Blyth, Inc. Reports 4th Quarter and 2012 Sales and Earnings

         Blyth, Inc. Reports 4th Quarter and 2012 Sales and Earnings

ViSalus Growth Largely Offsets Declines at PartyLite and Miles Kimball

Blyth Also Provides 2013 Earnings Guidance

PR Newswire

GREENWICH, Conn., March 14, 2013

GREENWICH, Conn., March 14, 2013 /PRNewswire-FirstCall/ --Blyth, Inc. (NYSE:
BTH), a direct to consumer company and leading designer and marketer of health
and wellness products, candles and accessories for the home sold through the
direct selling and direct marketing channels, today reported earnings for the
fourth quarter and full year.

2012 Fourth Quarter Performance

Net Sales for the three months ended December 31, 2012 decreased approximately
4% to $331.0 million from $345.5 million for the comparable prior year period.
Sales growth of ViSalus, as compared to the prior year period, was more than
offset by declines at PartyLite and Miles Kimball Company. 

Commenting on fourth quarter accomplishments, 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."

Turning to the fourth quarter financial results, Mr. Goergen noted that,
"ViSalus's fourth quarter sales, at $127 million, represented 29%
year-over-year sales growth. Moreover, its full year sales were $624 million
versus $230 million in 2011. That ViSalus achieved such significant market
penetration highlights the opportunity in opening additional markets outside
of North America, beginning in 2013, following the lead of many global health
and wellness competitors."

Regarding the PartyLite and Miles Kimball Company businesses, Mr. 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."

Blyth's operating profit for the fourth quarter was $39.8 million this year
versus $34.5 million last year and includes the following pretax items:

  oA ViSalus Equity Incentive Plan (EIP) charge of $2.2 million this year and
    $11.6 million last year related to the EIP that was terminated in January
    2013, and
  oRestructuring charges of $1.0 million for PartyLite this year and $3.0
    million last year.

Excluding the impact of these charges, Blyth's operating profit would have
been $43.0 million this year versus $49.1 million last year.

Net Earnings attributable to Blyth, Inc. for the fourth quarter were $27.8
million compared to $25.6 million for the prior year. Diluted Earnings Per
Share attributed to Blyth, Inc. for the fourth quarter were $1.63 this year
compared to $1.54 last year. This year's Diluted Earnings Per Share include:

  oImpairment of Midwest-CBK note receivable charge of $0.06 this year,
  oViSalus EIP charge of $0.06 this year versus a $0.22 charge last year,
  oPartyLite restructuring charges of $0.04 this year versus $0.12 last year,
    and
  oA gain of $0.36 from discontinued operations versus $0.07 last year.

Excluding these unusual items and discontinued operations, Normalized Earnings
Per Share for the fourth quarter were $1.42 this year versus $1.80 last year.

In December 2012, Blyth increased its ownership in ViSalus from approximately
73% to approximately 81% at a cost of $60 million. As part of that
transaction, Blyth essentially modified its obligation to purchase the
remaining 19% interest in ViSalus that it did not already own through the
issuance by ViSalus of redeemable convertible preferred stock.

This December 2012 transaction necessitated a revaluation of ViSalus which was
made through an independent appraisal that took into account a number of
factors, including recent declines in public direct selling company multiples.
The revaluation resulted in a fair market value of ViSalus which required a
non-cash adjustment of $34 million, or $1.99 on a Diluted Earnings Per Share
basis. As a result, after giving effect to the exchange of redeemable
preferred stock in excess of fair value, Net Earnings Attributable to Blyth,
Inc. Common Stockholders in the fourth quarter of 2012 is a loss of $6.2
million, or a loss of $0.36 per share.

In connection with the issuance of the redeemable convertible preferred stock,
the Company has recorded an obligation on its balance sheet, identified as
"Redeemable Preferred Stock", for $147 million. The establishment of this
instrument resulted in a charge against equity during the fourth quarter of
2012 of $75 million, which consists of the difference between the September
30, 2012 Redeemable Non-Controlling Interest balance of $132 million, less
December's payment to increase ownership from 73% to 81% of $60 million, and
less December's establishment of Redeemable Preferred Stock of $147 million.

