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 UNITED STATES

| x      | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  |
|--------|----------------------------------------------------------------------------------------------------|
|   |                                                                                               |
|   | For the quarterly period ended April 30, 2010                                                      |
|   |                                                                                               |
| or     |
|   |                                                                                               |
| o      | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|   DELAWARE                                                                                                                         | 36-2984916                                          |
|----------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|
|              (State or other jurisdiction of incorporation or organization) |    (IRS Employer Identification No.) |

| One East Weaver Street, Greenwich, Connecticut 06831 |
|------------------------------------------------------|
| (Address of principal executive offices)             | (Zip Code) |

| Large accelerated filer o Non-accelerated filer o | Accelerated filer x Smaller reporting company o |
|--------------------------------------------------------|------------------------------------------------------|

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|                                           |                                                                                  | Page   |   |
|------------------------------------------------|---------------------------------------------------------------------------------------|--------|--------|
|                                           |                                                                                  |   |   |
| Part I.   Financial Information |                                                                                  |   |
|                                           |                                                                                  |   |   |
| Item 1.                                        | Financial Statements (Unaudited):                                                     |   |   |
|                                           |                                                                                  |   |   |
|                                           | Consolidated Balance Sheets                                                           | 3      |   |
|                                           |                                                                                  |   |   |
|                                           | Consolidated Statements of Earnings                                                   | 4      |   |
|                                           |                                                                                  |   |   |
|                                           | Consolidated Statements of Stockholders' Equity                                       | 5      |   |
|                                           |                                                                                  |   |   |
|                                           | Consolidated Statements of Cash Flows                                                 | 6      |   |
|                                           |                                                                                  |   |   |
|                                           | Notes to Consolidated Financial Statements                                            | 7-21   |   |
|                                           |                                                                                  |   |   |
| Item 2.                                        | Management's Discussion and Analysis of Financial Condition and Results of Operations | 22-26  |   |
|                                           |                                                                                  |   |   |
| Item 3.                                        | Quantitative and Qualitative Disclosures About Market Risk                            | 27-28  |   |
|                                           |                                                                                  |   |   |
| Item 4.                                        | Controls and Procedures                                                               | 29     |   |
|                                           |                                                                                  |   |   |
| Part II.   Other Information    |                                                                                  |   |
|                                           |                                                                                  |   |   |
| Item 1.                                        | Legal Proceedings                                                                     | 30     |   |
|                                           |                                                                                  |   |   |
| Item 1A.                                       | Risk Factors                                                                          | 30     |   |
|                                           |                                                                                  |   |   |
| Item 2.                                        | Unregistered Sales of Equity Securities and Use of Proceeds                           | 31     |   |
|                                           |                                                                                  |   |   |
| Item 3.                                        | Defaults upon Senior Securities                                                       | 31     |   |
|                                           |                                                                                  |   |   |
| Item 4.                                        | Removed and Reserved                                                                  | 32     |   |
|                                           |                                                                                  |   |   |
| Item 5.                                        | Other Information                                                                     | 32     |   |
|                                           |                                                                                  |   |   |
| Item 6.                                        | Exhibits                                                                              | 32     |   |
|                                           |                                                                                  |   |   |
|                                           |                                                                                  |   |   |
| Signatures                                     |                                                                                  | 33     |   |
|                                           |                                                                                  |   |   |

