UPDATE 1-Vitacost.com cuts Q1 outlook, shares fall

Tue Apr 20, 2010 6:03pm EDT

* Sees Q1 EPS $0.08-$0.09 vs est $0.15

* Sees Q1 rev $57.0 mln-$57.5 mln vs est $59.4 mln

* Sees 2010 EPS $0.40-$0.50, rev $235 mln-$245 mln

* Shares fall 30 pct

April 20 (Reuters) - Online health supplement retailer and manufacturer Vitacost.com VITC.O cut its first-quarter outlook due to lower gross margins and a shift in the recognition of revenue from certain shipments into the second quarter, sending its shares down 30 percent in extended trade.

The Boca Raton, Florida-based company forecast earnings between 8 cents and 9 cents a share, on revenue of $57.0 million and $57.5 million.

It earlier forecast profit between 14 cents and 15 cents a share, on revenue of $58 million to $60 million.

Analysts on average were expecting the company to earn 15 cents a share, on revenue of $59.4 million, according to Thomson Reuters I/B/E/S.

The company said it has been hurt by a shift in product mix to more sales of lower-margin products.

Vitacost.com said $1.0 million to $1.2 million of revenue would shift from the first quarter to the second quarter due to a logistics issue at its Lexington, North Carolina plant.

Shares of the direct marketer of health and wellness products were down 30 percent at $8.76 in post-market trade. They closed at $12.56 Tuesday on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Anne Pallivathuckal)

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