Inter Parfums (IPAR) Q4 2017 Earnings Conference Call Transcript

For 2017 on the minus side, after making reasonable estimates of the effects of the tax act and arriving at our initial analysis in the fourth quarter of 2017, we recorded a $1.1 million tax expense relating to the revaluation of deferred-tax assets and liabilities that was caused by the new lower U.S. corporate tax rate. We will save you the time of calculating a normalized rate, by reporting that excluding the effects of the tax act and the claim for refund, and the 2016 settlement, our actual tax effective rate was 32.4%, 32.7%, and 35.6% in 2017, 2016, and 2015 respectively.One last thing, just to clarify, in 2017, after considering the non-recurring items, including the impairment charge, the inventory reserve, as well as the tax adjustments, or net of taxes and any applicable minority interest, there was really no effect on our diluted EPS. These plus and minus factors, in essence, canceled each other out, and the details of those calculations are included in the MD&A section of our 2017 10-K, which we filed yesterday.

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