% of net sales for the second quarter and first half of <font>2025</font>, compared to <font>19.4</font>% and <font>17.2</font>% for the respective periods of the prior year. </font></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="color: black; line-height: inherit;">&#160;</font></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="line-height: inherit;"><font style="color: black; line-height: inherit;">&#8220;</font></font></font><font style="line-height: inherit;"><font style="line-height: inherit;">The key metrics mentioned <font style="color: #000000; line-height: inherit;">resulted in operating margins aggregating <font>17.7</font>% and <font>20.0</font>% for the second quarter and first half of <font>2025</font>, respectively, as compared to <font>18.9</font>% and <font>19.9</font>% for the corresponding periods of <font>2024</font>.</font></font></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="color: #ee0000; line-height: inherit;">&#160;</font></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;">&#8220;Below the operating line, first half net income was unfavorably impacted by other expenses of $<font>6.7</font> million compared to $<font>1.5</font> million in last year&#8217;s first half. Through June 30, 2025, we recorded $<font>2.4</font> million in losses on foreign currency and a $<font>3.4</font> million loss on marketable securities, while in the same period last year, there was a foreign currency gain of $<font>0.3</font> million and a loss of $<font>0.6</font> million on marketable securities. </font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;">&#160;</font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="line-height: inherit;"><font style="color: black; line-height: inherit;">&#8220;These factors contributed to our second</font></font></font> <font style="line-height: inherit;"><font style="line-height: inherit;"><font style="color: #000000; line-height: inherit;">quarter net income of $<font>32</font> million, or $<font>0.99</font> per diluted share. </font></font></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="color: black; line-height: inherit;">&#160;</font></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="color: black; line-height: inherit;">&#8220;Our financial position remains healthy with $<font>205</font> million in cash, cash equivalents and short-term investments, and working capital of $<font>654</font> million. In the first half of <font>2025</font>, we improved our operating cash flow by $<font>31</font> million compared to the same period last year, shifting from $<font>26</font> million of cash consumption to $<font>5</font> million of cash generation as our inventory initiatives began to deliver results.&#8221;</font></font></font></p>
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><b>&#160;</b></font></font></p>
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><b>Reaffirms <font>2025</font> Guidance</b></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><font style="line-height: inherit;">Mr. Atwood concluded, &#8220;</font></font><font style="line-height: inherit;">Despite healthy sellout in the first half driven by the strength of our portfolio and disciplined execution, our sales were slightly below expectations due to continued trade destocking. As we look ahead to the second half, we remain mindful of the ongoing macroeconomic uncertainty, including tariff-related supply chain impacts, moderating demand in several international markets outside the United States, and continued volatility of the EUR/USD exchange rate. </font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#8220;Nevertheless, we are cautiously optimistic in our ability to achieve the full year objectives we initially laid out in November 2024, supported by the continued resilience of the fragrance category, tariff induced second half pricing actions, and continuing foreign exchange tailwinds. As such, we are reaffirming our <font>2025</font> guidance, which calls for net sales of $<font>1.51</font> billion and earnings per diluted share of $<font>5.35</font>.&#8221;</font></p>
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;">&#160;</b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;">Dividend</b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">The Company&#8217;s regular quarterly cash dividend of $<font>0.80</font> per share will be paid on September 30, 2025, to shareholders of record on September 15, 2025.</font></p>
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<p style="text-align: justify; margin: 10pt 0pt 0pt; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><b style="mso-bidi-font-weight: normal;">Conference Call</b></font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Management will host a conference call to discuss financial results and business operations beginning at <font>11</font>:<font>00</font> am ET on Wednesday, August 6, 2025.</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Interested parties may participate in the live call by dialing: </font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p style="margin: 0in 0in 0in 0.5in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">U.S. / Toll-free:<font style="line-height: inherit;">&#160; </font>(<font>877</font>) <font>423</font>-<font>9820</font></font></p>
<p style="margin: 0in 0in 0in 0.5in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">International:<font style="line-height: inherit;">&#160; &#160; &#160;&#160;</font>(<font>201</font>) <font>493</font>-<font>6749</font></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Participants are asked to dial-in approximately <font>10</font> minutes before the conference call is scheduled to begin.</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;">A live audio webcast will also be available in the &#8220;Events&#8221; tab within the Investor Relations section of the Company&#8217;s website at </font><font style="line-height: inherit;">www.interparfumsinc.com</font><font style="line-height: inherit;"><font style="color: #0000ff; text-decoration: underline; line-height: inherit;">,</font></font><font style="line-height: inherit;"> or by clicking </font><font style="line-height: inherit;">here</font><font style="line-height: inherit;">. The conference call will be available for webcast replay for approximately <font>90</font> days following the live event.</font></font></p>
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;">&#160;</b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;">About Interparfums, Inc.:</b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Operating in the global fragrance business since <font>1982</font>, Interparfums, Inc. produces and distributes a wide array of prestige fragrance and fragrance related products under license and other agreements with brand owners. The Company manages its business in <font>two</font> operating segments, European based operations, through its <font>72</font>% owned subsidiary, Interparfums SA, and United States based operations, through wholly owned subsidiaries in the United States and Italy.</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Our portfolio of prestige brands includes Abercrombie &amp; Fitch, Anna Sui, Boucheron, Coach, Donna Karan/DKNY, Emanuel Ungaro, Ferragamo, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lacoste, Longchamp, MCM, Moncler, Montblanc, Oscar de la Renta, Roberto Cavalli, and Van Cleef &amp; Arpels, whose products are distributed in over <font>120</font> countries around the world through an extensive and diverse network of distributors. Interparfums, Inc. is also the registered owner of several trademarks including Lanvin, Rochas, and Solf&#233;rino. Goutal and Off-White will join the Company&#8217;s fragrance portfolio in <font>2026</font>.</font></p>
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;">&#160;</b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;">Forward-Looking Statements</b></font></p>
<p style="text-align: justify; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions, and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions, or expectations will be achieved. In some cases, you can identify forward-looking statements by forward-looking words such as "anticipate, "believe", "could", "estimate", "expect", "intend", "may", "should", "will", and "would" or similar words. You should not rely on forward-looking statements, because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings &#8220;Forward Looking Statements&#8221; and "Risk Factors" in Interparfums' annual report on Form 10-K for the fiscal year ended December 31, 2024, and the reports Interparfums files from time to time with the Securities and Exchange Commission. Interparfums does not intend to and undertakes no duty to update the information contained in this press release.</font></p>
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<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top">Interparfums<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,<font>&#160;</font></font>Inc<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>
<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">or</font></td>
<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Equity Group<font>&#160;</font></font>Inc<font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</font></td>


