11.05.14
Nu Skin Enterprises, Inc. posted a slip in third-quarter results, with a 30% decline in revenue to $638.8 million. Comparable revenue in the third quarter of 2013 included $203 million in sales from the company's limited-time introduction of its ageLOC TR90 weight management system. According to the company, revenue for the third quarter of 2014 was negatively impacted by foreign currency fluctuations.
In Greater China, third-quarter revenue declined 50% to $226.7 million. North Asia increased 2% to $205.5 million, while revenue in South Asia/Pacific fell 30% to $88.9 million. Revenue in the Americas declined 10% to $76.7 million, while the EMEA region slipped 8% to $40.9 million.
"We made significant progress during the third quarter," said Truman Hunt, president and chief executive officer. "We believe our business in China is stabilizing as we are seeing improving trends in the early sales leader pipeline, we strengthened our capital structure and balance sheet flexibility, we are making good progress in our product development efforts, and we generated positive operating cash flow. We have also seen continued enthusiasm among our sales force at recent sales leader conventions in our South Asia/Pacific, Greater China and Americas regions.
"Our sales results are heavily impacted by our product launch schedule. Last year's second-half launch, which generated approximately $550 million in sales, provides a difficult year-over-year comparison. However, excluding product launch sales, the core business has stabilized and is trending positively sequentially. The dynamics of the core business reinforce our confidence in the long-term prospects for Nu Skin and our ability to renew local-currency growth in 2015."
In Greater China, third-quarter revenue declined 50% to $226.7 million. North Asia increased 2% to $205.5 million, while revenue in South Asia/Pacific fell 30% to $88.9 million. Revenue in the Americas declined 10% to $76.7 million, while the EMEA region slipped 8% to $40.9 million.
"We made significant progress during the third quarter," said Truman Hunt, president and chief executive officer. "We believe our business in China is stabilizing as we are seeing improving trends in the early sales leader pipeline, we strengthened our capital structure and balance sheet flexibility, we are making good progress in our product development efforts, and we generated positive operating cash flow. We have also seen continued enthusiasm among our sales force at recent sales leader conventions in our South Asia/Pacific, Greater China and Americas regions.
"Our sales results are heavily impacted by our product launch schedule. Last year's second-half launch, which generated approximately $550 million in sales, provides a difficult year-over-year comparison. However, excluding product launch sales, the core business has stabilized and is trending positively sequentially. The dynamics of the core business reinforce our confidence in the long-term prospects for Nu Skin and our ability to renew local-currency growth in 2015."