Chief executive Jeffrey Siegel, in Lifetime’s Garden City showroom, says...

Chief executive Jeffrey Siegel, in Lifetime’s Garden City showroom, says low- and middle-income consumers were not in much of a buying mood for discretionary decor items, “and that business has suffered.” (Nov. 16, 2010) Credit: Danny Ghitis, 2010

The kitchen and dining goods company Lifetime Brands Inc., of Garden City, has turned a profit and increased its sales by more than 18 percent, the company reported Thursday.

For its first quarter, ended March 31, the maker of Farberware, Cuisinart and other brands reports $1.3 million profit on $109 million in revenue, with per-share income of 11 cents. That compares to its report for the same quarter last year, when it had a loss of $949,000 on $91.7 million sales, with a per-share loss of 8 cents.

Net income increased to $1.344 million, compared to a loss of $949 thousand for the same period in 2011.

With 1,150 workers, Lifetime has a market capitalization of about $145 million. Its shares, which were not active premarket Thursday, closed Wednesday at $11.67, and had a 52-week range of $8.46 to $15.30.

“Lifetime’s financial results for the quarter provided a strong and an encouraging start to the year,” chief executive Jeffrey Siegel said in a prepared statement.

“Our performance in the quarter was driven by our core U.S. wholesale businesses, kitchenware and tabletop, which recorded an 11.1 percent increase in net sales, all of which was organic," Siegel said, meaning that the U.S. wholesale revenue numbers were not augmented by acquisitions during the quarter.

Siegel said the gains "were primarily attributable to new programs with our key retailer partners."

He added that foreign sales went according to plan, including sales by U.K.-based Creative Tops, which the company bought in November 2011; and Lifetime's partner companies in North and South America, and China.

In addition to Farberware and Cuisinart, the company's brands include Mikasa, KitchenAid, CasaModa, Cuisine de France, Guy Fieri, Hoffritz, Kizmos, Misto, Pedrini, Roshco, Sabatier, Savora and Vasconia, Pfaltzgraff, Creative Tops, Calvin Klein, Gorham, International Silver, Kirk Stieff, Nautica, Sasaki, Towle Silversmiths, Tuttle, Wallace, V&A and Royal Botanic Gardens Kew, Elements, Melannco, Kamenstein and Design for Living.

Photo: Jeffrey Siegel, Lifetime Brands chairman, president and chief executive.

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