Mr. Goergen further noted, "We must not lose sight of the fact that Blyth has
invested $145 million in its 81% stake in ViSalus, a company that achieved
2012 sales growth of 171% in North America, growing from $230 million in 2011
to $624 million. Moreover, ViSalus contributed $97 million in operating
profit to Blyth's 2012 results, a nearly three-fold increase over the $35
million earned in the prior year. We are delighted with this record of
achievement and look forward to ViSalus's continued contribution to Blyth's
sales and earnings as it enters its first market outside North America in
2013."

During the fourth quarter, the Company repurchased 411,336 shares, or
approximately 2.4% of its 17 million shares outstanding. The Company has 1.6
million shares remaining in its existing repurchase authorization.

Due to the change in the Company's fiscal year from January 31^st to December
31^st, which was effected in the prior year period, it should be noted that
fourth quarter and full year results for 2011 are unaudited and presented for
comparative purposes. In addition, due to the divestiture of Sterno in
October 2012, its financial results, including a gain on sale of $5.5 million,
are classified in Discontinued Operations for all reported periods.

The summary reconciliation of unaudited Generally Accepted Accounting
Principles (GAAP) earnings and earnings per share to Non-GAAP earnings and
earnings per share presented in the attached table and the discussion of
segment operating profit excluding certain items are included as additional
references to assist investors in analyzing the Company's performance and
should be considered in addition to, not as a substitute for, measures of
financial performance prepared in accordance with GAAP. In presenting
comparable results, the Company discloses non-GAAP financial measures when it
believes such measures will be useful to investors in evaluating the Company's
underlying business performance. Management internally reviews the results of
the Company excluding the impact of certain items as it believes that these
non-GAAP financial measures are useful for evaluating the Company's core
operating results and facilitating comparison across reporting periods.

2012 Fourth Quarter Segment Performance

In October 2012, the Company completed the sale of its Sterno subsidiary for
$23.5 million in cash, completing Blyth's strategic transformation from a
multi-channel company to a direct-to-consumer company focused on the direct
selling and direct marketing channels of distribution. As such, Blyth has
realigned its segments to reflect this transformation. Segment results have
been restated for all periods shown to reflect the new segment structure. The
new segments and related businesses are:

  oHealth & Wellness - ViSalus
  oCandles & Home Decor - PartyLite
  oCatalog & Internet - Miles Kimball Company

In the Health & Wellness segment, fourth quarter net sales increased 29% to
$126.6 million versus $98.5 million for the same period last year. ViSalus
had approximately 76,000 independent Promoters at the end of the fourth
quarter versus 59,000 Promoters on board at the end of the prior year's fourth
quarter. Health & Wellness fourth quarter segment operating profit was $8.7
million this year versus $2.7 million last year. Excluding the EIP charges of
$2.2 million this year and $11.6 million last year, and allocated corporate
expenses of $2.4 million this year and $1.8 million last year, fourth quarter
operating profit for ViSalus was $13.3 million this year versus $16.1 million
in the fourth quarter of 2011. The decrease in 2012 in ViSalus's operating
profit was due primarily to the increase in infrastructure, including
staffing, an expanded call center, enhanced information technology systems,
the investment in global expansion and expanded leased office space necessary
to support the North American business.

Ryan Blair, Chief Executive Officer of ViSalus, commented, "2012 was a year of
growth and building for ViSalus during which we fortified our infrastructure
to support the continued growth opportunity in North America and as we prepare
for expansion into Europe. I am incredibly proud of what our team
accomplished this year and very optimistic about the long-term prospects of
our direct-to-consumer network marketing model, which we can now support very
capably due to the investments we've made, including adding approximately 300
new staff members, new leased facilities to house our growth and new
information systems and technology."

Candles & Home Decor sales were $160.1 million in the fourth quarter, versus
$195.5 million for the same period last year, a decline of 18%. This decline
reflects increased competition from both retail establishments selling candles
and other direct selling companies competing for consultants, as well as the
soft consumer market worldwide. PartyLite's European sales during the quarter
declined 11% in local currency, or 14% in U.S. dollars. PartyLite's European
active independent sales Consultants totaled over 30,000 at year-end versus
approximately 34,000 last year. PartyLite's U.S. sales declined 34% versus
the prior year period. Active U.S. independent sales Consultants totaled
approximately 15,000 at year-end versus approximately 19,000 last year. At
PartyLite Canada, sales declined 24% in local currency and 21% in U.S. dollars
during the quarter, with active independent sales Consultants down 12% to
approximately 4,700 at year-end 2012 from 5,300 at year-end 2011.

