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February 10, 2016 9:45 PM ET

Household Durables

Company Overview of Blyth, Inc.

Company Overview

Blyth, Inc., together with its subsidiaries, operates as a direct to consumer marketing company in the United States, Canada, Mexico, Europe, and Australia. The company operates through two segments: Candles & Home Décor and Catalog & Internet. The Candles & Home Décor segment sells candles, flameless and other home fragrance products, and related decorative accessories under the PartyLite and GloLite by PartyLite brand names through independent sales consultants. The Catalog & Internet segment develops and markets an array of decorative and functional household products, personalized products, gifts, food products, health and wellness products, and beauty products under the Miles Kimball, W...

One East Weaver Street

Greenwich, CT 06831

United States

Founded in 1976

1,600 Employees

Phone:

203-661-1926

Key Executives for Blyth, Inc.

Chief Executive Officer and Director
President and Chief Operating Officer
Age: 50
Founder and Executive Chairman
Age: 76
Chief Financial Officer and Vice President
Age: 63
President of Partylite North America
Compensation as of Fiscal Year 2015.

Blyth, Inc. Key Developments

Blyth,Inc. Announces Management Changes

Blyth Inc. will name Harry Slatkin as Chief Executive Officer and member of the Board of Directors. In 2011, Slatkin became Belstaff's Chief Executive Officer and Co-Chairman and spearheaded the plan that transformed Belstaff into a leading luxury lifestyle brand. The company also announced the appointment of Dan Chard as the new President and COO, effective immediately. Chard joins the company from Nu Skin, where he served as President of Global Sales and Operations.

Blyth, Inc. Announces Auditor Changes

Blyth, Inc. announced that on August 7, 2015, Ernst & Young LLP was dismissed as independent registered public accounting firm. On August 7, 2015, the company appointed BDO USA, LLP as independent registered public accounting firm for the fiscal year ending December 31, 2015. The decision to appoint BDO as independent registered public accounting firm was approved by the Audit Committee.

Blyth, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Blyth, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net sales were $87,989,000 compared to $104,233,000 for the same period a year ago. Operating loss was $7,097,000 compared to $2,136,000 for the same period a year ago. Loss from continuing operations before income taxes and non-controlling interest was $8,096,000 compared to $2,920,000 for the same period a year ago. Loss from continuing operations was $8,733,000 compared to $2,593,000 for the same period a year ago. Net loss attributable to company was $8,831,000 compared to $4,440,000 for the same period a year ago. Basic and diluted loss per share from continuing operations was $0.55 compared to $0.17 for the same period a year ago. Basic and diluted loss per share attributable to company was $0.55 compared to $0.28 for the same period a year ago. Non-GAAP normalized loss was $6,605,000 or $0.41 per diluted share compared to $2,680,000 or $0.17 per diluted share for the same period a year ago. Sales for the quarter continued to be negatively impacted by the strengthening U.S. Dollar, particularly against the euro, by approximately 8%, or $7.8 million. For the six months, the company reported net sales were $191,716,000 compared to $222,471,000 for the same period a year ago. Operating loss was $16,233,000 compared to $2,268,000 for the same period a year ago. Loss from continuing operations before income taxes and non-controlling interest was $20,643,000 compared to $4,197,000 for the same period a year ago. Loss from continuing operations was $21,110,000 compared to $3,229,000 for the same period a year ago. Net loss attributable to company was $21,299,000 compared to $7,202,000 for the same period a year ago. Basic and diluted loss per share from continuing operations was $1.32 compared to $0.21 for the same period a year ago. Basic and diluted loss per share attributable to company was $1.32 compared to $0.45 for the same period a year ago. Non-GAAP normalized loss was $16,300,000 or $1.01 per diluted share compared to $3,404,000 or $0.21 per diluted share for the same period a year ago.

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