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<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Michel Atwood</font></td>
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<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Karin Daly</font></td>


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<td style="height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Chief Financial Officer</font></td>
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<td style="height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Investor Relations Counsel</font></td>


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<td style="height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(<font>212</font>) <font>983</font>-<font>2640</font></font></td>
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<td style="height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><font style="color: #000000; line-height: inherit;">(<font>212</font>) <font>836</font>-<font>9623</font> /<font>&#160;</font></font></font><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;">kdaly@theequitygroup.com</font></td>


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<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">www.interparfumsinc.com</font></td>
<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br></td>
<td style="height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">www.theequitygroup.com</font></td>


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</div>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p align="center" style="text-align: center; margin: 0pt 0pt 10pt; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-indent: 0pt;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">See Accompanying Tables</font></p>
<div>
<div id="t_ft_0CDXW0Y8V400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">3</font></font></td>


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 </table>


</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always;"><a href="#TOC"></a><br></div>


 </div>
<p align="center" style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2; text-align: left;"><br></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i>INTERPARFUMS, INC. AND SUBSIDIARIES</i></b></font><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><font style="line-height: inherit;"><b><i><font style="color: #000000; text-decoration: none; line-height: inherit;">CONSOLIDATED BALANCE SHEETS</font></i></b></font><b><i></i></b></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>&#160;(In thousands except share and per share data)</i></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>&#160;(Unaudited)</i></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>&#160;</i></font></p>
<div id="t_ft_POREL12G8G00000000000000000000b">
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="height: 459px; width: 100%; margin: 0px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px;">

<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">ASSETS</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


