Blyth Reports Q1 2010 Sales and Earnings

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Blyth, Inc. reported that net sales for the first quarter of fiscal 2010 (ended April 30, 2009) declined approximately 7% on a local currency basis, with reported sales down 14% to $214.7 million compared to $249.8 million for the prior year period. International sales represented 42% of total sales in the first quarter compared to 41% in the prior year. Operating profit for the first quarter was $5.8 million versus $10.0 million in the first quarter of 2009.

"Consumer spending during the first quarter was weak and was overwhelmingly value-driven as evidenced by sales trends in each of our North American businesses," said Robert B. Goergen, chairman of the board and CEO, Blyth. "In Europe, however, our sales increased 7% in local currency as consumer spending continued to hold up better."

The complete report and 2010 outlook is available from the company.