Blyth (BTH) Lowers Expected FY11 Reports EPS Outlook
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Blyth, Inc. (NYSE: BTH), commented on its outlook for the 12 months ending December 31, 2011.
Normalized Earnings Per Share for 2011 is anticipated to be in the range of $3.30 to $3.50. This guidance excludes the discontinued operations of Midwest-CBK and Boca Java, ViSalus equity incentive charges and an expected charge for restructuring related to PartyLite's North American operations. This guidance is the same as prior guidance as sales and earnings growth at ViSalus are expected to offset lower results at PartyLite. The change in fiscal year end reported earlier today is expected to have an insignificant impact on normalized earnings per share.
The 2011 guidance on a reported basis is $1.65 to $1.85 and compares to prior reported earnings per share guidance of $2.23 – $2.43. This guidance includes a loss from discontinued operations of $1.00, which is higher than previous guidance of $0.80 due to higher January 2011 losses from the Midwest-CBK and Boca Java businesses. The January 2011 losses now impact 2011 earnings guidance due to the change in the Company's fiscal year end. The ViSalus equity incentive charge of $0.50 is higher than previous guidance of $0.27 due to strong performance by ViSalus. This guidance also includes $0.15 per share expected for PartyLite restructuring.
Management also updated its expectations for cash flow from operations for 2011 to approximately $35 million versus prior guidance of $45 million, reflecting the settlement of various income tax audits. Capital spending is anticipated to be approximately $7 million for 2011.
Normalized Earnings Per Share for 2011 is anticipated to be in the range of $3.30 to $3.50. This guidance excludes the discontinued operations of Midwest-CBK and Boca Java, ViSalus equity incentive charges and an expected charge for restructuring related to PartyLite's North American operations. This guidance is the same as prior guidance as sales and earnings growth at ViSalus are expected to offset lower results at PartyLite. The change in fiscal year end reported earlier today is expected to have an insignificant impact on normalized earnings per share.
The 2011 guidance on a reported basis is $1.65 to $1.85 and compares to prior reported earnings per share guidance of $2.23 – $2.43. This guidance includes a loss from discontinued operations of $1.00, which is higher than previous guidance of $0.80 due to higher January 2011 losses from the Midwest-CBK and Boca Java businesses. The January 2011 losses now impact 2011 earnings guidance due to the change in the Company's fiscal year end. The ViSalus equity incentive charge of $0.50 is higher than previous guidance of $0.27 due to strong performance by ViSalus. This guidance also includes $0.15 per share expected for PartyLite restructuring.
Management also updated its expectations for cash flow from operations for 2011 to approximately $35 million versus prior guidance of $45 million, reflecting the settlement of various income tax audits. Capital spending is anticipated to be approximately $7 million for 2011.
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