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Another Record Quarter for Nu Skin
Posted: August 1, 2013
Nu Skin Enterprises, Inc. record second-quarter results with revenue of $682.9 million, a 15% increase over the prior-year period. Revenue for the quarter was negatively impacted 3% by foreign currency fluctuations. Quarterly earnings per share increased 30% to $1.22 from $0.94 in the prior year.
“We are extremely pleased with second-quarter results that reflect the strong momentum of the business,” said Truman Hunt, president and CEO of Nu Skin. “We are particularly pleased with these results given the record regional ageLOC product launches in the prior-year period. Additionally, we generated continued growth of both our consumer and sales leader base, reflected in 32% growth in actives and 23% growth in sales leaders. Overall, we saw healthy trends throughout the global business, particularly in the greater China, North Asia and Americas regions.”
In Greater China, second-quarter revenue for Nu Skin increased 35% to $269.1 million, compared to $199.7 million in the prior year, which included approximately $100 million in product launch revenue. The region’s results were negatively impacted 3% by foreign currency fluctuations. The sales leader count in the region improved 51%, while the number of actives increased 121% compared to the prior year.
Second-quarter revenue in North Asia was $196.8 million, compared to $177.7 million for the same period of 2012. The region’s results were negatively impacted 12% by foreign currency fluctuations. Japan local-currency revenue improved 5% and South Korea generated local-currency revenue growth of 54%. The number of sales leaders in the region was up 21% while the number of actives improved 15%.
Revenue in South Asia/Pacific was $85.9 million, a 13% decline compared to the prior year. Revenue in the prior year included approximately $40 million in product launch sales. Results were not notably impacted by foreign currency fluctuations. The region’s second-quarter sales leaders decreased 20% while actives increased 16% compared to the same period in 2012.
Revenue in the Americas improved 17% to $84.3 million, compared to $71.8 million in the prior-year period. The region’s results were negatively impacted 5% by foreign currency fluctuations. The number of sales leaders in the region improved 16% while the number of actives increased 3% compared to the prior year.
Revenue in the EMEA region was $46.8 million, a 2% improvement over the prior-year period. The region’s results were positively impacted 1% by foreign currency fluctuations. Sales leaders decreased 3%, while actives increased 4% compared to the prior year.
“As we look to the back half of the year, we are ramping up for what we expect to be our largest-ever product launch,” said Hunt. “Given the growth momentum of the business, we are again increasing the sales forecast for the remainder of the year. We expect the upcoming launch of ageLOC TR90 and the strength of the business in several key markets will lead to another record year as annual revenue will approach the $3 billion mark,” Hunt concluded.