We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nu Skin Enterprises Inc | NYSE:NUS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.48 | 0 | 01:00:00 |
PROVO, Utah, Nov. 1, 2017 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced third-quarter 2017 financial results.
Executive Summary | |
Revenue: |
$563.7 million, compared to $604.2 million in Q3 2016, which included $56 million in limited-time-offer (LTO) sales. Q3 2017 was negatively impacted approximately 1% by foreign currency fluctuations. |
Earnings Per Share (EPS): |
$0.76, compared to $0.98 in Q3 2016. |
Sales Leaders: |
64,200 – 5% year-over-year decrease, impacted by prior-year LTOs. |
Customers: |
1,069,000 – 7% year-over-year improvement. |
"During the third quarter, we continued to execute our growth strategy and delivered results at the top-end of our previous guidance range," said Ritch Wood, chief executive officer. "We generated sequential improvements in the business, and are confident that our focus on social selling served as an important catalyst for steady customer and business growth in many of our markets. We also saw healthy energy within our sales force leading up to our October Nu Skin LIVE! event."
Q3 2017 Year-Over-Year Operating Results | |
Revenue: |
$563.7 million compared to $604.2 million. |
Gross Margin: |
78.6% compared to 79.2%. |
Selling Expenses: |
41.7% of revenue compared to 42.3%. |
G&A Expenses: |
25.4% of revenue compared to 23.3%. |
Operating Margin: |
11.4% compared to 13.6%. |
Other Income / (Expense): |
($1.2) million compared to ($5.7) million. |
Income Tax Rate: |
34.1% compared to 25.8% due to closing of Venezuela operations. |
EPS: |
$0.76 compared to $0.98. |
Stockholder Value | |
Dividend Payments: |
$19.0 million. |
Stock Repurchases: |
$25.7 million; $152 million remaining in authorization. |
2017 Outlook | |
Q4 Revenue: |
$650 to $670 million; approximately 1% negative foreign currency impact. |
Q4 EPS: |
$1.16 to $1.21. |
2017 Revenue: |
$2.263 to $2.283 billion; approximately 3% growth. |
2017 EPS |
$3.20 to $3.25. |
"As we look ahead to the fourth quarter, we remain focused on expanding our customer base as we begin rolling out our platform, product and program initiatives," said Wood. "During our LIVE! event, we introduced several new products aimed at increasing the pace of our social selling efforts, including the ageLOC LumiSpa treatment and cleansing device which we plan to launch in every market during the first half of 2018. Over the next several quarters, we will begin implementing enhanced programs to more effectively reward our sales leaders and build long-term customer loyalty. We are confident that our strategic focus on these initiatives will help us build a solid base for future growth and enhanced value for our shareholders."
"Looking forward, we expect fourth-quarter revenue in the $650 to $670 million range which includes a one percent negative foreign currency impact," said Mark Lawrence, chief financial officer. "In the quarter, we continue to anticipate approximately $100 million from the introduction of ageLOC LumiSpa, and project fourth-quarter earnings per share of $1.16 to $1.21."
Conference Call
The Nu Skin management team will host a conference call with the investment community on Nov. 1, at 5 p.m. (ET). Those wishing to access the webcast, as well as the financial information presented during the call, can visit the Investor Relations page on the company's website at ir.nuskin.com. A replay of the webcast will be available at the same URL through Nov. 15, 2017.
About Nu Skin Enterprises, Inc.
Founded more than 30 years ago, Nu Skin Enterprises, Inc. develops and distributes innovative consumer products, offering a comprehensive line of premium-quality beauty and wellness solutions. The company builds upon its scientific expertise in both skin care and nutrition to continually develop innovative product brands that include the Nu Skin® personal care brand, the Pharmanex® nutrition brand, and most recently, the ageLOC® anti-aging brand. The ageLOC brand has generated a loyal following for such products as the ageLOC Youth nutritional supplement, the ageLOC Me® customized skin care system, as well as the ageLOC TR90® weight management and body shaping system. Nu Skin sells its products through a global network of sales leaders in Asia, the Americas, Europe, Africa and the Pacific. As a long-standing member of direct selling associations globally, Nu Skin is committed to the industry's consumer guidelines that protect and support those who sell and purchase its products through the direct selling channel. Nu Skin is also traded on the New York Stock Exchange under the symbol "NUS." More information is available at nuskin.com.
