Boston, MA 05/07/2014 (wallstreetpr) – Nu Skin Enterprises, Inc. (NYSE:NUS) reported sales worth $671.1 million during the announcement of first quarter results which are a record in itself for the Company. It is a 24 percent increase when compared to the first quarter of 2013.
The Currency headwinds affected the overall growth by a negative of 4 percent. In spite of the prevalent fluid situation in the markets, EPS (Earnings per share) for the quarter stood at$1.05, highlighting an annual increase of 17% over the past few years.
Truman Hunt, CEO and president of Nu Skin Enterprises, Inc. (NYSE:NUS) was ecstatic about the record first quarter results and the strong and steady revenue generation in all the five regions. He said” Despite the currency fluctuations in the worldwide markets along with unsettling business atmosphere in China during the reported quarter, the results are heartening to the company. The Company was proactive and reacted sharply to the challenges like regulatory concerns and media management. Although the events that occurred during the first quarter will adversely impact the annual results of 2014, we have shifted our attention towards viable and long-term expansion.
Operating Margins
The operating margin came down a tad bit when compared to the prior-year period from 15.3 percent to 15.1 for the reported quarter. Profit margin stood at 84.1 percent during the reported quarter up by 70 basis points compared to the first quarter of 2013.Selling expenditure calculated as a percent of sales saw an increase from 43.1 percent to 46.7 percent when compared to the prior-year period.
Administrative expenditure stood at 22.4 percent, calculated as a percentage of revenue. The prior-year period recorded 25.0 percent for general and administrative expenses.
Miscellaneous expenses recorded a loss of $3.6 million in the reported quarter. The prior-year period recorded a profit of $0.1 million
At the end of the quarter, Nu Skin Enterprises, Inc. (NYSE:NUS) accumulated $284.6 million worth cash. Outstanding shares worth $25.0 million were bought back, and $20.1 million dividend payments were made during the quarter. Income tax rate for the reported quarter was recorded at 34.2 percent when compared to 34.4 percent for the first quarter of 2013.
