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Income from operations for the three months ended June 30, 2011, was $4.4 million, compared to $2.5 million for the corresponding period in 2010. The increase in income from operations reflected lower distribution expense and a reduction in selling, general and administrative expenses in the 2011 period, vs. the corresponding period in 2010.
“The net income we are reporting this morning is a second quarter record for Lifetime Brands,” said Jeffrey Siegel, chairman, president and CEO. “Despite the challenging business environment, we are on target to achieve top line growth and increased profitability for the full year. Our solid operating results and further strengthened financial position give us better flexibility to profitably grow our company in the future.”
For more information, visit www.lifetimebrands.com.