Total retail sales of Lifetime Brands up 63% in 2005
03 Mar '06
3 min read
Leading designer, developer and marketer of a broad range of nationally branded consumer products used in the home Lifetime Brands announced results for the three months and full year ended December 31, 2005.
Financial and Operating Highlights
- Net sales for 2005 increased 63 percent to $307.9 million. Net income for the year rose 66 percent to $14.1 million. Net income per diluted share increased 64 percent to $1.23.
- Net sales for the fourth quarter of 2005 increased 83 percent to $124.4 million. Net income for the quarter rose 35 percent to $7.2 million. Net income per diluted share increased 28 percent to $0.60.
- During the year, Lifetime achieved significant internal growth in all of its major product categories.
- During the quarter, the Company completed its integration of the Pfaltzgraff business it acquired in July 2005 and restructured Pfaltzgraff's supply chain to reduce the cost of products while keeping quality high.
Jeffrey Siegel, Chairman, President and Chief Executive Officer, commented, "2005 was an outstanding year for our Company. Even before taking into account the contributions of the Pfaltzgraff and Salton businesses we acquired in 2005, our sales and earnings set records for both the year and the fourth quarter.
"Our results for the year, as well as for the fourth quarter, reflect dynamic growth in our cutlery and kitchenware categories, which was powered by a successful rollout of KitchenAid(R) cutlery, increased retail placement of our expanded line of Farberware(R) cutlery and increased distribution of KitchenAid(R) and Farberware(R) tools and gadgets.
marketing@alchempro.com
