|By PR Newswire||
|November 6, 2012 06:55 PM EST||
GREENWICH, Conn., Nov. 6, 2012 /PRNewswire-FirstCall/ -- Blyth, Inc. (NYSE: BTH), a direct to consumer company and leading designer and marketer of candles, accessories for the home, and health and wellness products sold through the direct selling and direct marketing channels, today commented on its outlook for the year ending December 31, 2012. Reported earnings per share is expected to be $2.28 - $2.43 for the year ending December 31, 2012 compared to prior guidance of reported earnings per share of $2.47 - $2.62.
Robert B. Goergen, Blyth's Chairman of the Board and Chief Executive Officer, commented, "Our updated guidance for 2012 reflects lower sales and profits than previously anticipated, due in large part to the difficult global macroeconomic environment which continues to make forecasting the demand for discretionary consumer products challenging. Reduced consumer discretionary spending in North America and Europe is challenging for all our business units, particularly PartyLite Europe and, to a lesser extent, PartyLite North America. In addition, now that ViSalus has grown to be a substantial size business, we understand better the seasonality of weight management products, which are stronger in the first half of the year due to the post-holiday and pre-summer focus on weight management. As such, we have moderated our second half sales and earnings projections, which represent strong double-digit growth versus the prior year."
Ryan Blair, CEO of ViSalus noted further that, "Our belief in the North American growth opportunity was reinforced by the record Promoter attendance at last weekend's National Success Training in St. Louis. Moreover, we expect to enter Europe, our first market outside North America, in the first half of 2013. We believe international expansion offers a significant growth opportunity for ViSalus since most larger multi-level marketing companies derive at least 75% of their sales outside North America. Moreover, we believe the European marketplace is an opportune environment for ViSalus as our European neighbors are equally challenged by the obesity epidemic that is targeted so effectively by both the Body by Vi™ 90 Day Challenge and ViSalus' product offering."
Mr. Blair added that he would be prepared to outline the specifics of ViSalus' international expansion plan in early 2013 and that "the ViSalus Founders remain committed to working with our colleagues at Blyth to build ViSalus into a global household brand. We have successfully recruited a world-class management team that is equally committed to the long-term relationship with Blyth that will facilitate accomplishing this vision. Moreover, as significant Blyth shareholders, we look forward to formalizing the extension of our agreements with Blyth that allow us to participate in the growth and earnings potential of ViSalus while affording Blyth the opportunity to share in the cash flow generated by this rapidly growing and profitable business."
Mr. Goergen added, "We remain committed to maintaining a very healthy balance sheet and, with no net debt and strong cash flow, are in an excellent position to deploy our cash in the manner that will best serve our shareholders' interests, whether that is best accomplished by investing further in our existing business, such as bringing technology-based solutions to re-invigorate PartyLite, or through acquisitions, dividends, share repurchases or debt retirement."
Reported earnings per share include the following:
- ViSalus equity incentive plan charge of $0.30
- Restructuring charge related to PartyLite's North American operations of $0.08
- Fees related to the ViSalus IPO, which was withdrawn on September 26th, of $0.12
- An intangible impairment charge of $0.03 in the Catalog & Internet segment, and
- Gain related to the sale and income from discontinued operations of Sterno totaling $0.41.
Therefore, on a normalized basis, earnings per share is expected to be $2.40 to $2.55 for the year ended December 31, 2012 compared to prior guidance of $3.00 to $3.15.
Cash flow from operations for 2012 is expected to be approximately $65 million versus prior guidance of $85 million reflecting the impact of lower projected sales and IPO related fees. Capital spending is anticipated to be approximately $20 million.
Blyth, Inc., headquartered in Greenwich, CT, USA, is a direct to consumer business focused on direct selling and direct marketing channels. We design and market home fragrance products and decorative accessories, as well as weight management products, nutritional supplements and energy drink mixes. These products are sold through Direct Selling utilizing both home party plan and network marketing. The Company also designs and markets household convenience items and personalized gifts through the catalog/Internet channel. The Company manufactures most of its candles and sources nearly all of its other products. Its products are sold direct to the consumer under the PartyLite®, Two Sisters Gourmet by PartyLite® and ViSalus Sciences® brands and to consumers in the catalog/Internet channel under the As We Change®, Miles Kimball®, Exposures®, Walter Drake® and Easy Comforts® brands. In Europe, Blyth's products are also sold under the PartyLite 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 most recently filed Annual Report on Form 10-K.
SOURCE Blyth, Inc.
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
Oct. 10, 2015 04:00 AM EDT Reads: 580
The broad selection of hardware, the rapid evolution of operating systems and the time-to-market for mobile apps has been so rapid that new challenges for developers and engineers arise every day. Security, testing, hosting, and other metrics have to be considered through the process. In his session at Big Data Expo, Walter Maguire, Chief Field Technologist, HP Big Data Group, at Hewlett-Packard, will discuss the challenges faced by developers and a composite Big Data applications builder, foc...
Oct. 10, 2015 04:00 AM EDT Reads: 508
The cloud has reached mainstream IT. Those 18.7 million data centers out there (server closets to corporate data centers to colocation deployments) are moving to the cloud. In his session at 17th Cloud Expo, Achim Weiss, CEO & co-founder of ProfitBricks, will share how two companies – one in the U.S. and one in Germany – are achieving their goals with cloud infrastructure. More than a case study, he will share the details of how they prioritized their cloud computing infrastructure deployments ...
Oct. 10, 2015 03:00 AM EDT Reads: 753
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Oct. 10, 2015 03:00 AM EDT Reads: 325
Data loss happens, even in the cloud. In fact, if your company has adopted a cloud application in the past three years, data loss has probably happened, whether you know it or not. In his session at 17th Cloud Expo, Bryan Forrester, Senior Vice President of Sales at eFolder, will present how common and costly cloud application data loss is and what measures you can take to protect your organization from data loss.
Oct. 10, 2015 03:00 AM EDT Reads: 591
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, will provide an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
Oct. 10, 2015 02:15 AM EDT Reads: 764
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
Oct. 10, 2015 02:00 AM EDT Reads: 654
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Oct. 10, 2015 02:00 AM EDT Reads: 312
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
Oct. 10, 2015 02:00 AM EDT Reads: 579
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Oct. 10, 2015 01:00 AM EDT Reads: 774
Achim Weiss is Chief Executive Officer and co-founder of ProfitBricks. In 1995, he broke off his studies to co-found the web hosting company "Schlund+Partner." The company "Schlund+Partner" later became the 1&1 web hosting product line. From 1995 to 2008, he was the technical director for several important projects: the largest web hosting platform in the world, the second largest DSL platform, a video on-demand delivery network, the largest eMail backend in Europe, and a universal billing syste...
Oct. 10, 2015 01:00 AM EDT Reads: 245
SYS-CON Events announced today that Spirent Communications, the leader in testing navigation and positioning systems, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Spirent Communications enables innovations in communications technologies that help connect people. Whether it is service provider, data centers, enterprise IT networks, mobile communications, connected vehicles or the Inte...
Oct. 10, 2015 01:00 AM EDT Reads: 202
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Oct. 10, 2015 12:00 AM EDT Reads: 267
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Oct. 10, 2015 12:00 AM EDT Reads: 176
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
Oct. 10, 2015 12:00 AM EDT Reads: 221