Important Information Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that represent the company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not limited to, statements of management's expectations regarding the company's performance, sales force and customer base, growth, initiatives and areas of focus, and new product introductions; projections regarding revenue, earnings per share, foreign currency fluctuations, and other financial items; statements of belief; and statements of assumptions underlying any of the foregoing. In some cases, you can identify these statements by forward-looking words such as "believe," "expect," "project," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," "may," "might," the negative of these words and other similar words.
The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, the following:
The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission. The forward-looking statements set forth the company's beliefs as of the date that such information was first provided and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change except as required by law.
Non-GAAP Financial Measures: Constant-currency revenue growth is a non-GAAP financial measure that removes the impact of fluctuations in foreign-currency exchange rates, thereby facilitating period-to-period comparisons of the company's performance. It is calculated by translating the current period's revenue at the same average exchange rates in effect during the applicable prior-year period and then comparing this amount to the prior-year period's revenue.
The Company's revenue results by segment for the three-month periods ended September 30 are presented in the following table (in thousands).
2017 |
2016 |
% Change |
Constant % Change | |||||
Mainland China |
$ 172,556 |
$ 168,320 |
2.5% |
2.5% | ||||
South Korea |
89,238 |
136,188 |
(34.5%) |
(33.7%) | ||||
Americas |
79,214 |
71,250 |
11.2% |
12.1% | ||||
South Asia/Pacific |
78,994 |
70,867 |
11.5% |
12.9% | ||||
Japan |
62,513 |
72,489 |
(13.8%) |
(6.5%) | ||||
Hong Kong/Taiwan |
41,050 |
48,140 |
(14.7%) |
(16.4%) | ||||
EMEA |
40,133 |
36,908 |
8.7% |
3.2% | ||||
Total |
$ 563,698 |
$ 604,162 |
(6.7%) |
(5.8%) |
The Company's revenue results by segment for the nine-month periods ended September 30 are presented in the following table (in thousands).
2017 |
2016 |
% Change |
Constant % Change | |||||
Mainland China |
$ 494,658 |
$ 471,319 |
5.0% |
8.5% | ||||
South Korea |
258,626 |
315,342 |
(18.0%) |
(19.5%) | ||||
Americas |
221,968 |
204,882 |
8.3% |
9.1% | ||||
South Asia/Pacific |
216,727 |
226,742 |
(4.4%) |
(2.9%) | ||||
Japan |
188,465 |
210,429 |
(10.4%) |
(7.4%) | ||||
Hong Kong/Taiwan |
120,069 |
140,568 |
(14.6%) |
(17.2%) | ||||
EMEA |
112,385 |
107,186 |
4.9% |
4.0% | ||||
Total |
$ 1,612,898 |
$ 1,676,468 |
(3.8%) |
(2.7%) |
The Company's Customers and Sales Leaders statistics by segment for the three-month periods ended September 30 are presented in the following table.
2017 |
2016 |
% Increase (Decrease) | ||||||||||
Customers |
Sales |
Customers |
Sales |
Customers |
Sales | |||||||
Mainland China |
190,000 |
25,600 |
182,000 |
25,300 |
4.4% |
1.2% | ||||||
South Korea |
185,000 |
8,400 |
198,000 |
11,700 |
(6.6%) |
(28.2%) | ||||||
Americas |
215,000 |
7,200 |
171,000 |
6,700 |
25.7% |
7.5% | ||||||
South Asia/Pacific |
149,000 |
7,900 |
116,000 |
7,200 |
28.4% |
9.7% | ||||||
Japan |
131,000 |
6,500 |
136,000 |
7,000 |
(3.7%) |
(7.1%) | ||||||
Hong Kong/Taiwan |
71,000 |
4,300 |
75,000 |
5,300 |
(5.3%) |
(18.9%) | ||||||
EMEA |
128,000 |
4,300 |
121,000 |
4,100 |
5.8% |
4.9% | ||||||
Total |
1,069,000 |
64,200 |
999,000 |
67,300 |
7.0% |
(4.6%) |
"Customers" are persons who purchased products directly from the company during the previous three months.
"Sales Leaders" are independent distributors, and sales employees and independent marketers in China, who achieve certain qualification requirements.
