Blyth Posts Loss in Third Quarter

2006-12-06 | 01:22

Blyth Inc., which makes candles and other fragrance products, said Wednesday it swung to a fiscal third-quarter loss, weighed on in part by restructuring charges and other charges.

Loss for the quarter ended Oct. 31 totaled $221,000, compared with a profit of $23 million a year ago. Results include restructuring charges of $5.2 million and $2.2 million of net losses on the sale and discontinued operations of Blyth's European wholesale business.

Revenue fell 9 percent to $297.9 million, from $328.5 million last year.

Robert B. Goergen, Blyth's chairman and chief executive, said in a statement he was disappointed with third-quarter results and fiscal 2007 "continues to be challenging."

For the full year, the company expects a loss between $2.50 and $2.60, including charges. For 2008, Blyth expects earnings between $1.20 to $1.30, including charges.