Blyth Q2 Loss Widens On Weak ViSalus Results; Not To Declare Interim Dividend

(RTTNews) - Blyth, Inc. (NYSE: BTH), a direct to consumer company and marketer of candles and accessories, reported Friday that its second-quarter net loss attributable to the company was $4.44 million, compared to a loss of $1.36 million a year ago.

Loss per share was $0.28, compared to loss of $0.08 in the prior year period.

Net sales for the three months decreased approximately 25 percent to $157.79 million from $211.73 million a year ago.

In the Health & Wellness segment, ViSalus's second quarter net sales declined 47 percent, largely reflecting the reduced promoter base in North America.

Robert Goergen, Jr., Chief Executive Officer said, "Our second quarter results were affected mainly by ViSalus's decline in North American promoters versus the prior year. ViSalus management is focusing on rebuilding the North American market through leadership development programs while right-sizing the cost structure in North America to regain profitability, as well as building their international business. In the 2nd quarter, ViSalus continued its geographic expansion initiatives, opening in Ireland, with two additional markets planned to open this year and an additional seven markets in 2015."

Further, the company said that due to restrictions imposed on it by the indenture governing 6.00 percent Senior Notes due June 2017, the firm is unable to declare regular semi-annual dividend for the six month period ended June 30.