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Lifetime Brands net sales rise, loss narrows

The Trap Door Colander is demonstrated on March

The Trap Door Colander is demonstrated on March 1, 2012. It is among the many products invented and developed by Garden City-based Lifetime Brands. Photo Credit: Nancy Borowick

Garden City-based Lifetime Brands Inc. reported higher net sales and a narrower loss for the second quarter ended June 30.

The global provider of branded kitchenware, tableware and other products, including Farberware and KitchenAid, reported consolidated net sales of $120.9 million for the quarter, an increase of 4.9 percent from $115.3 million during the same quarter last year.

Lifetime Brands' net loss for the second quarter shrank to $1.7 million from $3.2 million during the year-earlier period. The company posted an adjusted net loss of $0.6 million, or 4 cents per diluted share, for the quarter, compared with an adjusted loss of $3.1 million -- 23 cents per diluted share -- in the corresponding period in 2014.

Adjustments include acquisition-related expenses, restructuring expenses and investments.

Shares of Lifetime Brands closed Thursday at $15.10 on the Nasdaq Stock Market, up 65 cents, or 4.5 percent. The company reported its earnings before the markets opened.

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