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| Part I.   FINANCIAL  INFORMATION                                                                    |   |      |         |   |        |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|-----------|--------------|--------|-------------|--------|
| Item I.   FINANCIAL STATEMENTS                                                                                |   |      |         |   |        |   |
| BLYTH, INC. AND SUBSIDIARIES                                                                                                 |   |
| CONSOLIDATED BALANCE SHEETS                                                                                                  |   |
| (Unaudited)                                                                                                                  |   |
|                                                                                                                         |   | April 30, |         |   | January 31, |   |
|                                                                                                                         |   | 2010      |         |   | 2010        |   |
| (In thousands, except share and per share data)                                                                              |   |      |         |   |        |   |
| ASSETS                                                                                                                       |   |      |         |   |        |   |
| Current assets:                                                                                                              |   |      |         |   |        |   |
| Cash and cash equivalents                                                                                                    |   | $         | 173,364      |   |        | $      | 207,394 |   |
| Short-term investments                                                                                                       |   |      | 10,000       |   |        |   | 5,000 |   |
| Accounts receivable, less allowance for doubtful receivables of $1,860 and $2,243, respectively                              |   |      | 23,405       |   |        |   | 18,694 |   |
| Inventories                                                                                                                  |   |      | 106,762      |   |        |   | 102,203 |   |
| Prepaid and other                                                                                                            |   |      | 29,617       |   |        |   | 23,997 |   |
| Deferred income taxes                                                                                                        |   |      | 137          |   |        |   | 6,769 |   |
|        Total current assets                                                               |   |      | 343,285      |   |        |   | 364,057 |   |
| Property, plant and equipment, at cost:                                                                                      |   |      |         |   |        |   |   |   |
|    Less accumulated depreciation of $203,774 and $202,808, respectively                                       |   |      | 104,783      |   |        |   | 107,987 |   |
| Other assets:                                                                                                                |   |      |         |   |        |   |   |   |
| Investments                                                                                                                  |   |      | 18,003       |   |        |   | 19,072 |   |
| Goodwill                                                                                                                     |   |      | 2,298        |   |        |   | 2,298 |   |
| Other intangible assets, net of accumulated amortization of $12,538 and $12,254, respectively                                |   |      | 11,892  |   |        |   | 12,176  |   |
| Other assets                                                                                                                 |   |      | 20,447       |   |        |   | 17,403 |   |
|        Total other assets                                                                 |   |      | 52,640       |   |        |   | 50,949 |   |
|        Total assets                                                                       |   | $         | 500,708      |   |        | $      | 522,993 |   |
| LIABILITIES AND EQUITY                                                                                                       |   |      |         |   |        |   |   |   |
| Current liabilities:                                                                                                         |   |      |         |   |        |   |   |   |
| Current maturities of long-term debt                                                                                         |   | $         | 1,188        |   |        | $      | 582 |   |
| Accounts payable                                                                                                             |   |      | 42,930       |   |        |   | 57,338 |   |
| Accrued expenses                                                                                                             |   |      | 65,361       |   |        |   | 60,895 |   |
| Dividends payable                                                                                                            |   |      | 885          |   |        |   | 8,826 |   |
| Income taxes payable                                                                                                         |   |      | 2,784        |   |        |   | 4,913 |   |
|        Total current liabilities                                                          |   |      | 113,148      |   |        |   | 132,554 |   |
| Deferred income taxes                                                                                                        |   |      | 1,617        |   |        |   | 686 |   |
| Long-term debt, less current maturities                                                                                      |   |      | 109,821      |   |        |   | 109,962 |   |
| Other liabilities                                                                                                            |   |      | 24,313       |   |        |   | 24,984 |   |
| Commitments and contingencies                                                                                                |   |      | -            |   |        |   | - |   |
| Redeemable noncontrolling interest                                                                                           |   |      | (1,931       | )      |        |   | (1,470 | ) |
| Stockholders' equity:                                                                                                        |   |      |         |   |        |   |   |   |
| Preferred stock - authorized 10,000,000 shares of $0.01 par value; no shares issued                                          |   |      | -            |   |        |   | - |   |
| Common stock - authorized 50,000,000 shares of $0.02 par value; issued 12,782,565 shares and 12,765,919 shares, respectively |   |      | 256     |   |        |   | 255  |   |
| Additional contributed capital                                                                                               |   |      | 145,217      |   |        |   | 144,233 |   |
| Retained earnings                                                                                                            |   |      | 498,146      |   |        |   | 494,524 |   |
| Accumulated other comprehensive income                                                                                       |   |      | 13,647       |   |        |   | 20,591 |   |
| Treasury stock, at cost,  3,976,635 and 3,972,112 shares, respectively                                             |   |      | (403,549     | )      |        |   | (403,329 | ) |
|        Total stockholders' equity                                                         |   |      | 253,717      |   |        |   | 256,274 |   |
| Noncontrolling interest                                                                                                      |   |      | 23           |   |        |   | 3 |   |
|        Total  equity                                                            |   |      | 253,740      |   |        |   | 256,277 |   |
|        Total liabilities and equity                                                       |   | $         | 500,708      |   |        | $      | 522,993 |   |
| The accompanying notes are an integral part of these financial statements.                                                   |   |

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| BLYTH, INC. AND SUBSIDIARIES                                                         |   |
|--------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF EARNINGS                                                  |   |
| (Unaudited)                                                                          |   |
| Three months ended April 30 (In thousands, except per share data)                    |   | 2010 |   |   | 2009 |   |
| Net sales                                                                            |   | $ | 201,545 |   |   | $ | 214,724 |   |
| Cost of goods sold                                                                   |   |   | 86,344 |   |   |   | 96,922 |   |
|     Gross profit                                                 |   |   | 115,201 |   |   |   | 117,802 |   |
| Selling                                                                              |   |   | 78,535 |   |   |   | 85,417 |   |
| Administrative and other                                                             |   |   | 29,603 |   |   |   | 26,599 |   |
|     Total operating expense                                      |   |   | 108,138 |   |   |   | 112,016 |   |
|     Operating profit                                             |   |   | 7,063 |   |   |   | 5,786 |   |
| Other expense (income):                                                              |   |   |   |   |   |   |   |   |
|      Interest expense                                       |   |   | 1,757 |   |   |   | 2,180 |   |
|      Interest income                                        |   |   | (288 | ) |   |   | (551 | ) |
|      Foreign exchange and other                             |   |   | (156 | ) |   |   | (468 | ) |
|      Total other expense                                    |   |   | 1,313 |   |   |   | 1,161 |   |
|      Earnings before income taxes                           |   |   | 5,750 |   |   |   | 4,625 |   |
| Income tax expense                                                                   |   |   | 1,648 |   |   |   | 2,201 |   |
|      Net earnings                                           |   |   | 4,102 |   |   |   | 2,424 |   |
| Net loss attributable to the noncontrolling interests                                |   |   | (405 | ) |   |   | (367 | ) |
|     Net earnings attributable to Blyth, Inc.                     |   |   | 4,507 |   |   |   | 2,791 |   |
| Less: Accretion of redeemable noncontrolling interest in excess of fair value        |   |   | - |   |   |   | 356 |   |
|     Net earnings attributable to Blyth, Inc. common stockholders |   | $ | 4,507 |   |   | $ | 2,435 |   |
| Basic:                                                                               |   |   |   |   |   |   |   |   |
| Net earnings attributable per Blyth, Inc. common share                               |   | $ | 0.51 |   |   | $ | 0.27 |   |
| Weighted average number of shares outstanding                                        |   |   | 8,832 |   |   |   | 8,912 |   |
| Diluted:                                                                             |   |   |   |   |   |   |   |   |
| Net earnings attributable per Blyth, Inc. common share                               |   | $ | 0.51 |   |   | $ | 0.27 |   |
| Weighted average number of shares outstanding                                        |   |   | 8,872 |   |   |   | 8,925 |   |
| Cash dividend declared per share                                                     |   | $ | 0.10 |   |   | $ | 0.10 |   |
| The accompanying notes are an integral part of these financial statements.           |   |

