News Source: PR Newswire
"PROVO, Utah, Feb. 6 /PRNewswire-FirstCall/ -- Nu Skin Enterprises, Inc. today reported fourth-quarter revenue of $306.1 million, a 6 percent improvement over the prior-year period and ahead of company guidance. Fourth-quarter net income and earnings per share were $5.9 million and $0.09, compared to $15.9 million and $0.23 during the same quarter of 2006. Fourth-quarter earnings per share were negatively impacted by planned restructuring charges of $17.0 million, or $0.17 per share. Revenue for the quarter was positively impacted 3 percent by foreign currency fluctuations."Concluding 2007 with good momentum sets the stage for Nu Skin Enterprises to generate record results in 2008," said Truman Hunt, president and chief executive officer. "During the fourth quarter, we continued to see promising growth trends in South Korea, the United States, Europe, Hong Kong and South East Asia. In China, we recently received approval to operate a direct selling model in all of the districts of Beijing and Shanghai, helping establish a good foundation for future growth in this market. In Japan, revenue met our expectations as the sales force responded positively to our sales promotions and marketing initiatives, which included the restaging of our Galvanic Spa System product.
"During the quarter, we also successfully executed phase two of our restructuring plan, including significant simplification of our operating infrastructure in China. These efforts are targeted to help us achieve our operating margin objective of 10.5 percent for 2008," said Hunt.
"
