Herbalife Ltd. Announces Second Quarter 2009 Results

by louabbott on August 3, 2009

Business Wire – Published August 3, 2009

Herbalife Ltd. (NYSE: HLF) today reported second quarter 2009 net sales of $571.8 million, a decrease of 10.6 percent compared to the same period of 2008, solely reflecting the unfavorable impact of currency fluctuations. Excluding the impact from currency fluctuations, local currency year-over-year net sales were flat with the second quarter 2008 results. For the quarter ended June 30, 2009, the company reported net income of $48.3 million, or $0.77 per diluted share, compared to $67.1 million, or $1.01 per diluted share in the second quarter of 2008, reflecting lower net sales and gross profit margins attributable to unfavorable currency fluctuations, coupled with a higher effective tax rate reflecting country mix, partially offset by accretion from the company’s share repurchase program. Excluding the impact from adjusting items in the second quarter (1), adjusted net income was $49.3 million, or $0.78 in adjusted diluted earnings per share, reflecting a decrease of 27.4 percent and 24.3 percent, respectively, compared to the same period in 2008.

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Also, read our company overview: Herbalife Facts, News and Review

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