Nu Skin Financials Released

Nu Skin Enterprises Inc.

Nu Skin Enterprises Inc. (NUS—NYSE) announced record fourth quarter and full-year results for 2013.

2013 Fourth Quarter Results
For the fourth quarter, revenue was $1.06 billion, an 82 percent improvement over the prior-year period. Revenue was negatively impacted 4 percent by foreign currency fluctuations. Earnings per share for the quarter were $2.02, a 108 percent year-over-year improvement.
In Greater China, fourth quarter revenue increased 248 percent to $481.6 million, compared to $138.3 million in the prior-year period. Fourth quarter revenue in North Asia was $286.3 million, compared to $246.9 million for the same period in 2012. Revenue in South Asia/Pacific was $99.5 million, a 57 percent increase compared to the prior year. In the Americas, revenue improved 59 percent to $126.1 million, compared to $79.1 million in the prior-year period. Revenue in Europe was $62.3 million, a 21 percent improvement over the prior year.
The company’s operating margin was 17.9 percent for the quarter, compared to 15.4 percent in the prior year. Gross margin during the quarter was 84.4 percent, up 80 basis points over the prior-year period.
The company’s cash and short-term investment position at the end of the quarter was $547.1 million. Dividend payments during the quarter were $17.6 million, and the company repurchased $50.0 million of its outstanding shares, leaving $395 million in the company’s repurchase authorization at year end.

2013 Annual Results
The company reported full-year 2013 revenue of $3.177 billion, a 49 percent year-over-year improvement. Annual revenue was negatively impacted 3 percent by foreign currency fluctuations. Earnings per share for the year were $5.94, a 69 percent increase over 2012. Operating margin for the year was 17.4 percent, up 140 basis points compared to 2012.
In response to recent media reports in China and the ensuing investigation by Chinese regulators, the company’s audit committee recently began an internal review of the company’s China operations. The company is unable at this time to predict the timing and outcome of the review. Given this review and the possibility that various components of its annual report on Form 10-K could be impacted, the company’s board of directors had determined that it could not file its annual report by the March 3 due date. The company currently expects that the audit committee will have made sufficient progress in its review to enable the company to file its annual report by the March 18 extended filing deadline.
Nu Skin Enterprises Inc. also announced its board of directors has declared a 15 percent increase in its quarterly cash dividend to 35 cents per share, compared to the previous dividend of 30 cents per share. The dividend is payable on March 26, 2014, to stockholders of record on March 14, 2014. The increase would move the company’s annual dividend to $1.38 per share, subject to regular quarterly determination by the board of directors, compared to $1.20 per share for 2013.


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