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 </tr>
<tr style="height: 10px;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 10px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td colspan="2" valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">June 30, </font></b></font><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;"><font>2025</font></font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td colspan="2" valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">December 31, 2024</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Current assets:</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px; width: 74%;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Cash and cash equivalents </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 1%;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 1%;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 10%;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>151,454</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 1%;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 1%;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 1%;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 10%;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>125,433</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; width: 1%;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Short-term investments </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>53,901</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>109,311</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Accounts receivable, net </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>296,043</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>274,705</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Inventories </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>425,349</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>371,920</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Receivables, other </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>8,133</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>6,122</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Other current assets </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>50,083</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>27,035</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 18.25pt; height: 10px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Income taxes receivable </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>2,024</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>306</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 36.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Total current assets </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>986,987</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>914,832</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Property, equipment and leasehold improvements, net</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>185,356</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>153,773</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Right-of-use assets, net</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>23,328</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>24,603</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Trademarks, licenses and other intangible assets, net</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>333,353</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>282,484</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Deferred tax assets</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>12,618</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>17,034</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 9.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Other assets</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>20,106</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>18,535</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 2.75pt 45.25pt; height: 10px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Total assets</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,561,748</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,411,261</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px;">
<p align="center" style="text-align: center; text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">&#160;</font></i></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px; background-color: #cceeff;">
<p align="center" style="text-align: center; text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i><font style="color: #000000; line-height: inherit;">LIABILITIES AND EQUITY</font></i></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Current liabilities:</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 7px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Loans payable - banks </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>44,536</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>8,311</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Current portion of long-term debt </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>56,745</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>41,607</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Current portion of lease liabilities </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>6,250</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>6,087</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Accounts payable &#8211; trade </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>93,146</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>91,049</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 0in 18.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Accrued expenses </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>126,753</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>172,758</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 18.25pt; height: 7px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Income taxes payable </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>5,571</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>12,615</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 36.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Total current liabilities </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>333,001</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>332,427</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 9.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Long&#8211;term debt, less current portion</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>153,112</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>115,734</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 9.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Lease liabilities, less current portion</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>18,883</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>20,455</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<td valign="bottom" style="padding: 0in 0in 0in 9.25pt; height: 12px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Equity:</font></b></font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Interparfums, Inc. shareholders&#8217; equity: </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<td valign="bottom" style="padding: 0in; height: 10px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<td valign="bottom" style="padding: 0in; height: 10px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<td valign="bottom" style="padding: 0px 0px 0px 15px; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Preferred stock, $<font>.001</font> par; authorized <font>1,000,000</font> shares; none issued </font></p>


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<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"><font> &#8212; </font></font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"><font> &#8212; </font></font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


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<td valign="bottom" style="height: 7px; padding: 0px 0px 0px 15px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Common stock, $<font>.001</font> par; authorized <font>100,000,000</font> shares; outstanding <font>32,117,600</font> and <font>32,110,170</font> shares at June 30, 2025 and December 31, 2024, respectively </font></p>


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<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0px 0px 0px 15px; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Additional paid-in capital </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>108,802</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>106,702</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td valign="bottom" style="padding: 0px 0px 0px 15px; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Retained earnings </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>787,031</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>763,240</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0px 0px 0px 15px; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Accumulated other comprehensive loss </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>1,599</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">)</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>72,239</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td valign="bottom" style="padding: 0px 0px 0px 15px; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Treasury stock, at cost, <font>10,001,665</font> and <font>9,981,665</font> shares at June 30, 2025 and December 31, 2024, respectively </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>54,907</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">)</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>52,864</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>


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<tr style="height: 7px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0px; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Total Interparfums, Inc. shareholders&#8217; equity </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>839,359</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>744,871</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 18.25pt; height: 7px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Noncontrolling interest </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>217,393</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>197,774</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px; background-color: #cceeff;">
<td valign="bottom" style="padding: 0in 0in 1.25pt 36.25pt; height: 7px; background-color: #cceeff;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> Total equity </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,056,752</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>942,645</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px;">
<td valign="bottom" style="padding: 0in 0in 2.75pt 45.25pt; height: 10px;">
<p style="text-indent: -9pt; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Total liabilities and equity</font></b></font></p>


 </td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,561,748</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td valign="bottom" style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,411,261</font> </font></p>


</td>
<td valign="bottom" style="padding: 0in 0in 2.75pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>





 </table>


</div>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>&#160;</i></font></p>
<div>
<div id="t_ft_PWIGDJ626O00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">4</font></font></td>


 </tr>





 </table>


</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/>
<div class="pageBreak" style="page-break-before: always;"><a href="#TOC"></a><br></div>


 </div>
<p style="margin: 0pt;"><br></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i>INTERPARFUMS, INC. AND SUBSIDIARIES</i></b></font><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b>&#160;</b></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><i>CONSOLIDATED STATEMENTS OF INCOME</i></b></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i>(In thousands except per share data)</i></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><i><font style="line-height: inherit;">&#160;</font>(Unaudited)&#160;</i></font></p>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</font></p>
<div id="t_ft_4C2113CE9S00000000000000000000b">
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="height: 458px; width: 100%; margin: 0px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px;">

<tr style="height: 10px;">
<td width="49%" style="width: 49%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="24%" colspan="6" style="width: 24%; padding: 0in; height: 10px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Three Months Ended</font></b></font></p>


 </td>
<td width="1%" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="23%" colspan="5" style="width: 23%; padding: 0in; height: 10px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">Six Months Ended</font></b></font></p>


