Draper, UT -- (SBWIRE) -- 10/17/2013 -- Today reported sales and earnings for the second quarter of 2013. Net sales for the three months ended June 30, 2013 decreased approximately 32% to $211.7 million from $309.5 million for the comparable prior year period, primarily due to lower sales at ViSalus and, to a lesser extent, at PartyLite, Blyth's operating profit would have been $27.7 million last year versus $1.2 million this year. Mr. Goergen added, "We are experiencing the cost impact of investments made in ViSalus over the last twelve months combined with the effects of a decline in the number of North American Promoters.
Blyth's operating profit for the second quarter was $1.2 million this year versus $17.8 million last year, largely driven by the decline in sales.
~ A $17.8 drop to $1.2 – ouch!
Net Loss Attributable to Blyth, Inc. was $1.4 million for the three months ended June 30, 2013 compared to earnings of $8.0 million in the comparable prior year period.
~ From + $8 million to negative $1.4 million = $9.4 million concerns.
Net Loss Attributable to Blyth, Inc. Common Stockholders was $3.2 million for the three months ended June 30, 2013
Blyth lost money in its second quarter on weak sales and direct sales company slashed its full-year earnings outlook, sending shares tumbling nearly 23 percent to a multiyear low Friday. Stripping out dividends paid to ViSalus stakeholders in excess of income earned, Blyth Inc. lost 8 cents per share. The company lost $3.2 million, or 20 cents per share, for the period ended June 30. Revenue for the Greenwich, Conn., company fell 32 percent to $211.7 million from $309.5 million, mostly due to a 47 percent sales decline at its ViSalus business. For the year, Blyth now expects earnings of 75 cents to 90 cents per share. Its prior guidance called for earnings of $1.30 to $1.45 per share. The company said that the revised outlook is mostly due to a decline in ViSalus' sales expectations.
Blyth's stock slid $3.21, or 22.6 percent, to $10.99 in midday trading. The shares fell to $10.93 earlier
About MXI Corp
Established in 2005, Marketing Xocolate International Corporation (MXI-Corp) is the world leader in great tasting, healthy, dark, chocolate products. MXI Corp was founded upon the same solid foundation that the Brooks’ family used to build their enormous Pure Delite Low Carb Chocolate company (circa 2000) which had retail sales in Wal-Mart, 7-Eleven, Rite-Aid and Walgreen’s of over $300,000,000. All MXI products are focused on potent doses of delicious, antioxidant-rich Belgian cacao. MXI-Corp believes that the high levels of natural antioxidants and Polyphenols that are found in its cacao can provide a viable solution to individual nutritional needs. The Xoçai™ (sho-sigh) line, which currently includes nine products, is manufactured utilizing a cold-press process, which preserves the nutritional values of the company's proprietary blends of vitamins and minerals. MXI is recognized as the category creator and world leader in healthy chocolate. The vision of Xoçai is to transform and improve individual lives worldwide through its unique chocolate products. One unique element of the company’s formulations is their proprietary high-antioxidant blend of cacao, açaí and blueberries, called XoVita™. The Xovita ingredient combination is exclusive to Xoçai. Nevada-based MXI-Corp is a privately held company. Xoçai's nine chocolate products have the highest ORAC (antioxidant-measuring test) and flavonoid rich products available on the market. The Brooks family, owners and operators of MXI-Corp, have total combined chocolate sales of more than $1 billion. MXI Corp is now operating internationally in 41 countries. Adam@adamPaulGreen.com www.adampaulgreen.com/partnership