Beach Season Spurring Sales Says Medifast CEO

Shares of Medifast (MED) - Get Report are in robust shape, up nine percent so far this year, heading into the weight loss provider's second busiest season of the year. The company's CEO Michael MacDonald said he is keeping up the pressure on competitors while helping his customers keep off the pounds. 'We are offering $99 for our products over our Med-Direct site for customers who really want to lose weight and get in shape for beach season,' said MacDonald. 'Plus our Take Shape for Life network is focused on their population just staying healthy and getting ready for the summer.' Last month, Medifast said first quarter net revenue from continuing operations decreased 1.5 percent from the prior year to $72.3 million. Income from continuing operations in the first quarter was $4.3 million, or $0.36 a diluted share. Revenue in Medifast's direct sales business unit, Take Shape For Life, was up nine percent to $56.7 million in the first quarter of 2016, compared to $52.1 million the prior year. This is the fifth straight quarterly improvement in the year-over-year trend. The total number of active earning Health Coaches in the first quarter was 12,600, compared to 12,100 in the first quarter of 2015.