Breaking News

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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