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.
What: Shares of direct-to-consumer marketing company Blyth (NYSE: BTH ) dropped as much as 23% today after the company reported earnings. Revenue plunged 32% in the second quarter to $211.7 million and the company lost $3.2 million, or $0.20 per share. To make matters worse, management lowered full-year earnings guidance to $0.75 to $0.90 from a previous range of $1.30 to $1.45.
Now what: The lowered full-year guidance tells you all you need to know about where Blyth's business is headed right now. The ViSalus business is really struggling and there doesn't appear to be a turnaround in sight. I'd stay away from this stock given the earnings trajectory right now.
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Who’s the number one decliner in order? NEW YORK (AP) -- A look at the 10 biggest percentage decliners on New York Stock Exchange at the close of trading: Blyth Inc. fell 21.9 percent
Sell those shares ASAP!!! Blyth Inc. : Approximately 1,253,200 shares changed hands, a 662.6 percent increase over its 65-day average volume. The shares fell $3.11 or 21.9 percent
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.
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