Total retail sales of Lifetime Brands up 63% in 2005
03 Mar '06
3 min read
"Over the past several months, we completed the integration of the Pfaltzgraff and Salton businesses, which have firmly established Lifetime as a leader in the important tabletop category. We have applied Lifetime's extensive overseas sourcing expertise for Pfaltzgraff, and have made good progress in reducing the cost of merchandising while keeping product quality at the same high level.
"We expect that, in 2006, we will see growth across all the Company's major brands, products and customer base. This growth will be driven by our relentless commitment to innovation and new product development. At the 2006 International Home & Housewares Show, to be held in Chicago later this month, Lifetime will introduce approximately 825 new items. For the year, we expect to introduce approximately 1,400 new SKUs - double last year's number.
"Overall, we are very pleased with the strength of our business, and are especially gratified by the strong organic sales momentum we achieved in the fourth quarter. As a result, our outlook for 2006 remains extremely positive. As we announced in January 2006, we expect net sales for the year to range from $380 million to $400 million, and earnings per share to range from $1.45 to $1.70."
Lifetime has scheduled a conference call Thursday, March 2, at 11:00 a.m. Eastern time to discuss fourth-quarter 2005 results and additional matters. The dial-in number for the call is (706) 634-1218. A replay of the call will also be available through Thursday, March 9, and can be accessed by dialing (706) 645-9291, conference ID #4201405. A live webcast of the call will be broadcast at the Company's web site, www.lifetimebrands.com. For those who cannot listen to the live broadcast, an audio replay of the call will also be available on the site.
marketing@alchempro.com
