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USANA Health Sciences Reports Record First Quarter 2018 Net Sales and Increases 2018 Outlook
- Record first quarter net sales of $292.0 million, an increase of 14.4% year-over-year
- First quarter diluted earnings per share increased 38.4% to $1.19 per share
SALT LAKE CITY--(BUSINESS WIRE)--April 24, 2018--USANA Health Sciences, Inc. (NYSE: USNA) today announced financial results for its fiscal first quarter ended March 31, 2018.
For the first quarter of 2018, net sales were $292.0 million compared with $255.3 million in the prior-year period, or a 14.4% increase year-over-year. Favorable currency exchange rates positively impacted net sales by $16.4 million for the quarter. Targeted product promotions offered by the Company during the quarter contributed approximately $11 million to net sales and the Company’s launch of its new skincare line, Celavive, also contributed approximately $9 million in incremental sales for the quarter. The Company’s total number of active Customers increased 1.9% year-over-year to 585,000.
The Company reported net earnings for the first quarter of $28.9 million, compared with net earnings of $21.4 million reported in the prior-year period. Earnings per diluted share increased to $1.19 per diluted share, an increase of 38.4% on a year-over-year basis. The increase in net earnings was due primarily to higher net sales, lower relative operating expenses and a lower effective tax rate of 34.2% compared to 36% during the prior year period. Costs related to China and the Company’s internal investigation into its China operations were nominal during the first quarter of 2018 as compared to approximately $2.4 million, after tax, during the prior year period.
The following information was filed by Usana Health Sciences Inc (USNA) on Tuesday, April 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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