Women's Wear Daily (WWD), an industry leading beauty and fashion newspaper, highlighted Nu Skin for its impressive first-quarter results. Sighting the strong launch of ageLOC products as a key factor for the success, Nu Skin nearly tripled its first quarter profits and enjoyed a 22.9 percent improvement in sales.
In the article, Truman Hunt said, "To date, the ageLOC product launch has been the most successful in our history, generating more than $80 million in just the first two quarters of product sales."
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Nu Skin Nearly Triples 1st-Qtr. Net
by Arnold J. Karr
Posted Thursday April 29, 2010
Aided by favorable currency exchange and strong launches of its AgeLOC antiaging skin system in the U.S., Europe and South Korea, Nu Skin Enterprises Inc. nearly tripled its first-quarter profits as sales advanced 22.9 percent.
In the three months ended March 31, net income tallied $31 million, or 48 cents a diluted share, 6 cents above consensus estimates tabulated by Yahoo Finance. In the year-ago period, earnings were $11.8 million, or 19 cents.
Sales rose to $364.1 million, from $296.2 million, including an 8 percent benefit from foreign currency fluctuation. North Asia remained the biggest market by far for the Provo, Utah-based antiaging products specialist as sales in the market grew 22.2 percent to $170.9 million. Sales in the Americas rose 6.9 percent to $62.5 million and were up 21.5 percent in China to $57.7 million; 41.6 percent in Europe to $37.8 million, and 48.4 percent in South Asia and the Pacific to $35.3 million.
“To date, the AgeLOC product launch has been the most successful in our history, generating more than $80 million in just the first two quarters of product sales,” said Truman Hunt, president and chief executive officer.
He also noted the pickup in the firm’s operating margin, to 12.7 percent of sales in the first quarter from 6.8 percent in its 2009 counterpart. “Our consistent efforts to operate more efficiently and innovate in our business processes provide a stable foundation for increasing profitability,” he said.
The company lifted its full-year guidance to earnings per share of $1.80 to $1.88 on sales of $1.44 billion to $1.46 billion, above the previous ranges of $1.65 to $1.70 on sales of $1.38 billion to $1.41 billion.