Blyth Inc Posts Mixed Results (BTH)

Blyth, Inc. BTH on Thursday before the market opened released financial results that beat Wall Street earnings expectations, while just missing revenue estimates. Blyth, Inc reported that it swung to a 2nd quarter profit, with net earnings of $741,000, or 9 cents per share, compared to a loss of $15.6 million, or $1.74, a year earlier. Revenue fell 9% to $180.6 million, down from $199.4 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 7 cents per share, on revenue of $181.26 million. Blyth, Inc. (BTH) ended the Wednesday trading session at $40.18 per share. Analysts covering the company's stock have a consensus price target of $44.00 per share. Chairman and CEO Robert B. Goergen said, "Sales growth continues to be very challenging in the current economic climate. Ongoing home foreclosures and significant unemployment and underemployment in the U.S. are clearly impacting our consumer business units. In spite of that, restructuring and gross margin improvement initiatives were successful in supporting profit growth during the second quarter. I want to acknowledge personally the management and employees across Blyth as they continue to execute value-added innovation and improve upon processes during a challenging sales period." Read more from Benzinga's Company news.