Nu Skin Enterprises Inc. (NUS) Wednesday said its profit for the fourth quarter increased, as revenues grew 19 percent led by "strong trends in Japan, South Korea and Mainland China." Earnings and revenues for the quarter easily beat Street estimates.
Meanwhile, the company issued a weak guidance for the first quarter, which is indicated to miss current Street expectations. Nu Skin also lifted its full year 2013 outlook.
Nu Skin said its revenue for the period grew 19 percent to $588.2 million from $495.3 million in the prior-year period. Analysts polled by Thomson Reuters estimated revenues of $579.5 million for the quarter.
Chief Executive Truman Hunt said, "Our growth in the fourth quarter was driven by particularly strong trends in several key markets including Japan, South Korea and Mainland China where we continue to see tremendous results from our latest ageLOC products."
North Asia revenue improved to $250.2 million from $204.3 million, while Greater China increased 28 percent to $141.7 million. Europe revenue rose 38 percent to $52.8 million, while Americas improved 4 percent to $80.1 million. Utah-based Nu Skin's fourth-quarter profit improved to $59.2 million or $0.97 per share from $49.52 million or $0.76 per share last year. Analysts expected earnings of $0.94 per share for the quarter. Analysts' estimates typically exclude one-time items.
Looking ahead to the first quarter, the company expects earnings of $0.75 - $0.77 per share and revenue of $500 million - $510 million. Analysts currently anticipate first-quarter earnings of $0.84 per share and revenue of $514.20 million.
For the full-year 2013, Nu Skin now expects earnings of $3.77 to $3.92 per share and revenues of $2.30 billion - $2.35 billion. Analysts currently estimate earnings of $3.97 per share, on revenues of $2.33 billion for the year.
Previously, the company expected earnings of $3.70 to $3.85 per share on revenues of $2.25 to $2.30 billion for the year.
"We expect 2013 will be another record year with healthy trends in all of our regions and a record launch of our new ageLOC weight management system, which we plan to introduce through a global limited time offer in the fall," said Hunt.
NUS is currently trading at $41.76, down $1.23 or 2.86%, on the NYSE.
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