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Blyth sees strong FY12 adjusted profit, shares rise
March 14, 2012 / 2:37 PM / 6 years ago

Blyth sees strong FY12 adjusted profit, shares rise

(Reuters) - Blyth Inc BTH.N posted a higher quarterly profit, helped by continued growth in its health and wellness segment, and the candle maker forecast a strong full-year adjusted earnings.

Shares of the Greenwich, Connecticut-based company rose as much as 14 percent to a more-than-three-year high.

The company, which sells candles under Colonial Candle, PartyLite and Ambria brands among others, now sees full-year adjusted earnings of $5 a share to $5.25 a share.

For the fourth-quarter, Blyth posted a profit of $25.6 million, or $3.08 per share, compared with $21.9 million, or $2.64 per share, a year ago.

Revenue rose 23 percent to $365 million.

Sales at ViSalus -- which sells weight management products, nutritional supplements and energy drinks in the United States through independent distributors -- rose nearly seven times during the quarter.

Shares were trading up 13 percent at $77.74, after touching a high of $78.35 on Wednesday on the New York Stock Exchange.

Reporting by Meenakshi Iyer in Bangalore; Editing by Sriraj Kalluvila

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