| Stage | IPAR | % of rev | USLM | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $341M | 100.00% | $106M | 100.00% | IPAR ×3.21 |
| Gross profit | $224M | 65.54% | $51M | 47.81% | IPAR +17.7pp |
| Operating income | $49M | 14.35% | $45M | 42.10% | USLM +27.7pp |
| Pre-tax income | $48M | 14.15% | $49M | 45.68% | USLM +31.5pp |
| Net income | $37M | 10.81% | $38M | 35.83% | USLM +25.0pp |
| Stage | IPAR | USLM | Gap · A − B |
|---|---|---|---|
| Revenue | $341M100.00% | $106M100.00% | IPAR ×3.21 |
| Gross profit | 65.54%$224M | 47.81%$51M | IPAR +17.7pp |
| Operating income | 14.35%$49M | 42.10%$45M | USLM +27.7pp |
| Pre-tax income | 14.15%$48M | 45.68%$49M | USLM +31.5pp |
| Net income |
| 10.81%$37M |
| 35.83%$38M |
| USLM +25.0pp |
None
No disclosed counterparties: IPAR.