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Nu Skin reports record Q3 results

Published October 31, 2012 8:59 am

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Nu Skin Enterprises Inc., a Provo-based multilevel marketing company that sells health and nutrition products, reported its third quarter revenue reached a record $526.2 million, a 23 percent increase over the same period in the prior fiscal year.

Earnings per share for the quarter were 87 cents, a 21 percent year-over-year improvement.

Additionally, the company announced that it is increasing its full-year 2012 revenue projection to $2.11 billion, a 21 percent growth rate over 2011.

"By continuing to execute on our business strategy, we were able to generate another record quarter, putting us on track to reach a milestone of more than $2 billion in annual revenue in 2012," Truman Hunt, Nu Skin's president and CEO said in a statement announcing the third-quarter results.

He said the quarter was highlighted by healthy trends in all of the company's regions, strong demand for its anti-aging products and growth in its customer base and sales force.

Nu Skin shares closed Wednesday at $47.33, up $5.39 for the day, or 12.8 percent.