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USANA Health Sciences Updates 2018 Outlook - Quick Facts

USANA Health Sciences, Inc. (USNA) announced, for 2018, the company expects: consolidated net sales between $1.185 and $1.20 billion (previously between $1.17 and $1.20 billion); and earnings per share between $5.00 and $5.15, (previously between $4.75 and $5.05).

CFO, Doug Hekking, said, "Our business generated strong third quarter net sales, despite pressure from a strengthening U.S. dollar on both a sequential quarter and year-over-year basis. Although favorable currency exchange rates benefited our operating results in the first half of 2018, the U.S. dollar strengthened more than expected in the third quarter and we anticipate a similar pattern in the fourth quarter. Consequently, we have again reduced the estimated benefit to net sales from currency for the full year. This considered, and with only one quarter remaining in fiscal 2018, we have tightened our revenue outlook. Our operating results continue to be strong and, accordingly, we have tightened our range for diluted earnings per share and increased the top-end of our outlook."

Third quarter earnings per share increased 27.8% year-over-year to $1.24. Net sales were $296.8 million, an increase of 13.4% from previous year.

The Board has authorized up to $150 million in funding for share repurchases by the company of its outstanding common stock. The authorization is inclusive of the $24.4 million that was remaining under the prior authorization as of the end of the second quarter.

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