This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lifetime Brands Reports 2011 Financial Results

Lifetime Brands, Inc. (NasdaqGS: LCUT), a global provider of branded products used to prepare, serve and consume foods in the home, today reported its financial results for the fourth quarter and year ended December 31, 2011.

For the year ended December 31, 2011, consolidated net sales were $444.4 million, an increase of 0.3%, as compared to consolidated net sales of $443.2 million for 2010. Net income was $14.1 million, or $1.12 per diluted share, in 2011, as compared to $20.3 million, or $1.64 per diluted share, in 2010. Excluding acquisition-related expenses in 2011 and an extraordinary gain and a loss on early retirement of debt in 2010 and for both years the elimination of the effects of a reduction in income tax valuation allowances to reflect a normalized tax expense, adjusted net income was $14.5 million, or $1.16 per diluted share, in 2011, as compared to $14.6 million, or $1.18 per diluted share, in 2010.

For the fourth quarter of 2011, consolidated net sales were $137.6 million, a decrease of 3.5%, as compared to consolidated net sales of $142.6 million in the fourth quarter of 2010. Net income was $5.4 million, or $0.43 per diluted share, as compared to $13.9 million, or $1.07 per diluted share, in the prior-year period. Excluding acquisition-related expenses in 2011, an extraordinary gain in 2010 and in both periods the elimination of the effects of a reduction in income tax valuation allowances to reflect a normalized tax expense, adjusted net income was $6.5 million, or $0.52 per diluted share, for the fourth quarter of 2011, as compared to $7.9 million, or $0.62 per diluted share, for the same 2010 period.

Consolidated EBITDA for the year ended December 31, 2011 was $38.1 million, as compared to $42.9 million for the year ended December 31, 2010. Consolidated EBITDA for the three month period ended December 31, 2011 was $14.3 million, as compared to $17.5 million for the same 2010 period.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs