PROVO, Utah— Personal care products maker Nu Skin Enterprises Inc. beat out Wall Street’s estimates and posted a quarterly profit with higher margin and strong performance in all of its markets, raising its earnings outlook for 2010.
According to Thomson Reuters, analysts on average were expecting earnings of $1.89 a share. For the second quarter (2Q) ended June 30, net income was $32.4 million, or 50 cents a share, compared with net income of $22.1 million, or 35 cents a share, a year ago. Revenue rose 20 percent to $388.4 million. Analysts on average expected earnings of 46 cents per share on revenue of $369.7 million. Gross margin raised 130 basis points to 82.5 percent, mainly on account of higher-margin ageLOC products.
"We are particularly pleased with the strength of the business in emerging markets, including China and Southeast Asia," said chief executive Truman Hunt.
The company’s shares closed at $28.82 Wednesday on the New York Stock Exchange.