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|                                                                      BLYTH, INC. AND SUBSIDIARIES               |   |                       |   |   |        |   |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|--------|-------------|--------|---------|
|                                                                      CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY |   |                       |   |   |        |   |    |
|                                                                     (Unaudited)                                      |   |                       |   |   |        |   |    |
| (In thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Blyth, Inc.'s Stockholders |   |   |        |   |    |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                       |   |   |        |   |    |   |   |   | Accumulated |   |   |   |   |   |   |   |   |   |   |   | Redeemable |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                       |   |   | Additional  |   |    |   |   |   | Other |   |   |   |   |   |   |   |   |   |   |   | Noncontrolling |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Common                     |   |   | Contributed |   |    | Retained |   |   | Comprehensive |   |   | Treasury |   |   | Noncontrolling |   |   | Total |   |   | Interest |   |   | Comprehensive |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Stock                      |   |   | Capital     |   |    | Earnings |   |   | Income (Loss) |   |   | Stock |   |   | Interest |   |   | Equity |   |   | (Temporary Equity) |   |   | Income (Loss) |   |
| For the three months ended April 30, 2009:                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, February 1, 2009                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                          | 255    |   |        | $      | 141,307 |   |   | $ | 486,548 |   |   | $ | 19,366 |   |   | $ | (398,978 | ) |   | $ | - |   |   | $ | 248,498 |   |   | $ | 893 |   |   |   |   |
| Net earnings (loss) for the period                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                       |   |   |        |   |    |   |   |   | 2,791 |   |   |   |   |   |   |   |   |   |   |   | 31 |   |   |   | 2,822 |   |   |   | (398 | ) |   | $ | 2,424 |   |
| Distribution to noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (67 | ) |   |   | (67 | ) |   |   |   |   |   |   |   |   |
| Foreign currency translation adjustments (net of tax liability of $461)                                                                                                                                                                                                                                                                                                                                                                                   |   |                       |   |   |        |   |    |   |   |   |   | (7,808 | ) |   |   |   |   |   |   |   |   |   |   | (7,808 | ) |   |   |   |   |   |   | (7,808 | ) |
| Net unrealized loss on certain investments (net of tax liability of  $192)                                                                                                                                                                                                                                                                                                                                                                                |   |                       |   |   |        |   |    |   |   |   |   |   |   |   | 348 |   |   |   |   |   |   |   |   |   |   |   | 348 |   |   |   |   |   |   |   | 348 |   |
| Realized gain on pension termination (net of tax of $749)                                                                                                                                                                                                                                                                                                                                                                                                           |   |                       |   |   |        |   |    |   |   |   |   |   |   |   | (1,153 | ) |   |   |   |   |   |   |   |   |   |   | (1,153 | ) |   |   |   |   |   |   | (1,153 | ) |
| Net unrealized loss on cash flow hedging instruments (net of tax benefit of $101)                                                                                                                                                                                                                                                                                                                                                                              |   |                       |   |   |        |   |    |   |   |   |   |   |   |   | (162 | )  |   |   |   |   |   |   |   |   |   |   | (162 | )  |   |   |   |   |   |   | (162 | )  |
| Comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (6,351 | ) |
| Comprehensive loss attributable to the noncontrolling interests                                                                                                                                                                                                                                                                                                                                                                                                     |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (367 | ) |
| Comprehensive loss attributable to Blyth, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | (5,984 | ) |
| Stock-based compensation                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                       |   |   |        |   | 1,120   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,120 |   |   |   |   |   |   |   |   |   |
| Dividends declared ($.10 per share)                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                       |   |   |        |   |    |   |   |   | (892 | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (892 | ) |   |   |   |   |   |   |   |   |
| Accretion of redeemable noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                       |   |   |        |   |    |   |   |   | (1,284 | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (1,284 | ) |   |   | 1,284 |   |   |   |   |   |
| Treasury stock purchases 1                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   | (125 | ) |   |   |   |   |   |   | (125 | ) |   |   |   |   |   |   |   |   |
| Balance, April 30, 2009                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                          | 255    |   |        | $      | 142,427 |   |   | $ | 487,163 |   |   | $ | 10,591 |   |   | $ | (399,103 | ) |   | $ | (36 | ) |   | $ | 241,297 |   |   | $ | 1,779 |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| For the three months ended April 30, 2010:                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, February 1, 2010                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $                          | 255    |   |        | $      | 144,233 |   |   | $ | 494,524 |   |   | $ | 20,591 |   |   | $ | (403,329 | ) |   | $ | 3 |   |   |   | 256,277 |   |   | $ | (1,470 | ) |   |   |   |   |
| Net earnings (loss) for the period                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                       |   |   |        |   |    |   |   |   | 4,507 |   |   |   |   |   |   |   |   |   |   |   | 56 |   |   |   | 4,563 |   |   |   | (461 | ) |   | $ | 4,102 |   |
| Distribution to noncontrolling interest                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (36 | ) |   |   | (36 | ) |   |   |   |   |   |   |   |   |
| Foreign currency translation adjustments (net of tax liability of $4,133)                                                                                                                                                                                                                                                                                                                                                                                      |   |                       |   |   |        |   |    |   |   |   |   | (7,421 | ) |   |   |   |   |   |   |   |   |   |   | (7,421 | ) |   |   |   |   |   |   | (7,421 | ) |
| Net unrealized gain on certain investments  (net of tax liability of  $206)                                                                                                                                                                                                                                                                                                                                                                     |   |                       |   |   |        |   |    |   |   |   |   |   |   |   | 410 |   |   |   |   |   |   |   |   |   |   |   | 410 |   |   |   |   |   |   |   | 410 |   |
| Net unrealized gain on cash flow hedging instruments (net of tax liability of $36                                                                                                                                                                                                                                                                                                                                                                              |   |                       |   |   |        |   |    |   |   |   |   |   |   |   | 67 |   |   |   |   |   |   |   |   |   |   |   | 67 |   |   |   |   |   |   |   | 67 |   |
| Comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (2,842 | ) |
| Comprehensive loss attributable to the noncontrolling interests                                                                                                                                                                                                                                                                                                                                                                                                     |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 405 |   |
| Comprehensive loss attributable to Blyth, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | (2,437 | ) |
| Common stock issued in connection with long-term incentive plan                                                                                                                                                                                                                                                                                                                                                                                                     |   |                       | 1      |   |        |   | (1      | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | - |   |   |   |   |   |   |   |   |   |
| Stock-based compensation                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                       |   |   |        |   | 985     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 985 |   |   |   |   |   |   |   |   |   |
| Dividends declared ($0.10 per share)                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                       |   |   |        |   |    |   |   |   | (885 | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (885 | ) |   |   |   |   |   |   |   |   |
| Treasury stock purchases 1                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                       |   |   |        |   |    |   |   |   |   |   |   |   |   |   |   |   | (220 | ) |   |   |   |   |   |   | (220 | ) |   |   |   |   |   |   |   |   |
| Balance, April 30, 2010                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                          | 256    |   |        | $      | 145,217 |   |   | $ | 498,146 |   |   | $ | 13,647 |   |   | $ | (403,549 | ) |   | $ | 23 |   |   | $ | 253,740 |   |   | $ | (1,931 | ) |   |   |   |   |
|  1.) This includes shares withheld in order to satisfy employee withholding taxes upon the distribution of vested restricted stock units.                                                                                                                                                                                                                                                                                                                      |   |
| The accompanying notes are an integral part of these financial statements.                                                                                                                                                                                                                                                                                                                                                                                          |   |

