Lifetime Brands Returns to Profit in 1st Quarter
Small appliance and housewares maker Lifetime Brands Inc. on Thursday posted a first-quarter profit, reversing a year-ago loss, helped by improvements in its U.S. wholesale business.
The company, whose brands include Farberware, KitchenAid and Cuisinart, said net income for the three months ended March 31 totaled $1.3 million, or 11 cents per share. That compares with a loss of $949 million, or 8 cents per share last year.
Revenue rose 19 percent to $109 million from $91.8 million last year.