Blyth Plunges on Weak Guidance

Shares of

, the direct to consumer marketing firm, are plunging 14.6 percent Wednesday on volume that has already eclipsed the daily average after the company slashed its full-year earnings guidance. Blyth said it expects to earn $1.30-$1.45 per share this year, well below previous guidance of $1.70 - $1.85 per share. The company cited "the decline in ViSalus's sales projections and the full year impact of its investment spending on the lower sales base," according to a statement. "We believe that ViSalus has substantial growth potential outside North America, and opening new markets will in turn benefit ViSalus's North American Promoters given their networks in other countries,"

. The company said its first-quarter profit fell to $2.6 million, or 16 cents per share, from $7.5 million, or 43 cents a share, a year earlier. During the first quarter, Blyth repurchased 594,582 shares, or approximately 3.6 percent of its 16.6 million shares outstanding at year-end, according to the statement.