03.15.13
Blyth, Inc. posted a 4% drop in net sales for the three months ended Dec. 31, 2012 to $331.0 million. Sales growth of ViSalus, as compared to the prior year period, was more than offset by declines at PartyLite and Miles Kimball Company.
Regarding the PartyLite and Miles Kimball Company businesses, Goergen added, "We continue to invest in our Candles & Home Decor and Catalog & Internet businesses in order to attain long-term sales and earnings growth."
Commenting on the fourth quarter, Robert B. Goergen, Chairman of the Board and Chief Executive Officer noted, "Blyth achieved two significant objectives at the end of last year that positions it for profitable growth as a direct-to-consumer marketing company.First, the sale of Sterno completed our transformation from a multi-channel company to one focused on the direct selling and direct marketing channels of distribution.Second, we arrived at a new, long-term understanding with the ViSalus Founders that preserves their ability to remain equity participants in the business as we work together to achieve global market penetration."
Regarding the PartyLite and Miles Kimball Company businesses, Goergen added, "We continue to invest in our Candles & Home Decor and Catalog & Internet businesses in order to attain long-term sales and earnings growth."