Nu Skin Enterprises, Inc. posted first-quarter results with revenue rising 24% to $671.1 million.
“We are pleased to report record first-quarter results, generating year-over-year growth in all five of our regions,” said Truman Hunt, president and chief executive officer. “Our results are particularly encouraging given the business disruption we experienced in China during the first quarter, as well as currency headwinds we faced in many markets. With respect to China, our team took aggressive, proactive steps to address media and regulatory concerns in a timely manner. While these first-quarter events in China will have a negative impact on 2014 results, we are now focused on generating sustainable, long-term growth.”
In Greater China, first-quarter revenue increased 63% to $278.9 million. North Asia rose 5% to $195.5 million. South Korea generated local-currency revenue growth of 38%, while Japan local-currency revenue declined 14%. The number of sales leaders in the region was up 7% and the number of actives improved 11%.
Revenue in the Americas improved 6% to $79.9 million. South Asia/Pacific rose 6% to $71.2 million. The EMEA region climbed 9% to $45.6 million.
“Because we are only a few days into the recommencement of promotional activities in China, it is difficult to forecast how the business will perform,” said Ritch Wood, chief financial officer. “Ideally, we would have more time to monitor the direction of the business in China before providing updated guidance. That said, our current estimate of second-quarter revenue would be around $700 million.”