Blyth Adjusts Its Outlook

Blyth, Inc. reported that net sales for the second quarter ended July 31, 2010 declined approximately 9% to $180.6 million. International sales represented 39% of total sales in the second quarter both this year and last year, according to the multi-channel designer and marketer of home fragrance, home decor products and household convenience items.

However, the companyincreased its outlook for fiscal year 2011. Earnings Per Share are expected to be in the range of $3.05 to $3.35 for fiscal year 2011 versus prior guidance of $2.90 to $3.20. Management also updated its expectations for cash flow from operations to approximately $55 million from previous guidance of $60 million. The decline is due to an anticipated increase in working capital. Capital spending remains at approximately $10 million for fiscal year 2011.