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| BLYTH, INC. AND SUBSIDIARIES                                                                                                                                          |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                                                 |   |
| (Unaudited)                                                                                                                                                           |   |
| Three months ended April 30 (In thousands)                                                                                                                            |   | 2010 |   |   | 2009 |   |
| Cash flows from operating activities:                                                                                                                                 |   |   |   |   |   |   |
| Net earnings                                                                                                                                                          |   | $ | 4,102 |   |   | $ | 2,424 |   |
|      Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:                                           |   |   |   |   |   |   |   |   |
|              Depreciation and amortization                                                           |   |   | 3,615 |   |   |   | 4,214 |   |
|              Gain on sale of assets                                                                  |   |   | (342 | ) |   |   | - |   |
|              Stock-based compensation expense                                                        |   |   | 985 |   |   |   | 1,144 |   |
|              Deferred income taxes                                                                   |   |   | 5,267 |   |   |   | 477 |   |
|              Gain on pension plan termination                                                        |   |   | - |   |   |   | (1,902 | ) |
|              Other                                                                                   |   |   | - |   |   |   | 46 |   |
|      Changes in operating assets and liabilities, net of effect of business acquisitions and divestitures:                                   |   |   |   |   |   |   |   |   |
|              Accounts receivable                                                                     |   |   | (4,997 | ) |   |   | 1,538 |   |
|              Inventories                                                                             |   |   | (5,666 | ) |   |   | 13,004 |   |
|              Prepaid and other                                                                       |   |   | (5,742 | ) |   |   | (7,051 | ) |
|              Other long-term assets                                                                  |   |   | (189 | ) |   |   | 1,364 |   |
|              Accounts payable                                                                        |   |   | (13,612 | ) |   |   | (6,176 | ) |
|              Accrued expenses                                                                        |   |   | 5,437 |   |   |   | 5,321 |   |
|              Other liabilities and other                                                             |   |   | (5,138 | ) |   |   | 203 |   |
|              Income taxes payable                                                                    |   |   | (1,901 | ) |   |   | (2,547 | ) |
|                    Net cash (used in) provided by operating activities |   |   | (18,181 | ) |   |   | 12,059 |   |
| Cash flows from investing activities:                                                                                                                                 |   |   |   |   |   |   |   |   |
|     Purchases of property, plant and equipment, net of disposals                                                                                  |   |   | (1,722 | ) |   |   | (1,721 | ) |
|     Purchases of short-term investments                                                                                                           |   |   | (5,000 | ) |   |   | - |   |
|     Purchases of long-term investments                                                                                                            |   |   | - |   |   |   | (42 | ) |
|     Proceeds from sale of long-term investments                                                                                                   |   |   | 1,972 |   |   |   | 1,491 |   |
|     Cash settlement of net investment hedges                                                                                                      |   |   | - |   |   |   | 6,563 |   |
|                    Net cash (used in) provided by investing activities |   |   | (4,750 | ) |   |   | 6,291 |   |
| Cash flows from financing activities:                                                                                                                                 |   |   |   |   |   |   |   |   |
|     Borrowings on long-term debt                                                                                                                  |   |   | 600 |   |   |   | - |   |
|     Repayments on long-term debt                                                                                                                  |   |   | (121 | ) |   |   | (12,717 | ) |
|     Payments on capital lease obligations                                                                                                         |   |   | (20 | ) |   |   | (135 | ) |
|     Dividends paid                                                                                                                                |   |   | (8,826 | ) |   |   | - |   |
|     Distributions to noncontrolling interest                                                                                                      |   |   | (36 | ) |   |   | (67 | ) |
|                    Net cash used in financing activities               |   |   | (8,403 | ) |   |   | (12,919 | ) |
| Effect of exchange rate changes on cash                                                                                                                               |   |   | (2,696 | ) |   |   | (8,187 | ) |
|                    Net decrease in cash and cash equivalents           |   |   | (34,030 | ) |   |   | (2,756 | ) |
| Cash and cash equivalents at beginning of period                                                                                                                      |   |   | 207,394 |   |   |   | 146,424 |   |
| Cash and cash equivalents at end of period                                                                                                                            |   | $ | 173,364 |   |   | $ | 143,668 |   |
| The accompanying notes are an integral part of these financial statements.                                                                                            |   |

