Blyth, Inc. Reports Record Fourth Quarter

lyth, Inc., Greenwich, CT, reported that net sales for the fourth quarter ended Jan. 31, 2005 increased approximately 3% to $498.8 million compared to $486.4 million a year earlier. Operating profit for the quarter increased to $65 million compared to $38.3 million for the prior year period. Net earnings were $39.2 million versus $20.7 million a year earlier.
Net sales for the fiscal year increased approximately 5%, to nearly $1.6 billion. Operating profit increased to $169.3 million versus $153.1 million for the same period last year. Net earnings were $96.5 million compared to $86.4 million for the prior year period.
“We are pleased to report a stronger than expected finish to an otherwise challenging year,” commented Robert B. Goergen, Blyth’s chairman of the board and chief executive officer. “Numerous factors influenced Blyth’s fourth quarter operating results and, overall, we experienced more positives than negatives during the quarter. Nevertheless, our North American businesses continued to face lower consumer and retailer demand, and management remains focused on profitable growth through increased sales volume and careful cost management.