Lifetime Brands reports positive second quarter

Lifetime Brands reported consolidated net sales of $120.9 million in the second quarter ended June 30, an increase of $5.6 million, or 4.9%, compared with consolidated net sales of $115.3 million in the year-ago period.

Net loss was $1.7 million in the second quarter, compared with a loss of $3.2 million in the second quarter of 2014.

Consolidated EBITDA was $4.4 million, compared with $1.5 million for the corresponding 2014 period.

“Lifetime’s financial results for the quarter were in line with our expectations,” said Jeffrey Siegel, Lifetime's chairman and CEO. “Our growth in sales and improved operating performance is attributable to our increased emphasis on product innovation and our continuing pursuit of productivity gains.”

Consolidated net sales were $238.6 million in the six months ended June 30, an increase of $4.9 million, or 2.1%, compared with net sales of $233.7 million for the corresponding period in 2014.

Net loss was $3.8 million in the six months ended June 30, compared with a loss of $6.1 million in the 2014 period.

Consolidated EBITDA was $6.9 million in the six months, compared with $5.2 million for the corresponding 2014 period.