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| (In thousands)               |   | Lease Obligation |   |
|------------------------------|--------|------------------|--------|
| Balance at January 31, 2010  |   | $                | 1,327  |   |
| Payments made in fiscal 2011 |   |             | (207   | ) |
| Balance at April 30, 2010    |   | $                | 1,120  |   |

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|                                                                                                                                                                                                                                                                                                                                                                                               |   | April 30, 2010 |    |   | January 31, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------|--------|------------------|--------|
| (In thousands)                                                                                                                                                                                                                                                                                                                                                                                     |   | Cost Basis 1   |    |   | Fair Value       |   |   | Net unrealized gain (loss) in AOCI |   |   | Cost Basis 1 |   |   | Fair Value |   |   | Net unrealized gain (loss) in AOCI |   |
| Cash                                                                                                                                                                                                                                                                                                                                                                                               |   | $              | 63,364  |   |             | $      | 63,364 |   |   | $ | - |   |   | $ | 102,394 |   |   | $ | 102,394 |   |   | $ | - |   |
| Certificates of deposit                                                                                                                                                                                                                                                                                                                                                                            |   |           | 5,000   |   |             |   | 5,000 |   |   |   | - |   |   |   | 10,000 |   |   |   | 10,000 |   |   |   | - |   |
| Commercial paper                                                                                                                                                                                                                                                                                                                                                                                   |   |           | -       |   |             |   | - |   |   |   | - |   |   |   | 10,000 |   |   |   | 10,000 |   |   |   | - |   |
| Money market funds                                                                                                                                                                                                                                                                                                                                                                                 |   |           | 105,000 |   |             |   | 105,000 |   |   |   | - |   |   |   | 85,000 |   |   |   | 85,000 |   |   |   | - |   |
|    Total cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                  |   |           | 173,364 |   |             |   | 173,364 |   |   |   | - |   |   |   | 207,394 |   |   |   | 207,394 |   |   |   | - |   |
| Equity securities                                                                                                                                                                                                                                                                                                                                                                                  |   |           | 14,897  |   |             |   | 14,992 |   |   |   | 95 |   |   |   | 16,103 |   |   |   | 15,680 |   |   |   | (423 | ) |
| Certificates of deposit                                                                                                                                                                                                                                                                                                                                                                            |   |           | 12,032  |   |             |   | 12,032 |   |   |   | - |   |   |   | 7,413 |   |   |   | 7,413 |   |   |   | - |   |
|    Total available for sale investments                                                                                                                                                                                                                                                                                                                                             |   | $              | 26,929  |   |             | $      | 27,024 |   |   | $ | 95 |   |   | $ | 23,516 |   |   | $ | 23,093 |   |   | $ | (423 | ) |
| Equity method investment in LLC 2                                                                                                                                                                                                                                                                                                                                                                  |   |           |    |   |             |   | 979 |   |   |   |   |   |   |   |   |   |   |   | 979 |   |   |   |   |   |
|    Total cash and cash equivalents and investments                                                                                                                                                                                                                                                                                                                                  |   |           |    |   |             | $      | 201,367 |   |   |   |   |   |   |   |   |   |   | $ | 231,466 |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                               |   |           |    |   |             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 1.) The cost basis represents the actual amount paid or the basis assumed following a permanent impairment of that asset. The equity securities consist of $10.0 million for ARS and $5.0 million for preferred stock as of April 30, 2010. The basis for the preferred stock is their fair value as of February 1, 2009, the date that they were reclassified from trading to available for sale. |   |
| 2.) The equity method investment is reported at cost, adjusted by the Company's proportionate share of investee's earnings or loss. This may not be equal to the investment's fair market value.                                                                                                                                                                                                   |   |