Fourth quarter operating profit for the Candles & Home Decor segment was $29.9
million versus $28.8 million in last year's fourth quarter. Excluding
restructuring charges of $1.0 million this year and $3.0 million last year,
and allocated corporate expenses of $1.6 million this year versus $3.6 million
last year, PartyLite's operating profit was $32.5 million this year versus
$35.4 million last year, largely due to the favorable impact of restructuring
and cost savings initiatives which nearly offset the sales decline.

Commenting on the performance of the Candles & Home Decor segment, Robert B.
Goergen, Jr., Chief Operating Officer of Blyth and President, PartyLite
Worldwide said, "Despite the year-over-year sales decline, PartyLite's
operating profit benefited from cost savings related to the streamlining of
its operations and other overhead reductions as we 'right-sized' the
organization to position it for continued profitability in 2013 and beyond."

In the Catalog & Internet segment, fourth quarter net sales declined 14% to
$44.3 million versus $51.5 million last year due to the continued trend of
soft sales of general merchandise. This was partially offset by the strong
sales of health and wellness products which continue to achieve double-digit
growth through the health and wellness catalog, Easy Comforts®. Fourth
quarter operating profit in this segment was $1.1 million this year versus
$3.1 million last year. Excluding allocated corporate expenses of $0.5
million this year and $1.2 million last year, Miles Kimball's operating profit
was $1.6 million this year versus $4.3 million last year. This decline was
due to lower sales and the margin impact from holiday season free shipping
promotions.

2012 Full Year Performance

Net Sales for the year ended December 31, 2012 increased 34% to $1.2 billion
versus $0.9 billion for the prior year. Operating profit for the year was
$84.6 million this year versus $32.2 million last year and includes the
following pretax items:

  oViSalus EIP charge of $11.3 million this year and $27.1 million last year,
  oFees of $4.7 million related to the ViSalus proposed public offering,
    which was withdrawn in September 2012,
  oCatalog & Internet segment charge for an intangible impairment of $0.8
    million, and
  oRestructuring charge of $3.2 million for PartyLite this year versus $3.0
    million last year.

Excluding the impact of these charges, operating profit was $104.6 million
this year versus $62.3 million last year. The increase in operating profit is
due to strong growth at ViSalus.

Net Earnings attributable to Blyth, Inc. for the full year were $44.0 million
compared to $13.8 million for the prior year. Diluted Earnings Per Share
attributable to Blyth, Inc. were $2.55 this year compared to $0.83 last year.
Earnings per share include:

  oImpairment of Midwest-CBK note receivable charge of $0.06 this year,
  oViSalus EIP charge of $0.32 this year versus a $0.45 charge last year,
  oFees incurred by ViSalus related to their withdrawn public offering of
    $0.12 this year,
  oCatalog & Internet intangible impairment charge of $0.03 this year,
  oPartyLite restructuring charges of $0.12 both this year and last year, and
  oIncome from discontinued operations of $0.45 this year and a loss of $0.37
    last year. 

Normalized Earnings Per Share for the full year before the aforementioned
charges and discontinued operations were $2.75 this year versus $1.76 last
year, an increase of 56%. After giving effect to the non-cash adjustment of
$1.97, resulting from the exchange of redeemable preferred stock in excess of
fair value, described above, the Diluted Earnings Per Share attributable to
Blyth, Inc. Common Stockholders was $0.58.

The sum of the individual and segment amounts may not equal the reported
totals for the quarter and full year for Blyth overall due to rounding.

2013 Earnings Guidance

The Company also announced that 2013 Diluted Earnings Per Share attributable
to Blyth, Inc. are expected to be $1.70 - $1.85 compared to 2012 Diluted
Earnings Per Share attributable to Blyth, Inc. of $2.55. The year-over-year
comparison reflects an anticipated overall single digit sales decline as well
as projected investment spending in 2013 that is essential to achieve the
Company's long-term growth objectives. Moreover, the Company expects a slight
operating loss in the first quarter of 2013 due to a larger decline in
year-over-year sales in the first quarter than for the full year. In
addition, the Company will see the impact of investment spending begun last
year to support Blyth's global growth as well as to sustain the overall health
of the operations in each of its three segments. Cash flow from operations
for 2013 is expected to be approximately $85 million, an over 60% increase
when compared to the approximately $52 million generated in 2012. This
increase is primarily due to improvements in working capital, the anticipated
settlement of a legal proceeding and non-cash charges associated with
management equity incentive plans. Capital spending is anticipated to be
relatively flat year-to-year at $19 million.

