Nu Skin Enterprises Issues 3Q04 Results

December 6, 2004

1 Min Read
Nu Skin Enterprises Issues 3Q04 Results

Nu Skin Enterprises Issues 3Q04 Results

PROVO, UtahNu SkinEnterprises Inc. (AMSE:NUS) announced financial results for the third quarter offiscal 2004 ended Sept. 30 (3Q04).

Revenue for 3Q04 was $283.3 million, a 13 percent increaseover revenue of $250.2 million in the third quarter of 2003 (3Q03). The growthwas driven by a 25 percent increase in active distributors and a 14 percentincrease in executive distributors. Revenue and earnings were also positivelyimpacted by significant year-over-year growth in Greater China, continuedmomentum in U. S. business, and foreign currency fluctuations.

Net income totaled $20.9 million, and earnings per share were$0.29 for 3Q04, compared to net income of $15.1 million and earnings per shareof $0.19 for 3Q03.

The companys gross margin was 83.2 percent for 3Q04,improving approximately 70 basis points compared to 3Q03. The year-over-yearimprovement was due to the discontinuation of low-margin Big Planet products andservices, strong gross margins in mainland China, as well as favorable foreigncurrency exchange rates.

As reported on Oct. 4, we posted positive year-over-yearrevenue growth in nearly all of our markets around the world, said TrumanHunt, chief executive officer.

The companys cash position at the end of the quarter was$123.6 million, with $30.9 million of cash flow generated from operations and$5.6 million paid in dividends for the quarter.

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