NEW YORK ( TheStreet) -- Herbalife (HLF) shares dipped 0.3% to $38.63 after the market closed on Monday despite the company beating Wall Street's first-quarter estimates and raising earnings guidance.
The nutrition specialist reported revenue of $1.1 billion, a 17% increase over the prior year's quarter, topping analysts' estimate of $1.07 billion. Herbalife also enjoyed worldwide volume growth of 13% compared with the same period last year.
Excluding items, Herbalife earned $1.27 a share, up from 88 cents a share in the prior year's quarter. Analysts surveyed by Yahoo! Finance were looking for earnings of $1.07 a share.
The Los Angeles-based firm, which has recently faced accusations that it's a pyramid scheme, also raised its 2013 guidance to between $4.60 and $4.80 a share. Previously, the company had forecast earnings between $4.45 and $4.65 a share. Excluding items, analysts surveyed by Yahoo! Finance were looking for earnings of $4.66 a share.For its fiscal second quarter, Herbalife expects earnings between $1.14 and $1.18 a share. Excluding items, analysts are looking for earnings of $1.26 a share. "Herbalife continues to deliver record results in sales and profitability as our independent distributors go deeper into existing markets, developing more and more customers using our nutrition products every day," said Michael Johnson, Herbalife's CEO, in a statement released after market close. Herbalife shares closed up 1.25% at $38.75 during Monday's session. -- Written by James Rogers in New York Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org
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