Nu Skin Registers Record Second Quarter Revenue

Nu Skin Enterprises, Inc., Provo, UT, reported record second quarter revenue of $284.2 million, up 18% from the second quarter of 2003. Net income rose to $20.3 million from the same period in 2003. Second quarter personal care revenue was $142.9 million in the second quarter, up 28% compared to prior-year results and up 23% excluding the impact of foreign currency fluctuations.

For the six months ended June 30, 2004, revenue increased 19% over prior-year results to $548.2 million, while net income improved to $34.8 million.

Executives said favorable results were attributed to progress in Mainland China, accelerated growth in the company’s U.S. business, beneficial foreign currency fluctuations, and an ongoing emphasis on distributor and customer retention programs. Nu Skin executives estimate revenue growth of 15% in the third quarter, with sales reaching $280 to $285 million.

Also, Nu Skin also announced today the repurchase of 3.1 million shares of common stock from members of the company’s original stockholder group.