Blyth, Inc. generated net earnings of $30.2 million during third quarter 2004, a drop from the $34.8 million it reported a year ago. The company’s sales ticked up from $431.9 million a year ago to $439.4 million for the quarter ended Oct. 31.
Most of the sales increase was spurred by Blyth’s addition of Walter Drake in December 2003, and by its purchases of Edelman and Euro-Décor in Sept. 2004. But the home fragrance and décor marketer’s sales were offset by softness in its hosted-party sales.
Within the company’s catalog and Internet sales division, revenue jumed by more than 50%, due to the Walter Drake acquisition. But its third-quarter operating profit of $3.4 million was below corporate estimates, although higher than the $2.7 million it realized a year ago.
