latest news releases from the newsroom
Blyth, Inc. Reports Record 1st Quarter Sales & E.P.S.; Accretive Acquisition, Positive Currency Impact Led by Strong Euro and Direct Selling Operations Drive Growth Despite Challenging Market Conditions; Full Year, Fiscal 2004 E.P.S. Estimate Increased to in Excess of $2.10
GREENWICH, Conn., June 3, 2003 (PRIMEZONE) -- Blyth, Inc. (NYSE:BTH), a leader in home fragrance and decorative accents, today reported first quarter Net Sales of $312.0 million compared with $277.9 million a year earlier, an increase of 12%. Operating Profit for the first quarter was $34.3 million, an increase of 11% compared to $30.9 million in the prior year period. Net Earnings for the quarter increased 53% to $19.6 million versus $12.8 million a year earlier. Diluted Net Earnings Per Share for the first quarter were $0.42 per share compared to $0.28 per share for the same period last year, an increase of 50%. The increase in Net Earnings and Diluted Net Earnings Per Share is partly attributable to last year's adoption of SFAS 142, which reduced the carrying value of the goodwill related to the Company's 1997 acquisition of the Sterno(r) brand by $7.4 million as of February 1, 2002. This goodwill impairment was recorded as a cumulative effect of a change in accounting principle and reduced last year's first quarter net income by $4.5 million (after tax) or $0.10 per share. Excluding the effect of SFAS 142, last year's first quarter Earnings Per Share would have been $0.37.
Bruce Redditt Joins Scott Blum's Advisory Board for New Venture
SANTA MONICA, Calif., June 3, 2003 (PRIMEZONE) -- Scott Blum, whose third successful company Buy.com set the record for fastest growing company in U.S. history, today announced that Bruce Redditt -- Executive Vice President of the Omnicom Group -- has joined the Advisory Board for his upcoming direct response network, which includes the television show, BuyTV.
MTG Acquires Remaining Shares in TV3 Lithuania
STOCKHOLM, Sweden, June 3, 2003 (PRIMEZONE) -- Modern Times Group MTG AB (Nasdaq:MTGNY), the international media group, today announced that it has acquired the remaining 16 per cent of the shares in TV3 Lithuania, increasing its ownership to 100 percent. MTG owns 100% of TV3 in the other Baltic States of Estonia and Latvia.
Peab to Build New Cooperative Flats in Malmoe
FOERSLOEV, Sweden, June 3, 2003 (PRIMEZONE) -- Peab has won the contract to build 94 new cooperative flats at the Dockan area, close to the harbour in Malmoe. The client is JM and the contract amounts SEK 159 million. The general contract will start in June 2003 and it is supposed to be completed during the winter 2004-2005.
BAA -- Preliminary Results
LONDON, June 3, 2003 (PRIMEZONE) -- Indepth interview now available free on http://www.cantos.com with Mike Clasper, Chief Executive Designate in video, audio and text.
Crucell Expands Relationship with Merck & Co.
LEIDEN, Netherlands, June 3, 2003 (PRIMEZONE) -- Dutch antibody and vaccine company Crucell N.V. (Euronext:CRXL) (Nasdaq:CRXL) announced today that it has expanded the Cooperation Agreement made with Merck & Co. Inc. which relates to the PER.C6(tm) Cell Substrate Biologics Master File (BMF), BB-MF 8453 in the United States of America, and equivalents in other jurisdictions. The BMF is the regulatory dossier filed with the Food & Drug Administration (FDA). Licensees of Crucell's PER.C6(tm) cell technology platform refer to this BMF for their regulatory filings of PER.C6(tm)-based products.