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Provo's Nu Skin sees record second quarter revenues

Published August 1, 2013 2:56 pm

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated.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. of Provo reported record second quarter revenue Thursday of $682.9 million, a 15 percent increase over the same quarter last year.

Quarterly earnings per share increased 30 percent to $1.22 from 94 cents in the prior year, the company said as it increased its projections for revenue by $90 million to $2.95 billion for the year.

Net income was $74.4 million for the second quarter that ended June 30, up from $60.4 million in the same period of 2012.

The company said its revenues increased because of a 32 percent growth in active independent distributors. Nu Skin is a multi-level marketer in which products are sold to independent distributors who can make money by selling directly to retail customers and by recruiting others to become distributors.