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| (In thousands)          |   | Three months ended April 30, |   |
|-------------------------|--------|------------------------------|--------|
|                    |   | 2010                         |   |   | 2009 |   |
| Net proceeds            |   | $                            | 1,591  |   |   | $ | 614 |   |
| Realized gains (losses) |   | $                            | 385    |   |   | $ | (2 | ) |

| (In thousands)  |   | April 30, 2010 |    |   | January 31, 2010 |   |
|-----------------|--------|----------------|---------|--------|------------------|--------|
| Raw materials   |   | $              | 8,344   |   |             | $      | 8,482 |   |
| Work in process |   |           | 293     |   |             |   | - |   |
| Finished goods  |   |           | 98,125  |   |             |   | 93,721 |   |
| Total           |   | $              | 106,762 |   |             | $      | 102,203 |   |

|   | As of April 30, 2010 and January 31, 2010, the inventory valuation adjustments totaled $14.3 million and $14.4 million, respectively. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------|

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|                                  |   | Direct Selling Segment                      |   |   | Catalog & Internet Segment |   |   | Total                                       |   |
|---------------------------------------|--------|---------------------------------------------|--------|--------|--------------------------------|--------|--------|---------------------------------------------|--------|
| (In thousands)                        |   | Indefinite-lived trade names and trademarks |   |   | Customer relationships         |   |   | Indefinite-lived trade names and trademarks |   |   | Customer relationships |   |   | Indefinite-lived trade names and trademarks |   |   | Customer relationships |   |
| Other intangibles at January 31, 2010 |   | $                                           | 1,100  |   |                           | $      | -      |                                        |   | $ | 7,850 |   |   | $ | 3,226 |   |   | $ | 8,950 |   |   | $ | 3,226 |   |
| Amortization                          |   |                                        | -      |   |                           |   | -      |                                        |   |   | - |   |   |   | (284 | ) |   |   | - |   |   |   | (284 | ) |
| Other intangibles at April 30, 2010   |   | $                                           | 1,100  |   |                           | $      | -      |                                        |   | $ | 7,850 |   |   | $ | 2,942 |   |   | $ | 8,950 |   |   | $ | 2,942 |   |

|         | • |   | Level 1 – Observable inputs – quoted prices in active markets for identical assets and liabilities;                                                                                                                                                                                                                            |
|--------------|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    | • |   | Level 2 – Observable inputs other than the quoted prices in active markets for identical assets and liabilities – such as quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets, or other inputs that are observable or can be corroborated by observable market data; |
|    | • |   | Level 3 – Unobservable inputs – includes amounts derived from valuation models where one or more significant inputs are unobservable and require us to develop relevant assumptions.                                                                                                                                           |

| (In thousands)                                                                                |   | Balance as of April 30, 2010 |   |   | Quoted prices in active markets for identical assets (Level 1) |   |   | Significant other observable inputs (Level 2) |   |   | Significant unobservable inputs (Level 3) |   |
|-----------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|--------|----------------------------------------------------------------|--------|--------|-----------------------------------------------|--------|--------|-------------------------------------------|--------|
| Financial assets                                                                              |   |                              |   |   |                                                           |   |   |                                          |   |   |                                      |   |
|   Certificates of deposit                                                           |   | $                                 | 12,032 |   |                                                           | $      | -      |                                          |   | $      | 12,032                                    |   |   | $ | - |   |
|   Equity securities - auction rate securities                                       |   |                              | 9,424  |   |                                                           |   | -      |                                          |   |   | -                                         |   |   |   | 9,424 |   |
|   Equity securities - preferred stock                                               |   |                              | 5,567  |   |                                                           |   | -      |                                          |   |   | 5,567                                     |   |   |   | - |   |
|   Foreign exchange forward contracts                                                |   |                              | 334    |   |                                                           |   | -      |                                          |   |   | 334                                       |   |   |   | - |   |
|   Deferred compensation plan assets 1                                               |   |                              | 1,144  |   |                                                           |   | 1,144  |                                          |   |   | -                                         |   |   |   | - |   |
|     Total                                                                 |   | $                                 | 28,501 |   |                                                           | $      | 1,144  |                                          |   | $      | 17,933                                    |   |   | $ | 9,424 |   |
| Financial liabilities                                                                         |   |                              |   |   |                                                           |   |   |                                          |   |   |                                      |   |   |   |   |   |
|   Foreign exchange forward contracts                                                |   | $                                 | (91    | )      |                                                           | $      | -      |                                          |   | $      | (91                                       | )      |   | $ | - |   |
| 1.) There is an offsetting liability for the obligation to its employees in Other liabilities |   |

