Usana Health Sciences reported Tuesday a big jump in fourth quarter sales and profit.
The Utah-based seller of nutritional supplements and personal-care products said sales in the last three months of 2009 improved 5.2 percent, to a record $116.8 million, compared with $111.1 million the prior year. Excluding an additional week of sales in 2008, Usana's year-over-year sales rose 12.2 percent. But they also benefited by $6.5 million from currency-exchange rates.
Net earnings in the fourth quarter were $10.2 million, or 66 cents per share, compared with $4.5 million, or 29 cents per share. Excluding a one-time expense in the last three months of 2008, net earnings increased by $1.5 million, or 16.7 percent, and earnings per share increased by 10 cents, or 17.9 percent.
For the year ended Jan. 2, net sales increased by 1.8 percent, to a record $436.9 million.
Net earnings for 2009 were $33.6 million, or $2.17 per share, compared with $29.9 million, or $1.85 per share in the prior year. But excluding the one-time expense in 2008, net earnings decreased by $643,000, or 1.9 percent. The company attributed the decrease primarily to unfavorable currency-exchange rates and higher payments to its network of independent distributors. Earnings per share increased by 5 cents, or 2.4 percent, because of fewer shares in circulation.
Usana announced its results after the closing bell Tuesday. Its shares finished the day down 13 cents, or .5 percent, to finish at $25.94.
A federal judge has approved the $6 million settlement of a class-action lawsuit by shareholders who alleged officers of Nature's Sunshine Products misled them about its financial situation.
The agreement approved by U.S. District Judge Ted Stewart covers a 2006 suit filed after the company said it was restating its earnings, which caused its stock to fall. The company's insurer was to pay the settlement, which was announced in November.
