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Nu Skin Enterprises alters Q4 revenue & earnings guidance

05
Dec '05
Direct selling firm Nu Skin Enterprises Inc announced that it expects fourth-quarter revenue to be approximately $285 to $290 million versus prior company expectations of $300 to $305 million. Primarily the continued strengthening of the U.S. dollar against foreign currencies is impacting revenue. This anticipated decline in revenue is expected to reduce earnings per share by approximately $0.03.

“The primary factor causing us to revise fourth quarter revenue guidance is the significant weakening of foreign currencies against the U.S. dollar,” said President and Chief Executive Officer Truman Hunt.

Assuming a fourth quarter rate of 120 yen to the U.S. dollar, we estimate that currency fluctuations will decrease revenue by 7 percent year-over-year and 4 percent sequentially, or approximately $20 and $13 million, respectively, in reported revenue. In addition, we estimate that Japan local currency revenue will be softer than anticipated, declining 5 percent year-over-year.

However, including $3 million of U.S. convention revenue in October from Japanese distributors, Japan revenue would only decline approximately 3 percent year-over-year in local currency. Japan's results reflect a decline in our personal care business as well as slowing nutrition sales as we prepare to transition to the second-generation Scanner in 2006.

“In other major markets, we are encouraged by signs that our business is beginning to stabilize in Mainland China, and weare pleased with the distributor response to convention initiatives in the United States. We remain on track with expectations in these and other markets,” Hunt continued.


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