Lifetime Brands Posts $4.9 Million in Income

Lifetime Brands Inc. posted net income of $4.9 million for the third quarter, compared to a net loss of $1.1 million in the prior year.

The direct marketer and retailer reported net sales of $111.4 million for the quarter ended Sept. 30, a decrease from $140.6 million last year.

The company posted direct to consumer sales of $5.1 million for the quarter, a decrease from $6.5 million last year.

Management attributed these results in part to the company’s 2008 purchase of Mikasa and the discontinuance of certain low-margin items.