Lifetime Brands Posts Income, Sales Gain in Q3
November 4, 2010,
GARDEN CITY, N.Y.-Lifetime Brands reported double-digit increases in earnings and sales for the third quarter ended Sept. 30, 2010.
Consolidated net income grew by 35 percent to $6.6 million, compared to $4.9 million in the prior year quarter. Consolidated net sales were $124.9 million, an increase of 12 percent compared to consolidated net sales of $111.4 million in the corresponding period in 2009.
Siegel also said that, based on the company's current order flow, the company anticipates net wholesale sales in the fourth quarter of 2010 to exceed those reported in the fourth quarter of 2009 by approximately 9 to 10 percent. If that goal is achieved, the company's full year net wholesale sales would exceed those of the prior year by approximately 6 percent, Siegel said.