Earnings briefs
Baldwin Technology Co. Inc.
Despite a 14 percent drop in sales in the fiscal year ending June 30, Baldwin Technology Co. Inc., the Shelton-based company expects growth in the coming year thanks in part to its recent acquisition of Nordson Corp., whose products are used to dry paper rolling off printing presses.
Baldwin Tech sells a range of printing press accessories. In the company”™s fourth fiscal quarter, sales were off 2 percent to $37 million, and earnings totaled $1.4 million. For the full fiscal year, Baldwin earned $5 million on $152 million in revenue.
“We are excited with our acquisition of the graphic arts (ultraviolet) curing business of Nordson Corp.” said Karl Puehringer, CEO of Baldwin Tech, in a prepared statement. “This complements our (infrared) drying portfolio and is in line with our strategy to strengthen the company”™s position as a leader of process automation in print. This acquisition also facilitates the company”™s entry into the fast growing digital printing sector of graphic arts.”
Blyth Inc.
Blyth Inc. sales dropped 9 percent from a year ago, partly the result of the company having 2,000 fewer sales representatives compared with a year ago.
Greenwich-based Blyth uses home-based agents to sell household products like scented candles through its PartyLite division, and nutrition supplements through ViSalus Sciences. The company also owns several catalog product lines.
In the second fiscal quarter ending July 31, Blyth earned $700,000 on $181 million in revenue.
“Ongoing home foreclosures and significant unemployment and underemployment in the U.S. are clearly impacting our consumer business units,” said Bob Goergen, CEO of Blyth, in a prepared statement. “In spite of that, restructuring and gross margin improvement initiatives were successful in supporting profit growth during the second quarter.”