Nu Skin Enterprises Inc. expects to fall short of analysts’ consensus estimates for profitability in the new year.
In advance of its annual investor conference in its home city of Provo, Utah, this afternoon [Friday], the direct marketer of anti-aging products said it foresees 2015 profits of between $3.80 and $4 a share on revenues of between $2.5 billion and $2.6 billion.
On average, Wall Street analysts had anticipated net income of $4.15 a share on revenues of $2.55 billion. The sales figure would represent growth of 4 to 6 percent in local currency, with reported revenues down 2 percent to flat on a reported basis.
Nu Skin said that it had received approval to begin direct selling in five new districts in Shanghai and two new cities in Jiangsu province.
The company has spent much of 2014 in talks with Chinese government officials about its business practices and in March was fined $540,000 for the sale of products lacking sufficient documentation and by unregistered direct sellers.
Shares were down 3.6 percent to $41.40 as New York Stock Exchange trading began Friday. Shares are down 69.2 percent from their adjusted closing price of $134.59 at the end of 2013.