Blyth, Inc., headquartered in Greenwich, CT, USA, is a direct to consumer
business focused on the direct selling and direct marketing channels. It
designs and markets health and wellness products, candles and accessories for
the home through the direct selling channel, utilizing both the network
marketing and home party plan methods. The Company also designs and markets
household convenience items and personalized gifts through the
catalog/Internet channel. Its products are sold direct to the consumer under
the ViSalus Sciences^®, PartyLite^® and Two Sisters Gourmet by PartyLite^®
brands and to consumers in the catalog/Internet channel under the Miles
Kimball®, Walter Drake®, Easy Comforts®, As We Change® and Exposures® brands.

Blyth, Inc. may be found on the Internet at www.blyth.com.

This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by the fact that they do not relate to statements
of historical or current facts, and include statements concerning our plans,
objectives, goals, strategies, future events or performance and underlying
assumptions. Forward-looking statements often include words such as
"anticipates," "estimates," "expects," "projects," "intends," "plans,"
"believes" and words of similar substance in connection with discussions of
future operating or financial performance. We have prepared our outlook for
2013 based on our current estimate of the accounting charge from the
anticipated adoption by ViSalus of its management incentive plan, but that
charge will not be finalized until ViSalus implements the plan. Accordingly,
the amount of that charge may be materially more or less than we have
currently estimated, which would impact our outlook for 2013, perhaps
materially. Examples of forward-looking statements in this press release
include, but are not limited to, statements regarding the Company's and our
business units positioning for profitable growth, ViSalus's international
expansion and our expected earnings and financial performance in 2013.

The Company's forward-looking statements are based on management's current
expectations and assumptions regarding the Company's business and performance,
the economy and other future conditions and future events, circumstances and
results. As with any projection or forecast, forward-looking statements are
inherently susceptible to uncertainty and changes in circumstances, especially
when made early in the fiscal year when it is inherently difficult to forecast
financial results for the full year. Our actual results could differ
materially from those expressed or implied in our forward-looking statements.
Important factors that could cause our actual results to differ materially
from the forward-looking statements include

(1) our ability to respond appropriately to changing customer preferences and
demand for our current and new products or product enhancements; (2) a
downturn in the economy; (3) our dependence on sales by independent Promoters
and Consultants and our ability to recruit, retain and motivate them; (4)
adverse publicity associated with our products, ingredients, Promoters,
programs or network marketing business model, or those of similar companies;
(5) our ability to influence or control our Promoters and Consultants; (6) our
ability to retain our existing customers or attract new customers; (7)
ViSalus's obligation, which we have guaranteed, to redeem its preferred stock
in December 2017; (8) competition; (9) federal and state regulations
applicable to our promotional and compensation programs; (10) certain taxes or
assessments relating to the activities of our Promoters and Consultants for
which we may be held responsible; (11) our dependence on key employees; (12)
risks in our international operations; (13) the loss of a leading Promoter,
together with his or her associated sales organization, or the loss of a
significant number of Promoters for any reason; (14) laws and governmental
regulations, including regulation by the FDA; (15) compliance with advertising
and labeling laws; (16) our ability to identify suitable acquisition
candidates, complete acquisitions on terms favorable to us and successfully
integrate acquired operations; (17) our ability to protect our intellectual
property; (18) our reliance on independent third parties for the manufacture
and supply of many of our products; (19) product liability claims; (20)
interruptions in our information-technology systems; (21) information security
or data breaches; (22) our ability to successfully adapt and integrate mobile
devices, which depends upon the effective operation of mobile operating
systems, networks, and standards that we do not control; (23) credit card and
debit card fraud; (24) our storage of user and employee data; (25) shortages
or increases in the cost of raw materials; (26) changes in our effective tax
rate; (27) turmoil in the financial markets; (28) any fluctuation in our
periodic results of operations; (29) increased mailing and shipping costs;
(30) the proposed elimination of Saturday catalog delivery; (31) Miles
Kimball's credit program; (32) speculative trading, (33) if securities or
industry analysts do not publish research or reports about our business, or
publish negative reports about our business; (34) our compliance with the
Sarbanes-Oxley Act of 2002, and (35) the anticipated accounting charge from
the adoption by ViSalus of a management incentive plan, as well as other
factors described in this press release and in the Company's most recently
filed Annual Report on Form 10-K and other filings with the Securities and
Exchange Commission.

