Blyth, Inc. Reports Q4 EPS of $2.13 vs. $20.6; Revenues $303.3M vs. $272.38M

Blyth, Inc. BTH today reported that Net Sales for the fourth quarter ended January 31, 2011 declined approximately 6% to $303.3 million from $322.4 million for the prior year period. Sales declined 3% on a local currency basis. Sales growth in ViSalus Sciences and in the Wholesale segment was more than offset by lower sales volume in PartyLite. International sales represented 51% of fourth quarter sales this year versus 53% last year. Net Earnings attributable to Blyth, Inc. common shareholders for the fourth quarter decreased to $17.7 million compared to $31.8 million for the prior year. Diluted Earnings Per Share for the fourth quarter were $2.13 compared to $3.57 last year. Included in the fourth quarter this year was the aforementioned Catalog & Internet asset impairment charge of $1.1 million pre-tax, equating to $0.7 million after tax, or $0.09 per share, and the Direct Selling lease impairment charge of $0.8 million pre-tax, equating to $0.5 million after tax, or $0.07 per share.