Nu Skin Enterprises Inc.’s growth spurt has continued in 2012, fueled in part by its ageLOC skin care franchise.
In the first quarter ended March 31, the direct seller’s net income more than tripled to $47.8 million, or 74 cents a diluted share, compared to $15.3 million, or 24 cents a share, in the year-ago period. The company’s total revenue gained 16.7 percent to $462 million, compared to $395.8 million in the same quarter last year.
“New product rollouts helped boost revenue trends in the Americas, North Asia and Europe, as reflected by strong executive distributor growth of 11 percent during the quarter,” said Truman Hunt, Nu Skin’s president and chief executive officer. He said he expects strong sales throughout the year, as the company continues the global rollout of its premium priced ageLOC products.
That said, the company increased guidance for 2012: Revenue is expected to be in the $1.85 billion to $1.86 billion range with earnings of $2.92 to $3 a share.
In the first quarter, the company achieved sales gains across each of its five regions, including in the U.S., where sales rose 14 percent.
Hunt said, “Emerging markets also performed well in the first quarter. The Greater China region posted a 35 percent year-over-year increase, and the South Asia/Pacific region continued to build momentum in anticipation of the launch of new ageLOC products in the second quarter.”