For the reasons set forth above, investors should not place undue reliance on
forward-looking statements. The statements in this press release are made as
of the date of this press release, even if subsequently made available by us
on our website or otherwise. We do not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the day on which they are made, except as
provided by law.

BLYTH, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share data)
(Unaudited)
                      Three Months  Three Months  Year            Year
                      Ended         Ended         Ended December  Ended
                      December 31,  December 31,  31,             December 31,
                      2012          2011          2012            2011
                      $        $        $         $     
Net sales                                    1,179,514        
                      331,021       345,546                       879,091
Cost of goods sold    108,744       118,713       391,994         312,844
 Gross profit      222,277       226,833       787,520         566,247
Selling               136,118       143,333       516,419         383,609
Administrative and    44,205        37,406        175,234         123,299
other
ViSalus equity        2,183         11,559        11,301          27,102
incentive plan
 Total operating   182,506       192,298       702,954         534,010
expense
 Operating profit  39,771        34,535        84,566          32,237
Other expense
(income):
 Interest expense 1,585         1,485         6,057           6,473
 Interest income  (569)         (455)         (1,724)         (1,355)
 Foreign exchange 1,237         (286)         (909)           1,465
and other
 Total other      2,253         744           3,424           6,583
expense
 Earnings from
continuing operations
                      37,518        33,791        81,142          25,654
 before income
taxes
Income tax expense    13,911        10,511        31,635          6,519
 Earnings from     23,607        23,280        49,507          19,135
continuing operations
Earnings (loss) from
discontinued
operations,           575           700           2,197           (3,723)

net of income tax
Gain (loss) on sale
of discontinued
operations,           5,540         502           5,540           (2,458)

net of income tax
 Net earnings      29,722        24,482        57,244          12,954
Less: Net earnings
(loss) attributable
to                    1,971         (1,153)       13,242          (796)

 noncontrolling
interests
 Net earnings
attributable to       27,751        25,635        44,002          13,750
Blyth, Inc.
Less: Exchange of
redeemable preferred
stock in              (33,956)      -             (33,956)        -

excess of fair value
 Net earnings
(loss) attributable   $        $                        $     
to Blyth, Inc.                              $            
                      (6,205)      25,635          10,046    13,750
 common
stockholders
Diluted earnings per
share:
Net earnings from     $        $        $         $     
continuing operations                        2.10       
                      1.27          1.47                         1.20
Net earnings (loss)
from discontinued     0.36          0.07          0.45            (0.37)
operations
Net earnings
attributable per      1.63          1.54          2.55            0.83
Blyth, Inc.
Exchange of
redeemable preferred  (1.99)        -             (1.97)          -
stock in excess of
fair value
Net earnings (loss)   $        $                        $     
attributable to                          $              
Blyth, Inc. common    (0.36)       1.54              0.58  0.83
stockholders
Weighted average
number of shares      17,038        16,636        17,247          16,656
outstanding

Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
                                    December 31, 2012      December 31, 2011
Assets
 Cash and Cash Equivalents         $              $        
                                    129,056               200,571
 Short Term Investments            32,073                 34,742
 Accounts Receivable, Net          9,187                  6,810
 Inventories                       90,952                 90,357
 Property, Plant & Equipment,      93,108                 81,339
Net
 Other Assets                      80,547                 82,427
 Discontinued operations           -                      19,048
Total Assets                        $              $        
                                    434,923               515,294
Liabilities and Stockholders'
Equity
 Bank and Other Debt               $            $         
                                    6,426                   6,996
 Bond Debt                         71,764                 92,887
 Other Liabilities                 151,382                253,721
 Discontinued operations           -                      7,724
 Redeemable Preferred Stock        146,547                -
Equity                              58,804                 153,966
Total Liabilities and Equity        $              $        
                                    434,923               515,294