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| (In thousands)                                            |   |
|-----------------------------------------------------------|--------|
|                                                      |   | April 30, 2010 |   |   | January 31, 2010 |   |
| Derivatives designated as hedging instruments             |   | Prepaid and Other |   |   | Accrued Expenses |   |   | Prepaid and Other |   |   | Accrued Expenses |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Foreign exchange forward contract in an asset position    |   | $ | 334 |   |   | $ | - |   |   | $ | 144 |   |   | $ | 56 |   |
| Foreign exchange forward contract in a liability position |   |   | - |   |   |   | (91 | ) |   |   | (56 | ) |   |   | (125 | ) |
|    Net derivatives at fair value           |   | $ | 334 |   |   | $ | (91 | ) |   | $ | 88 |   |   | $ | (69 | ) |

| Cash Flow Hedging Relationships   |   | Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion) |   | Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) |   | Amount of Gain Reclassified from AOCI into Income (Effective Portion) |   |
|-----------------------------------|--------|----------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------|--------|
| (In thousands)                    |   | 2010                                                                       |   |                                                                           | 2009   |                                                                  |   |   | 2010 |   |   | 2009 |   |
| Foreign exchange forward contract |   | $                                                                          | 104    |                                                                           |   | $                                                                     | (263   | ) | Cost of goods sold |   | $ | 185 |   |   | $ | 353 |   |

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|                                                                                                                          |   | Three months ended April 30, |   |
|-------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|--------|
|  (In thousands)                                                                                                          |   | 2010                         |   |   | 2009 |   |
| Net earnings attributable to Blyth, Inc.                                                                                      |   | $                            | 4,507  |   |   | $ | 2,791 |   |
| Accretion of redeemable noncontrolling interest in excess of fair value                                                       |   |                         | -      |   |   |   | 356 |   |
| Earnings available for common shareholders                                                                                    |   | $                            | 4,507  |   |   | $ | 2,435 |   |
| Weighted average number outstanding:                                                                                          |   |                         |   |   |   |   |   |   |
| Common shares                                                                                                                 |   |                         | 8,798  |   |   |   | 8,895 |   |
| Vested restricted stock units                                                                                                 |   |                         | 34     |   |   |   | 17 |   |
| Weighted average number of common shares outstanding:                                                                         |   |                         |   |   |   |   |   |   |
|          Basic                                                                   |   |                         | 8,832  |   |   |   | 8,912 |   |
|          Dilutive effect of stock options and non-vested restricted shares units |   |                         | 40     |   |   |   | 13 |   |
|          Diluted                                                                 |   |                         | 8,872  |   |   |   | 8,925 |   |

| Treasury Stock                                                      |   |   |      |   |   |   |
|---------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|
| Changes in Treasury Stock were (In thousands, except shares):       |   | Shares |      |   | Amount |   |
| Balance at February 1, 2009                                         |   |   | 3,842,224 |   |   | $      | (398,978 | ) |
| Treasury stock withheld in connection with long-term incentive plan |   |   | 3,792     |   |   |   | (125 | ) |
| Balance at April 30, 2009                                           |   |   | 3,846,016 |   |   | $      | (399,103 | ) |
|                                                                |   |   |      |   |   |   |   |   |
| Balance at February 1, 2010                                         |   |   | 3,972,112 |   |   | $      | (403,329 | ) |
| Treasury stock withheld in connection with long-term incentive plan |   |   | 4,523     |   |   |   | (220 | ) |
| Balance at April 30, 2010                                           |   |   | 3,976,635 |   |   | $      | (403,549 | ) |

| Common Stock                                                    |   |   |       |   |   |   |
|-----------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
| Changes in Common Stock were (In thousands, except shares):     |   | Shares |       |   | Amount |   |
| Balance at February 1, 2009                                     |   |   | 12,733,209 |   |   | $      | 255 |   |
| Common stock issued in connection with long-term incentive plan |   |   | 13,616     |   |   |   | - |   |
| Balance at April 30, 2009                                       |   |   | 12,746,825 |   |   | $      | 255 |   |
|                                                            |   |   |       |   |   |   |   |   |
| Balance at February 1, 2010                                     |   |   | 12,765,919 |   |   | $      | 255 |   |
| Common stock issued in connection with long-term incentive plan |   |   | 16,646     |   |   |   | 1 |   |
| Balance at April 30, 2010                                       |   |   | 12,782,565 |   |   | $      | 256 |   |

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|                                                    |   |   |    |   |                                  |   |   |                                   |   |
|---------------------------------------------------------|--------|--------|---------|--------|---------------------------------------|--------|--------|----------------------------------------|--------|
|                                                    |   | Shares |    |   | Weighted AverageGrant Date Fair Value |   |   | AggregateIntrinsic Value(In thousands) |   |
| Nonvested restricted stock and RSUs at January 31, 2010 |   |   | 101,238 |   |                                  | $      | 45.31  |                                   |   |   |   |
|     Granted                         |   |   | 35,810  |   |                                  |   | 48.69  |                                   |   |   |   |
|     Vested                          |   |   | (24,576 | )      |                                  |   | 70.30  |                                   |   |   |   |
|     Forfeited                       |   |   | -       |   |                                  |   | -      |                                   |   |   |   |
| Nonvested restricted stock and RSUs at April 30, 2010   |   |   | 112,472 |   |                                  |   | 40.92  |                                   |   | $ | 6,483 |   |
| Total restricted stock and RSUs at April 30, 2010       |   |   | 152,151 |   |                                  | $      | 53.50  |                                   |   | $ | 8,770 |   |

