Boosted by double-digit percentage gains in four of its five distribution regions, Nu Skin Enterprises Inc. on Thursday posted fourth-quarter profits that more than doubled.
For the three months ended Dec. 31, income skyrocketed 109 percent to $30.3 million, or 47 cents a diluted share, from $14.5 million, or 23 cents, in the year-ago quarter. Total revenues rose 19 percent to $378.1 million from $317.6 million. By geographic region, Europe posted the highest gain, rising 44.2 percent to $41 million, followed by the South Asia-Pacific region, up 35.7 percent to $35.3 million. Revenue from the Americas region increased 33.9 percent to $78.9 million. North Asia posted a 10.5 percent rise to $167.2 million, with China up 5.4 percent to $55.7 million. “We finished our 25th anniversary year on a high note with record revenue, a record launch of our new skin care system and a record number of executive distributors,” said Truman Hunt, president and chief executive officer.
The company in 2009 introduced the AgeLOC antiaging skin care system.
“The system was introduced for a limited-time offering with a further rollout occurring in the majority of our markets during the first quarter of 2010,” said Hunt, noting previous introductions were staged geographically, but that AgeLOC was done on a condensed timeline.
Based on fourth-quarter revenue results, the company increased its 2010 revenue and earnings per share guidance to $1.38 billion to $1.41 billion and $1.65 to $1.75, respectively.
For the year, income jumped 37.5 percent to $89.8 million, or $1.40 a diluted share, from $65.3 million, or $1.02, in 2008. Total revenues gained 6.7 percent to $1.33 billion from $1.25 billion.
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