Anti-Aging Boosts Business for Nu Skin

Fueled by continued success of its ageLOC products, Nu Skin Enterprises, Inc. reported third-quarter revenue rose 6% to $604.2 million, above guidance.
 
“We are pleased that we exceeded guidance and posted year-over-year growth during the quarter,” said Truman Hunt, president and chief executive officer. “We introduced ageLOC Youth in South Korea in the quarter and saw continued enthusiasm around the globe for our latest ageLOC products. We produced double-digit gains in North Asia and Greater China and posted growth in each of our regions with the exception of South Asia/Pacific, where a significant limited-time offer in the prior year made for a difficult comparison. We also generated modest growth in sales leaders globally.”
 
“We are raising our guidance for the year given strong results in the third quarter,” said Hunt. “Fourth-quarter promotional activities are focused on driving consumer loyalty. South Korea and South Asia will run ageLOC Me incentives, the Americas will launch ageLOC Me, and Japan and South Korea will launch ageLOC Youth. In addition, we have chosen to push the launch of ageLOC Me in the Greater China region to January of 2017.
 
“Toward the end of the quarter we began deploying funds to repurchase stock, and anticipate that by the end of 2016 we will have utilized the $210 million acquired through the convertible note investment made by Ping An Securities,” concluded Hunt.
 
“We are raising our revenue guidance for the year to $2.23 to $2.25 billion assuming a negative currency impact of approximately 2 percent,” said Ritch Wood, chief financial officer. “For the fourth quarter, we project revenue of $550 to $570 million.”
 
Nu Skin’s annual Investor Day is Dec. 7 in New York City.