February 01, 2010
Financial News, February 2010
Third Quarter Results
Blyth Inc. (BTH—NYSE) reported that net sales for the third quarter ended Oct. 31, 2009, declined approximately 10 percent on a local currency basis, with reported sales down 12 percent to $221.6 million compared to $250.8 million for the prior-year period. In the direct selling segment, third-quarter net sales declined 3 percent on a local currency basis, with reported U.S. dollar sales down 6 percent to $131.1 million, versus $139.2 million for the same period last year. PartyLite Europe’s third-quarter sales increased 14 percent in local currencies, which translated into a sales increase of 9 percent in U.S. dollars, driven by strong sales growth in Germany and France.
Blyth Inc., based in Greenwich, Conn., 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, as well as through the catalog, Internet and wholesale channels.
Educational Development Corporation
Educational Development Corporation (EDUC—Nasdaq) announced their quarterly cash dividend.
The board of directors has authorized a cash dividend of 10 cents per share. In addition, the board of directors has authorized a special one-time dividend of 5 cents to be paid concurrent with the regular dividend, due to the company’s strong cash position and no debt. The 15 cents per share total dividend will be paid on Dec. 18, 2009, to shareholders of record Dec. 11, 2009.
Educational Development Corporation sells children’s books, including Usborne Books and the Kane/Miller line of international children’s titles through a multilevel sales organization of independent consultants, through 5,000 retail stores and over the Internet. More than 1,600 different titles are available for children of all ages, with periodic new additions.
Direct Selling News has accumulated this information from public sources, including press releases and SEC filings. The information is presumed accurate and reliable. However, it is not an endorsement of any investment opportunity. Proper and considerable due diligence should be completed before making any investment.