NU SKIN ENTERPRISES, INC. | |||
Consolidated Statements of Income (Unaudited) | |||
For the Third Quarters Ended September 30, 2017 and 2016 | |||
(in thousands, except per share amounts) | |||
2017 |
2016 | ||
Revenue |
$ 563,698 |
$ 604,162 | |
Cost of sales |
120,832 |
125,863 | |
Gross profit |
442,866 |
478,299 | |
Operating expenses: |
|||
Selling expenses |
235,285 |
255,274 | |
General and administrative expenses |
143,219 |
140,651 | |
Total operating expenses |
378,504 |
395,925 | |
Operating income |
64,362 |
82,374 | |
Other income (expense), net |
(1,172) |
(5,695) | |
Income before provision for income taxes |
63,190 |
76,679 | |
Provision for income taxes |
21,518 |
19,807 | |
Net income |
$ 41,672 |
$ 56,872 | |
Net income per share: |
|||
Basic |
$ 0.79 |
$ 1.02 | |
Diluted |
$ 0.76 |
$ 0.98 | |
Weighted average common shares outstanding: |
|||
Basic |
52,873 |
55,983 | |
Diluted |
54,834 |
57,852 |
NU SKIN ENTERPRISES, INC. | |||
Consolidated Statements of Income (Unaudited) | |||
For the Nine-Month Periods Ended September 30, 2017 and 2016 | |||
(in thousands, except per share amounts) | |||
2017 |
2016 | ||
Revenue |
$ 1,612,898 |
$ 1,676,468 | |
Cost of sales |
353,619 |
391,937 | |
Gross profit |
1,259,279 |
1,284,531 | |
Operating expenses: |
|||
Selling expenses |
672,646 |
699,196 | |
General and administrative expenses |
411,270 |
415,014 | |
Total operating expenses |
1,083,916 |
1,114,210 | |
Operating income |
175,363 |
170,321 | |
Other income (expense), net |
(8,470) |
(19,618) | |
Income before provision for income taxes |
166,893 |
150,703 | |
Provision for income taxes |
55,691 |
45,802 | |
Net income |
$ 111,202 |
$ 104,901 | |
Net income per share: |
|||
Basic |
$ 2.10 |
$ 1.87 | |
Diluted |
$ 2.04 |
$ 1.85 | |
Weighted average common shares outstanding: |
|||
Basic |
52,834 |
55,963 | |
Diluted |
54,519 |
56,586 |
NU SKIN ENTERPRISES, INC. | |||
Consolidated Balance Sheets (Unaudited) | |||
(in thousands) | |||
September 30, 2017 |
December 31, 2016 | ||
ASSETS |
|||
Current assets: |
|||
Cash and cash equivalents |
$ 363,769 |
$ 357,246 | |
Current investments |
7,983 |
10,880 | |
Accounts receivable |
37,725 |
31,199 | |
Inventories, net |
252,470 |
249,936 | |
Prepaid expenses and other |
87,282 |
65,076 | |
749,229 |
714,337 | ||
Property and equipment, net |
449,555 |
444,732 | |
Goodwill |
114,954 |
114,954 | |
Other intangible assets, net |
68,904 |
63,553 | |
Other assets |
164,689 |
136,469 | |
Total assets |
$ 1,547,331 |
$ 1,474,045 | |
LIABILITIES AND STOCKHOLDERS' EQUITY |
|||
Current liabilities: |
|||
Accounts payable |
$ 41,638 |
$ 41,261 | |
Accrued expenses |
276,486 |
275,023 | |
Current portion of long-term debt |
101,701 |
82,727 | |
419,825 |
399,011 | ||
Long-term debt |
316,519 |
334,165 | |
Other liabilities |
93,464 |
76,799 | |
Total liabilities |
829,808 |
809,975 | |
Stockholders' equity: |
|||
Class A common stock |
91 |
91 | |
Additional paid-in capital |
460,782 |
439,635 | |
Treasury stock, at cost |
(1,284,043) |
(1,250,123) | |
Accumulated other comprehensive loss |
(69,233) |
(84,122) | |
Retained earnings |
1,609,926 |
1,558,589 | |
717,523 |
664,070 | ||
Total liabilities and stockholders' equity |
$ 1,547,331 |
$ 1,474,045 |
Nu Skin Social Media Channels
fb.com/nuskin twitter.com/nuskin instagram.com/nuskin
View original content with multimedia:http://www.prnewswire.com/news-releases/nu-skin-enterprises-reports-third-quarter-2017-results-300547809.html
SOURCE Nu Skin Enterprises, Inc.
Copyright 2017 PR Newswire
1 Year Nu Skin Enterprises Chart |
1 Month Nu Skin Enterprises Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions