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