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Blyth’s 4Q Profit Hit by Restructuring Charges

November 15, 2005

Candlemaker Blyth Inc. executives said quarterly profit declined, but the fall was less than expected because the company took a smaller charge for job cuts and facility closures.
The company announced a restructuring in January to reduce costs and scale back some of its product lines.
Net income in the fourth quarter ended Jan. 31 totaled $20.7 million, compared with $22.9 million a year earlier.
The company took $23 million in restructuring and impairment charges for the fourth quarter, less than the $25-27 million it had previously expected, executives revealed.
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