Nu Skin Announces Q1 Revenues

Nu Skin Enterprises, Inc. said first-quarter revenue was $471.8 million, compared to $543.3 million in the prior-year period. Revenue was negatively impacted approximately 5% by foreign currency fluctuations, according to the company. Earnings per share for the quarter were $0.06, or $0.42 excluding a non-cash charge associated with a recent Japan customs ruling. This compares to earnings per share in the prior-year period of $0.60.
 
“Our first-quarter performance was in line with our expectations and we are optimistic about the impact of upcoming product launches, which began in April and will continue in the second quarter,” said Truman Hunt, president and chief executive officer. “We are seeing an enthusiastic response to the introductions of ageLOC Youth and ageLOC Me, and we anticipate that these product launches will drive core business improvement throughout the remainder of 2016.”
 
The company also announced that it is raising its guidance for the year.
 
“We are in the early stages of a new product cycle and are looking forward to the continued roll out of ageLOC Me and ageLOC Youth in the second quarter, with additional product events scheduled in the back-half of the year,” added Hunt. “In the second quarter, we have limited-time offers of ageLOC Me in Greater China and ageLOC Youth in South Asia, and we introduce ageLOC Me on a full-time basis in Japan.”
 
According to Ritch Wood, chief financial officer, the firm expects constant-currency revenue growth of 6 to 8 percent in the second quarter.

“We project second-quarter revenue of $560 to $580 million, assuming a negative foreign currency impact of approximately 4%,” Wood commented.