Last $44.83 USD
Change Today -0.83 / -1.82%
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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

herbalife ltd (HLF) Key Developments

Herbalife Ltd. Announces Launch of Herbalife24 Product Line in Canada

Herbalife Ltd. announced the launch of Herbalife24 product line in Canada. Herbalife24 consists of five products that allow athletes to customize their nutrition program based on their specific sport, day-to-day needs and training demands. Each product is tested for banned substances by an independent third-party laboratory assuring athletes that what they put into their bodies is exactly what is listed on the label. Herbalife24 products are available exclusively through a network of Independent Herbalife Members.

Herbalife Ltd. Plans Expansion of Manufacturing Capabilities in China

Herbalife Ltd. announced plans to expand its manufacturing capabilities in China, as it looks to increase its capacity in line with anticipated growth in this strategically important market. This would add to Herbalife's existing manufacturing facilities in Suzhou, and its botanical extraction plant in Changsha. Herbalife has identified an existing, newly built facility in Jiangning High-tech Industry Park, Nanjing as the location for its newest manufacturing facility, due to the unique environment it provides for companies operating in the life science industries, as well as the relative speed to operation in having only to renovate an existing facility. Jiangning High-tech Industry Park brings together companies from across the entire industry research and development; incubation; small- and large-scale manufacturing; and marketing to create and foster innovation and intellectual collaboration. Herbalife will invest up to $40 million in a first phase of development, to bring the facility up to the high operating standards. This first phase is expected to be complete and the facility operational by the end of 2015, with the potential for a second phase of development, given the size and flexibility of the facility. This new facility will ultimately provide up to 65% of the company's total product requirements in China. Herbalife received its first direct-selling license in China in March 2007 and now has licenses for the company to conduct its direct-selling business in 25 provinces, municipalities or autonomous regions. The Herbalife Innovation and Manufacturing facility in Suzhou was opened in 2009 and was the company's first owned manufacturing facility anywhere in the world. The botanical extraction facility in Changsha, Hunan province came into full operation in 2013.

Herbalife Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter Ending September 30, 2014; Revises Earnings Guidance for the Year Ending December 31, 2014

Herbalife Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported worldwide net sales of $1,306,200,000 against $1,219,239,000 a year ago. Operating Income was $196,288,000 against $192,357,000 a year ago. Income before income taxes was $174,882,000 against $186,798,000 a year ago. Net income was $119,532,000 or $1.31 diluted per share against $143,162,000 or $1.34 diluted per share a year ago. Net income, as adjusted was $141,371,000 against $150,731,000 a year ago. Diluted earnings per share, as adjusted was $1.55 against $1.41 per share a year ago. The company generated cash flow from operations of $156.9 million; invested $39.6 million in capital expenditures. For the six months, the company reported worldwide net sales of $2,568,849,000 against $2,342,886,000 a year ago. Operating Income was $323,891,000 against $361,278,000 a year ago. Income before income taxes was $284,363,000 against $350,346,000 a year ago. Net income was $194,160,000 or $2.02 diluted per share against $262,035,000 or $2.44 diluted per share a year ago. Net cash provided by operating activities was $347,583,000 against $351,453,000 a year ago. Purchases of property, plant and equipment was $105,482,000 against $56,048,000 a year ago. Net income, as adjusted was $292,421,000 against $288,107,000 a year ago. Diluted earnings per share, as adjusted was $3.05 against $2.68 per share a year ago. As on date, net debt was $1,064,470,000. For the third quarter ending September 30, 2014, the company expects EPS of $1.49 to $1.53. The company expects capital expenditure in the range of $45 million to $55 million and effective tax rate in the range of 27% to 29%. For the year ending December 31, 2014, the company raised its earnings view to a range of $6.17 to $6.32, vs. expectations of $6.30 per share. The company expects capital expenditure in the range of $175 million to $195 million and effective tax rate in the range of 27.5% to 29.5%.

Herbalife Ltd. Announces Executive Changes

Herbalife Ltd. announced that it has appointed Alan L. Hoffman to the newly established role of Executive Vice President of Global Corporate Affairs reporting to Michael O. Johnson, Herbalife's chairman and CEO. Hoffman will lead public policy, corporate communications, government affairs, community relations and philanthropy, effective August 25, 2014. Hoffman brings over 20 years of public policy, communications and government affairs experience to the corporate affairs role. Presently, he serves as the Senior Vice President for Global Public Policy at PepsiCo, where he oversees policy development, external relations and government relations. Herbalife also announced that Barbara Henderson will be retiring as its Senior Vice President of Global Corporate Communications.

Herbalife Ltd. to Report Q2, 2014 Results on Jul 28, 2014

Herbalife Ltd. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 28, 2014

 

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