Blyth, Inc.
Supplemental Non-GAAP Earnings (Loss)Per Share Measures
(In thousands, except per share data)
(Unaudited)
                         Three Months Ended           Three Months Ended
                         December 31, 2012            December 31, 2011
                         Dollars       Diluted EPS    Dollars     Diluted
                                                                  EPS
Non-GAAP normalized      $           $          $         $    
earnings                 24,256       1.42          29,996     1.80
Non-GAAP Adjustments:
Impairment of note       (956)         (0.06)         -           -
receivable
ViSalus Equity Incentive (987)         (0.06)         (3,616)     (0.22)
Plan
Restructuring charges    (677)         (0.04)         (1,947)     (0.12)
(1)
Income from discontinued
operations, net of       6,115         0.36           1,202       0.07
income taxes (2)
GAAP Net earnings
attributable to Blyth,   27,751        1.63           25,635      1.54
Inc.
Exchange of redeemable
preferred stock in       (33,956)      (1.99)         -           -
excess of fair value (3)
GAAP Net (loss) earnings $          $          $         $    
attributable to Blyth,   (6,205)       (0.36)         25,635     1.54
Inc. common stockholders
This table is included as an additional reference to assist investors in
analyzing the Company's performance and should be considered in addition
to,not a substitute for, measures of financial performance prepared in
accordance with GAAP.
(1) Restructuring charges represent costs associated with the realignment
of the PartyLite North American distribution center.
(2) Amounts in 2012 reflect a gain on sale of Sterno $5.5 million, net of
taxes and net earnings from operations of $0.6 million. Amounts in 2011,
include net earnings (losses) from operations of $1.1 million and ($0.4
million) for Sterno and MidWest CBK, respectively. In 2011, the Company
recorded a gain on sale of MidWest CBK, net of tax benefits of $0.5
million.
(3) Represents a non-cash adjustment for the issuance of redeemable
preferred stock in excess of fair value.
The sum of the individual amounts may not necessarily equal to
the totals due to rounding.



Blyth, Inc.
Supplemental Non-GAAP Earnings (Loss)Per Share Measures
(In thousands, except per share data)
(Unaudited)
                      Year Ended                     Year Ended
                      December 31, 2012              December 31, 2011
                      Dollars         Diluted EPS    Dollars    Diluted
                                                                EPS
Non-GAAP normalized   $             $          $        $    
earnings              47,420         2.75          29,351    1.76
Non-GAAP
Adjustments:
Impairment of note    (956)           (0.06)         -          -
receivable
ViSalus Equity        (5,515)         (0.32)         (7,473)    (0.45)
Incentive Plan
ViSalus IPO related   (2,108)         (0.12)         -          -
costs incurred
Impairment of         (518)           (0.03)         -          -
intangible assets (1)
Restructuring charges (2,057)         (0.12)         (1,947)    (0.12)
(2)
Income (loss) from
discontinued          7,737           0.45           (6,181)    (0.37)
operations, net of
income taxes (3)
GAAP Net earnings
attributable to       44,002          2.55           13,750     0.83
Blyth, Inc.
Exchange of
redeemable preferred  (33,956)        (1.97)         -          -
stock in excess of
fair value (4)
GAAP Net earnings
attributable to       $             $          $        $    
Blyth, Inc. common    10,046         0.58          13,750    0.83
stockholders
This table is included as an additional reference to assist investors in
analyzing the Company's performance and should be considered in addition to,
not a substitute for, measures of financial performance prepared in
accordance with GAAP.
(1) Impairment of intangible was due to lower forecasted sales in the
Exposures brand within the Catalog & Internet segment.
(2) Restructuring charges represent costs associated with the realignment
of the PartyLite North American distribution center.
(3) Amounts in 2012 reflect a gain on sale of Sterno $5.5 million, net of
taxes and net earnings from operations of $2.2 million. Amounts in 2011,
include net earnings (losses) from operations of $1.3 million, ($4.4
million) and ($0.6 million) for Sterno, MidWest CBK and Boca Java,
respectively. In 2011, the Company recorded a loss on sale of MidWest CBK,
net of tax benefits of ($2.5) million.
(4) Represents a non-cash adjustment for the issuance of redeemable
preferred stock in excess of fair value.
The sum of the individual amounts may not necessarily equal to the totals
due to rounding.

SOURCE Blyth, Inc.

Website: http://www.blyth.com
Contact: Robert H. Barghaus, Chief Financial Officer, +1-203-661-1926, ext.
6668, or Jane F. Casey, Vice President & Treasurer, +1-203-661-1926, ext. 6619
 
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