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UPDATE 1-Nu Skin Q1 profit tops Street, raises 2010 outlook
April 28, 2010 / 10:47 AM / 7 years ago

UPDATE 1-Nu Skin Q1 profit tops Street, raises 2010 outlook

* Q1 EPS $0.48 vs est $0.42

* Q1 sales $364.1 mln vs est $342.14 mln

* Sees Q2 EPS $0.44 to $0.46 VS est $0.42

* Sees Q2 sales $362 mln to $370 mln

April 28 (Reuters) - Nu Skin Enterprises Inc (NUS.N) posted a better-than-expected first-quarter profit, helped by sales of an anti-aging skin-care product the direct seller launched late last year, and raised its outlook for the full year.

Nu Skin, which sells personal-care products under its namesake, Epoch and Nutricentials brands, earned $31.0 million, or 48 cents a share, compared with $11.8 million, or 19 cents a share, a year ago.

Revenue rose 23 percent to $364.1 million.

Analysts on average were looking for a profit of 42 cents a share, before items, on revenue of $342.1 million, according to Thomson Reuters I/B/E/S.

“The ageLOC product launch has been the most successful in our history, generating more than $80 million in just the first two quarters of product sales,” chief executive Truman Hunt said in a statement.

The direct seller of personal-care products and nutritional supplements forecast a second-quarter profit of 44 cents to 46 cents a share, on revenue of $362 million to $370 million. Analysts expect a profit of 42 cents a share, on sales of $352.1 million, for the period.

For 2010, it sees a profit of $1.80 to $1.88 a share, on revenue of $1.44 billion to $1.46 billion.

Shares of the Provo, Utah-based company closed at $31.46 Tuesday on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Vinu Pilakkott)

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