PROVO, Utah—Nu Skin Enterprises Inc., a personal care products maker, posted its quarterly profit that reported higher margin and strong performance in all of its markets, and raised its earnings outlook for 2010. For 2010, the company is expecting to earn $1.90 to $1.96 a share, compared with earlier estimate of $1.80 to $1.88 a share.
Analysts on average were expecting earnings of $1.89 a share, according to Thomson Reuters. For the second quarter (2Q) ended June 30, net income was $32.4 million, or 50 cents a share, compared with net income of $22.1 million, or 35 cents a share, a year ago; and revenue rose 20 percent to $388.4 million. Analysts on average expected earnings of 46 cents per share on revenue of $369.7 million. Gross margin rose 130 basis points to 82.5 percent, mainly on account of higher-margin ageLOC products.
"We are particularly pleased with the strength of the business in emerging markets, including China and Southeast Asia," said chief executive Truman Hunt.
The company’s shares closed at $28.82 Wednesday on the New York Stock Exchange.
