Photo: The Nu Skin Innovation Center at the company’s Provo, Utah, headquarters.
Nu Skin Enterprises Inc. (NUS—NYSE) reported better-than-expected first-quarter results after the close of the market on Thursday.
In the quarter ended March 31, the beauty and wellness company posted earnings of 6 cents a share. Excluding a non-cash charge related to a recent Japan customs ruling, which the company has appealed, earnings were 42 cents a share, down from 60 cents a year ago. Analysts polled by Thomson Reuters had predicted earnings of 37 cents a share.
When measured by the dollar, revenue contracted across the board, most notably in the Americas, down 18 percent, and Greater China, down 15 percent. The Utah-based company also reported fewer customers and independent sellers in all regions except EMEA, where total customers edged up 2 percent.
Overall, revenue fell 13 percent to $471.8 million, versus $543.3 million in the first quarter of 2015. Analysts’ estimates had put revenue at $465.5 million.
“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,” Truman Hunt, CEO, said in a statement.
In the second quarter, management expects constant-currency revenue growth of 6 to 8 percent, boosting full-year revenue guidance to $2.16 billion to $2.20 billion, cut 4 to 5 percent by exchange rates. The company expects full-year earnings in the range of $2.29 to $2.49.