Photo: USANA’s new MySmart Foods line. (USANA)
USANA Health Sciences Inc. (USNA—NYSE) raised its full-year earnings outlook following a second-quarter uptick in the company’s bottom line.
For the quarter ended July 2, 2016, the maker of health and wellness products posted a record profit of $25.76 million, or $2.07 a share, up from $25.42 million, or $1.92 a share, a year earlier. On average, analysts polled by Thomson Reuters had predicted earnings of $2.05 a share.
Quarterly sales totaled $258.5 million, a nearly 11 percent increase from the prior year’s $233.2 million. Analysts had predicted $256.7 million. Sales were up 16 percent in constant currency. The company recorded 15 percent sales growth in Asia Pacific, led by Greater China, where sales climbed 17 percent in dollars and 23 percent in constant currency. In the Americas/Europe region sales were essentially flat at $64.3 million.
“During the quarter, we held our Asia Pacific Convention in Singapore and initiated the launch of our ‘MySmart Foods’ products,” said USANA Co-CEO Dave Wentz. “Next month, we will hold our International Convention in Salt Lake City, where we will make another significant product announcement to an expected record-breaking number of attendees.”
For the full year, management expects earnings in the range of $7.90 to $8.20, up from its earlier guidance of $7.60 to $8.15. The Salt Lake City company affirmed its previous sales guidance of $1.02 billion to $1.05 billion.