Greenwich-based Blyth Inc., maker of home decorative and fragrance products, said today that a favorable tax adjustment boosted its previously reported fiscal fourth-quarter profit by $2.7 million.
The tax adjustment of $3.6 million, or 40 cents per share, did not affect its cash position, the home decorative and fragrance products maker said.
Earlier this month Blyth reported earnings of $9.7 million, or $1.08 per share. With the tax adjustment, the company’s fourth-quarter net income is $1.49 per share.
For the full year, Blyth previously posted a loss of $19.1 million, or $2.13 per share. Revised for the tax adjustment, the company’s loss is $15.5 million, or $1.73 per share.
The company’s adjusted earnings per share remained unchanged at $1.42 for the fourth quarter and $3.28 for the year. (AP)
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