News Source: Npros.com
"Nu Skin Enterprises, Inc. (NYSE: NUS) today reported first-quarter revenue of $296.2 million, compared to $298.1 million in the first quarter of 2008. Reported revenue for the quarter declined 1 percent, but increased 4 percent on a constant currency basis, reflecting a negative 5 percent impact from foreign currency fluctuations. Earnings per share for the quarter were $0.19, or $0.28 when excluding $9.4 million in planned restructuring charges, compared to $0.21 in the prior-year.
"We are very pleased with strong first-quarter results," said Truman Hunt, president and chief executive officer. "Our innovative products and attractive business opportunity continue to produce growth in this difficult economic climate. We are generating local-currency growth as well as strong distributor sponsoring numbers globally as more people are attracted to opportunities to supplement or replace income.
"Our personal care business generated solid revenue growth of 19 percent in the quarter, driven by the continued success of the Nu Skin Galvanic Spa System. In addition, our restructuring efforts over the past three years are increasing profitability, as demonstrated by a significant improvement in first-quarter operating margin when excluding restructuring charges," said Hunt.
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