Earnings
USANA Says Stronger Dollar Hurt 1Q Results
The Associated Press
04/28/09 - 06:48 PM EDT
SALT LATE CITY (AP) Nutritional supplement maker USANA Health Sciences Inc. said Tuesday its profit shrank in the first quarter because the stronger dollar hurt sales outside the U.S.
USANA said its profit fell 9 percent, to $6.7 million, or 43 cents per share, from $7.3 million, or 44 cents per share a year ago. Revenue fell 4 percent, to $97.3 million from $101.6 million. The company said unfavorable foreign currency exchanges cut its revenue by 10 percent, but U.S. sales were also weaker than it expected.
Thomson Reuters says analysts expected 40 cents per share and $104.5 million in revenue.
The company said sales in North America slipped 10 percent, as its revenue decreased in the U.S., Canada and Mexico. Asia-Pacific sales fared better, rising 5 percent to $41.4 million.
USANA broadened its annual profit forecast, saying its net income may come in below its previous guidance, and the company also lowered its revenue estimate due to the stronger dollar and soft U.S. results.