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|                                          |   | Option Shares |   |   | Weighted AverageExercise Price |   |   | Weighted AverageRemainingContractual Life |   |   | AggregateIntrinsic Value |   |
|-----------------------------------------------|--------|---------------|--------|--------|--------------------------------|--------|--------|-------------------------------------------|--------|--------|--------------------------|--------|
| Outstanding at January 31, 2010               |   |          | 62,125 |   |                           | $      | 107.68 |                                      |   |   | 2.42                     |   |   | $ | - |   |
|     Options expired       |   |          | (6,400 | )      |                           |   | 98.98  |                                      |   |   | -                        |   |   |   | - |   |
| Outstanding and exercisable at April 30, 2010 |   |          | 55,725 |   |                           | $      | 108.68 |                                      |   |   | 2.36                     |   |   | $ | - |   |

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|                                                    |   |   | Three months ended April 30, |   |
|---------------------------------------------------------|--------|--------|------------------------------|--------|
| (In thousands)                                          |   | 2010   |                         |   | 2009 |   |
| Net sales                                               |   |   |                         |   |   |   |
| Direct Selling                                          |   | $      | 139,909                      |   |   | $ | 148,534 |   |
| Multi-channel Group:                                    |   |   |                         |   |   |   |   |   |
|    Catalog & Internet                |   |   | 33,731                       |   |   |   | 32,436 |   |
|    Wholesale                             |   |   | 27,905                       |   |   |   | 33,754 |   |
|  Subtotal Multi-channel Group                      |   | 61,636 |                         |   |   | 66,190 |   |
|         Total   |   | $      | 201,545                      |   |   | $ | 214,724 |   |
| Operating profit (loss)                                 |   |   |                         |   |   |   |   |   |
| Direct Selling                                          |   | $      | 13,075                       |   |   | $ | 13,764 |   |
| Multi-channel Group:                                    |   |   |                         |   |   |   |   |   |
|    Catalog & Internet                |   |   | (2,296                       | )      |   |   | (1,827 | ) |
|    Wholesale                             |   |   | (3,716                       | )      |   |   | (6,151 | ) |
| Subtotal Multi-channel Group                            |   |   | (6,012                       | )      |   |   | (7,978 | ) |
|                                                    |   |   |                         | 7,063  |   |   |   | 5,786 |   |
|        Other expense |   |   | (1,313                       | )      |   |   | (1,161 | ) |
| Earnings before income taxes                            |   | $      | 5,750                        |   |   | $ | 4,625 |   |
|                                                    |   |   |                         |   |   |   |   |   |   |
|                                                    |   |   | April 30, 2010               |   |   | January 31, 2010 |   |
| Identifiable assets                                     |   |   |                         |   |   |   |   |   |
| Direct Selling                                          |   | $      | 207,382                      |   |   | $ | 205,615 |   |
| Multi-channel Group:                                    |   |   |                         |   |   |   |   |   |
|    Catalog & Internet                |   |   | 58,904                       |   |   |   | 58,040 |   |
|    Wholesale                                  |   |   | 74,229                       |   |   |   | 81,928 |   |
| Subtotal Multi-channel Group                            |   |   | 133,133                      |   |   |   | 139,968 |   |
|    Unallocated Corporate                 |   |   | 160,193                      |   |   |   | 177,410 |   |
| Total                                                   |   | $      | 500,708                      |   |   | $ | 522,993 |   |

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.    QUANTITATIVE 

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|                                         |   | U.S. Dollar     |   |   | Average       |   |   | Unrealized |   |
|----------------------------------------------|--------|-----------------|--------|--------|---------------|--------|--------|------------|--------|
| (In thousands, except average contract rate) |   | Notional Amount |   |   | Contract Rate |   |   | Gain       |   |
| Euro                                         |   | $               | 2,800  |   |          |   | 1.48   |       |   | $ | 248 |   |

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Item 1

Item 1A.

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Item 2.  

| Period                                     |   | (a) Total Number of Shares Purchased2 |   |   | (b) Average Price Paid per Share |   |   | (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |   |   | (d) Maximum of Shares that May Yet Be Purchased Under the Plans or Programs |   |
|--------------------------------------------|--------|---------------------------------------|--------|--------|----------------------------------|--------|--------|--------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|
| February 1, 2010 – February 28, 2010 |   |                                  | -      |   |                             | $      | -      |                                                                                 |   |   | -                                                                           |   |   |   | 1,764,430 |   |
| March 1, 2010 – March 31, 2010       |   |                                  | -      |   |                             |   | -      |                                                                                 |   |   | -                                                                           |   |   |   | 1,764,430 |   |
| April 1, 2010 – April 30, 2010       |   |                                  | -      |   |                             |   | -      |                                                                                 |   |   | -                                                                           |   |   |   | 1,764,430 |   |
| Total                                      |   |                                  | -      |   |                             |   | -      |                                                                                 |   |   | -                                                                           |   |   |   | 1,764,430 |   |

Item 3.   

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Item 4

|   | 31.1 | Certification of Chairman and Chief Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification of Vice President and Chief Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification of Chairman and Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|--------|------|------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | Certification of Vice President and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|--------|------|------------------------------------------------------------------------------------------------------------------------|

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ATU

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