USANA Health Sciences (USNA—NYSE) on Tuesday reported its fourth consecutive quarter of double-digit growth in sales, earnings and customer acquisition.
The health firm posted net income of $25.6 million in the third quarter, up 31 percent from $19.5 million a year ago. Diluted earnings were $1.92 per share, coming in 16 cents higher than the average estimate from analysts. The Utah-based company closed out the quarter with zero debt and $174 million in cash.
Revenue for the quarter rose 21.5 percent to $233.3 million, despite an $18.3 million hit from currency rates. Constant currency revenue increased 31.1 percent. The Asia Pacific region accounted for 72 percent of total sales, with 29 percent growth in the quarter. The Americas and Europe reported a 5.5 percent uptick in revenue. Globally, the company’s network of active sellers grew by 39 percent.
“While currency fluctuations negatively impacted our reported results, we generated strong local currency sales growth in nearly all of our markets,” Co-CEO Dave Wentz said in the company’s release. “Our results continue to be driven by our strategies for customer growth, which is our highest priority as we seek to improve the overall health and nutrition of our customers around the world.”
For the full year, management said it expects revenue of $915 million to $920 million, narrowing its previous guidance of $900 million to $920 million. The company expects earnings in the range of $7.25 to $7.35 per share, versus earlier guidance of $6.90 to $7.20 per share.