Nu Skin announces positive 3rd quarter earnings growth

by louabbott on November 3, 2010

NuSkin Enterprises announced yesterday record 3rd quarter results in spite of a recession economy

Here’s some of the highlights of the PRNewswire as reported on by TradingMarkets.com . . .

Nu Skin Enterprises, Inc. (NYSE: NUS | PowerRating) today announced record third-quarter results, with revenue of $383.6 million, a 15 percent improvement over the prior-year period. Quarterly revenue was positively impacted 4 percent by foreign currency fluctuations. Earnings per share for the quarter were $0.55, a 38 percent improvement over the prior year.

“Our ageLOC anti-aging platform gives us a long-term competitive advantage with highly innovative anti-aging solutions in both skin care and nutrition,” said Truman Hunt, president and chief executive officer. “We have now rolled out the ageLOC Transformation skin care system in all of our markets and are generating strong, sustained revenue growth worldwide. We are particularly pleased with the emerging markets of South Asia/Pacific and Mainland China where we posted local currency revenue gains of 43 percent and 29 percent, respectively.”

“In September we also initiated a limited-time offer of our first ageLOC nutritional product, ageLOC Vitality, generating very encouraging results in Japan and the United States. Both markets experienced revenue trend improvements during the quarter, benefiting from distributor enthusiasm surrounding the new ageLOC Vitality product.”

Regional Results

North Asia. Third-quarter revenue in North Asia grew 12 percent to $170.5 million, compared to $152.4 million for the same period in 2009. Revenue was positively impacted 8 percent by foreign currency fluctuations. Local-currency revenue increased 20 percent in South Korea, offsetting a 2 percent local currency decline in Japan. The number of executive and active distributors in the region was up 3 percent and 1 percent, respectively, compared to the prior year.

Americas. Third-quarter revenue in the Americas was $63.7 million, compared to $61.3 million for the prior year. Revenue in the United States improved 8 percent, offsetting local currency declines of 5 percent in Canada, and 23 percent in Latin America. The number of executive distributors in the region increased 2 percent compared to the prior year, while the number of active distributors declined 4 percent.

Greater China. Revenue in Greater China improved 16 percent to $63.3 million for the quarter, and was positively impacted 2 percent by foreign currency fluctuations. Local-currency revenue in Mainland China improved 29 percent, while Taiwan and Hong Kong revenue improved 8 percent and 6 percent, respectively, over the prior-year period. The executive distributor count in the region increased 16 percent and the number of active distributors improved 12 percent.

South Asia/Pacific. Revenue in South Asia/Pacific was $50.2 million for the third quarter, a 55 percent improvement over the prior year. Regional results were driven by solid performances in all markets and were positively impacted 12 percent by foreign currency fluctuations. The region’s third-quarter executive count improved 35 percent, while the active distributor count increased 13 percent.

Europe. Third-quarter revenue in Europe was $35.7 million, a 6 percent improvement over the prior year. Results in the region were negatively impacted approximately 9 percent by foreign currency fluctuations. Executive and active distributor counts in the region increased 11 percent and 10 percent, respectively, compared to the prior year.

The balance of the article can be found at TradingMarkets.com.

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