Blyth, Inc. Updates Fiscal Year 2009 Results With No Change to Normalized Earnings
Higher E.P.S. Than Previously Reported Due to Tax Adjustment

GREENWICH, Conn., April 13, 2009 (GLOBE NEWSWIRE) -- Blyth, Inc. (NYSE:BTH), a leading designer and marketer of home fragrance and home decor products, today announced that it has updated its fiscal year 2009 results, announced on Friday, April 3, 2009, to reflect the impact of a $3.6 million, or $0.40 per share, favorable tax adjustment to the Company's previously reported fourth quarter and full year earnings. This favorable tax adjustment was non-operating related and had no impact on the Company's cash position.

Fourth quarter Net Income was increased by $3.6 million and includes $2.7 million of the favorable tax adjustment that was related to the third quarter impairment of intangible assets. The revised Diluted Earnings per Share for the fourth quarter were $1.49 this year compared to a loss of $1.12 last year. Excluding the impact of goodwill and other intangibles impairment charges in both years, as well as restructuring charges related to Blyth HomeScents International (BHI) for the current year and BHI's prior year losses, fourth quarter Earnings per Share remain unchanged from those previously reported at $1.42 this year versus $3.84 last year.

Net Loss for the full year reflecting the $3.6 million favorable adjustment was $15.5 million compared to Net Income of $11.1 million last year. The revised Diluted Earnings per Share were a loss of $1.73 compared to income of $1.14 last year. Included in this year's results are goodwill and other intangibles impairment charges of $48.8 million pre-tax, equating to $38.5 million after tax, or $4.29 per share. Also included in this year are costs totaling $1.9 million pre-tax, equating to $1.2 million after tax or $0.13 per share, associated with restructuring charges in the Wholesale segment and a charge of $5.2 million (pre-tax and after tax), or $0.58 per share, in the first quarter related to the write-off of the Company's investment in RedEnvelope. Included in last year's results were the aforementioned goodwill and other intangibles impairment charges of $49.2 million pre-tax, equating to $42.7 million after tax, or $4.38 per share. Also included last year were losses and restructuring charges related to BHI totaling $17.2 million pre-tax, equating to $11.2 million after tax, or $1.15 per share. Excluding these impairment and restructuring charges, Earnings per Share for the year remain unchanged from those previously reported and would have been $3.28 this year and $6.67 last year.

In an effort to assist the reader, a summary reconciliation of Generally Accepted Accounting Principles (GAAP) earnings and earnings per share to Non-GAAP earnings and earnings per share is presented in the attached table. 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. 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.

Blyth, Inc., headquartered in Greenwich, CT, USA, is a Home Expressions company that markets an extensive array of home fragrance products, decorative accessories, seasonal decorations and household convenience items. The Company sells its products through multiple channels of distribution, including the home party plan method of direct selling and one-on-one direct selling, as well as through the wholesale and catalog and Internet channels. Blyth also markets tabletop lighting and chafing fuel for the Away From Home or foodservice trade. The Company manufactures most of its candles and chafing fuel and sources nearly all of its other products. Its products are sold direct to the consumer under the PartyLite(r), Two Sisters Gourmet(r) and ViSalus Sciences(r) brands, to retailers in the premium and specialty retail channels under the Colonial Candle(r), CBK(r) and Seasons of Cannon Falls(r) brands, to retailers in the mass retail channel under the Sterno(r) brand, to consumers in the catalog and Internet channel under the As We Change(r), Miles Kimball(r), Exposures(r), Walter Drake(r), The Home Marketplace(r), Easy Comforts(r) and Boca Java(r) brands, and to the Foodservice industry under the Sterno(r), Ambria(r) and HandyFuel(r) brands. In Europe, Blyth's products are also sold under the PartyLite(r) brand.

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 include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical facts. Actual results could differ materially due to various factors, including the slowing of the United States or European economies or retail environments, the risk that we will be unable to maintain our historic growth rate, our ability to respond appropriately to changes in product demand, the risk that we will be unable to integrate the businesses that we acquire into our existing operations, the risks (including foreign currency fluctuations, economic and political instability, transportation delays, difficulty in maintaining quality control, trade and foreign tax laws and others) associated with international sales and foreign sourced products, risks associated with our ability to recruit new independent sales consultants, our dependence on key corporate management personnel, risks associated with the sourcing of raw materials for our products, competition in terms of price and new product introductions, risks associated with our information technology systems (including, susceptibility to outages due to fire, floods, power loss, telecommunications failures, computer viruses, break-ins and similar events) and other factors described in this press release and in the Company's Annual Report on Form 10-K for the year ended January 31, 2008.