 </td>
<td width="1%" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="24%" colspan="6" valign="bottom" style="width: 24%; padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">June 30,</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="23%" colspan="5" valign="bottom" style="width: 23%; padding: 0in; height: 12px;">
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;">June 30,</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px;">
<td width="49%" style="width: 49%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" style="width: 1%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" style="width: 11%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0px; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p align="center" style="text-align: center; margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;"><font>2025</font></font></b></font></p>


 </td>
<td width="1%" style="width: 1%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" style="width: 1%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="11%" colspan="2" style="width: 11%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0px; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p align="center" style="text-align: center; margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;"><font>2024</font></font></b></font></p>


 </td>
<td width="1%" style="width: 1%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" style="width: 11%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0px; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p align="center" style="text-align: center; margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;"><font>2025</font></font></b></font></p>


 </td>
<td width="1%" style="width: 1%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" style="width: 1%; padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" style="width: 11%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0px; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000 !important; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p align="center" style="text-align: center; margin: 0px; font-size: 10pt; font-family: 'Times New Roman', serif; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: #000000; line-height: inherit;"><font>2024</font></font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" valign="bottom" style="width: 11%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" valign="bottom" style="width: 11%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" valign="bottom" style="width: 11%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="11%" colspan="2" valign="bottom" style="width: 11%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Net sales</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>333,936</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>342,229</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>672,755</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>666,192</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Cost of sales</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>112,847</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>121,472</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>235,689</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>243,050</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Gross margin</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>221,089</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>220,757</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>437,066</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>423,142</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Selling, general and administrative expenses</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>161,913</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>155,929</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>302,813</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>290,341</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Income from operations</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>59,176</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>64,828</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>134,253</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>132,801</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Other expenses (income):</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 0in 9.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Interest expense </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,787</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,941</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>3,332</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>3,748</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 0in 9.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Loss (gain) on foreign currency </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,580</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;"></td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>634</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;"></td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>2,360</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>270</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 0in 9.25pt; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Interest and investment loss (income) </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,929</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;"></td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,076</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;"></td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,349</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>1,944</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>


 </tr>
<tr style="height: 7px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 0in 9.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Other income </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>245</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>74</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>324</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">)</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> (<font>37</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> ) </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; display: none; line-height: inherit;">Nonoperating Income (Expense)</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>5,051</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;"></td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>3,577</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;"></td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>6,717</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 7px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1,497</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Income before income taxes</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>54,125</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>61,251</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>127,536</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>131,304</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Income taxes </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>12,928</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>14,653</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>30,936</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>31,403</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Net income</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>41,197</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>46,598</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>96,600</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>99,901</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1.25pt 9.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Less: Net income attributable to the noncontrolling interest </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>9,209</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>9,775</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>22,120</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>22,030</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 1.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border: none; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border: none; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Net income attributable to Interparfums, Inc.</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>31,988</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>36,823</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>74,480</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>77,871</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Earnings per share:</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


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<tr style="height: 7px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Net income attributable to Interparfums, Inc. common shareholders:</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 0in 9.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Basic </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1.00</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1.15</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>2.32</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>2.43</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1pt 9.25pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Diluted </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>0.99</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1.14</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>2.32</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>2.41</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Weighted average number of shares outstanding:&#160;</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 7px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 0in 9.25pt; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Basic </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,110</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,024</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,115</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 7px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,033</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 7px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1pt 9.25pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> Diluted </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,149</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,266</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,162</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 12px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>32,266</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 12px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 12px;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 12px;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>
<tr style="height: 10px; background-color: #cceeff;">
<td width="49%" valign="bottom" style="width: 49%; padding: 0in 0in 1pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;"><b><font style="color: black; line-height: inherit;">Dividends declared per share</font></b></font></p>


 </td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>0.80</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>0.75</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1.60</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> $ </font></p>


</td>
<td width="10%" valign="bottom" style="width: 10%; border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in; height: 10px; background-color: #cceeff; border-bottom-width: 2.63pt; border-bottom-style: double; border-bottom-color: black !important;">
<p align="right" style="text-align: right; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;"> <font>1.50</font> </font></p>


</td>
<td width="1%" valign="bottom" style="width: 1%; padding: 0in 0in 2.75pt; height: 10px; background-color: #cceeff;">
<p style="margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;"> &#160; </font></p>


</td>


 </tr>





 </table>


</div>
<p align="center" style="text-align: center; margin: 0in; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><br></p>
<div>
<div id="t_ft_8S8ZJ0F7U800000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class="pageno">5</font></font></td>


 </tr>





 </table>


</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"/></div>


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end
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<TYPE>XML
<SEQUENCE>10
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 05, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug.  05,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">0-16469<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Interparfums, Inc.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000822663<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">13-3275609<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">551 Fifth Avenue<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10176<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">212<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">983.2640<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $.001 par value per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IPAR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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