                              BLYTH, INC.
               Consolidated Statements of Earnings (Loss)
                  (In thousands except per share data)
                              (Unaudited)


                         Three       Three       Twelve      Twelve
                         Months      Months      Months      Months
                         Ended       Ended       Ended       Ended
                       January 31, January 31, January 31, January 31,
                          2009        2008        2009        2008
                       ----------  ----------  ----------  ----------

 Net sales             $  313,354  $  373,843  $1,050,793  $1,164,950
 Cost of goods sold       135,826     165,611     473,577     549,479
   Gross profit           177,528     208,232     577,216     615,471
 Selling                  118,455     132,194     400,658     405,316
 Administrative and
  other                    30,760      30,739     123,779     130,090
 Goodwill and other
  intangible
  impairments               2,900      49,178      48,751      49,178
                       ----------  ----------  ----------  ----------
                          152,115     212,111     573,188     584,584
                       ----------  ----------  ----------  ----------
   Operating profit
    (loss)                 25,413      (3,879)      4,028      30,887
                       ----------  ----------  ----------  ----------

 Other expense (income)
   Interest expense         2,582       4,607      10,001      15,540
   Interest income         (1,009)     (1,632)     (4,261)     (7,635)
   Foreign exchange
    and other               3,806         923       9,813       1,257
                       ----------  ----------  ----------  ----------
                            5,379       3,898      15,553       9,162
                       ----------  ----------  ----------  ----------
 Earnings (loss) from
  continuing operations
  before income taxes
  and minority interest    20,034      (7,777)    (11,525)     21,725
 Income tax expense
  (benefit)                 6,740       2,607       3,840      10,547
                       ----------  ----------  ----------  ----------
   Earnings (loss)
    from continuing
    operations before
    minority interest      13,294     (10,384)    (15,365)     11,178
                       ----------  ----------  ----------  ----------
 Minority interest             27          25         115         106
                       ----------  ----------  ----------  ----------
 Net earnings (loss)   $   13,267  $  (10,409) $  (15,480) $   11,072
                       ==========  ==========  ==========  ==========

 Basic:
                       ----------  ----------  ----------  ----------
   Net earnings (loss)
    per common share   $     1.49  $    (1.13) $    (1.73) $     1.15
                       ==========  ==========  ==========  ==========
   Weighted average
    number of shares
    outstanding             8,903       9,205       8,971       9,648

 Diluted:
                       ----------  ----------  ----------  ----------
   Net earnings (loss)
    per common share   $     1.49  $    (1.12) $    (1.73) $     1.14
                       ==========  ==========  ==========  ==========
   Weighted average
    number of shares
    outstanding             8,917       9,283       8,971       9,732



                     Consolidated Balance Sheets
                           (In thousands)
                             (Unaudited)

                       January 31, January 31,
                          2009        2008
                       ----------  ----------

 Assets
   Cash and Cash
    Equivalents        $  146,424  $  163,021
   Short Term
    Investments                --      30,375
   Accounts Receivable,
    Net                    29,525      35,054
   Inventories            137,087     132,585
   Property, Plant &
    Equipment, Net        120,354     140,021
   Other Assets           140,713     166,366
                       ----------  ----------
                       $  574,103  $  667,422
                       ==========  ==========
                               
 Liabilities and
  Stockholders' Equity       
   Bank Debt           $    8,542  $    9,438
   Bond Debt              137,189     149,377
   Other Liabilities      179,874     209,539
   Stockholders' Equity   248,498     299,068
                       ----------  ----------
                       $  574,103  $  667,422
                       ==========  ==========


                             Blyth, Inc.
       Supplemental Non-GAAP Earnings (Loss) Per Share Measures
                 (In thousands, except per share data)
                             (Unaudited)


                         Three Months Ended      Three Months Ended
                          January 31, 2009        January 31, 2008
                         Dollars       EPS       Dollars       EPS
                       ----------  ----------  ----------  ----------

 Non-GAAP normalized
  earnings             $   12,694  $     1.42  $   35,674  $     3.84

 Non-GAAP Adjustments:

 Goodwill and other
  intangibles
  impairment (1)              853        0.10     (42,667)      (4.60)

 BHI loss from
  operation, loss on
  sale of business and
  restructuring              (280)      (0.03)     (3,416)      (0.37)

                       ----------  ----------  ----------  ----------
 GAAP net earnings     $   13,267  $     1.49  $  (10,409) $    (1.12)
                       ==========  ==========  ==========  ==========

 (1) This Non-GAAP adjustment reflects a favorable tax adjustment
 recorded on the impairment of Intangible assets of $3.6 million or
 $.41 per share, of which $2.7 million relates to an impairment charge
 taken in the third quarter of fiscal year 2009.

 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.

 The sum of the individual amounts does 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)

                        Twelve Months Ended     Twelve Months Ended
                          January 31, 2009        January 31, 2008
                         Dollars       EPS       Dollars       EPS
                       ----------  ----------  ----------  ----------

 Non-GAAP normalized
  earnings             $   29,377  $     3.28  $   64,909  $     6.67

 Non-GAAP Adjustments:

 Goodwill and other
  intangibles
  impairment (1)          (38,475)      (4.29)    (42,667)      (4.38)

 BHI loss from
  operation, loss on
  sale of business and
  restructuring            (1,196)      (0.13)    (11,170)      (1.15)

 Write-off of
  RedEnvelope
  investment               (5,186)      (0.58)         --          --
                       ----------  ----------  ----------  ----------
 GAAP net earnings     $  (15,480) $    (1.73) $   11,072  $     1.14
                       ==========  ==========  ==========  ==========

 (1) This Non-GAAP adjustment reflects an additional tax adjustment
 recorded on the impairment of Intangible assets of $3.6 million or
 $.40 per share, of which $2.7 million relates to an impairment charge
 taken in the third quarter of fiscal year 2009.

 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.

 The sum of the individual amounts does not necessarily equal to the
 totals due to rounding.
CONTACT:  Blyth, Inc. 
          Robert H. Barghaus, Chief Financial Officer
            (203) 661-1926, ext. 6668
          Tyler P. Schuessler, Vice President, Organizational
           Development & Investor Relations
            (203) 661-1926, ext. 6643
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