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As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

nu skin enterprises inc - a (NUS) Key Developments

Nu Skin Enterprises Inc. - Analyst/Investor Day

To discuss the outlook for 2015

Nu Skin Enterprises Declares Quarterly Dividend, Payable on December 3, 2014

Nu Skin Enterprises Inc. announced its board of directors has declared a quarterly dividend of $0.345 per share, which will be paid on Dec. 3, 2014, to stockholders of record on Nov. 21, 2014.

Nu Skin Enterprises Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

Nu Skin Enterprises Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $638,800,000 compared to $908,299,000 in the same period last year. Operating income was $104,956,000 compared to $168,275,000 in the same period last year. Income before provision for income taxes was $106,029,000 compared to $168,779,000 in the same period last year. Net income was $68,308,000 or $1.12 per diluted share compared to $110,900,000 or $1.80 per diluted share in the same period last year. Revenue for the third quarter of 2014 was negatively impacted 3% by foreign currency fluctuations. For the nine months, the company reported revenue of $1,959,888,000 compared to $2,120,932,000 in the same period last year. Operating income was $260,890,000 compared to $365,517,000 in the same period last year. Income before provision for income taxes was $223,336,000 compared to $364,946,000 in the same period last year. Net income was $142,669,000 compared to $239,617,000 in the same period last year. Diluted earnings per share were $2.34 compared to $3.91 per share in the same period last year. For the fourth quarter, the company anticipates revenue of $590 million to $610 million, with earnings per share of $0.72 to $0.77. Earnings per share for the fourth quarter will be negatively impacted $0.08 by a pre-payment fee in connection with the refinancing of company’s debt. The company anticipates the impact from currency on fourth-quarter revenue will be about $50 million when compared to currency rates in the prior-year period and about $30 million sequentially. Additionally, while the company anticipates core business trend improvement, the company estimates $20 million of LTO sales in the fourth quarter against $350 million of LTO sales in the fourth quarter of 2013, and $80 million of LTO sales in the third quarter of 2014. CapEx is expected to between $15 million and $20 million.

Nu Skin Enterprises, Inc. Enters into Credit Agreement

On October 9, 2014 (the Closing Date), Nu Skin Enterprises Inc. entered into a Credit Agreement (the Credit Agreement) by and among the Company, as Borrower, and Bank of America, N.A., HSBC Bank USA, N.A., Royal Bank of Canada, Fifth Third Bank, KeyBank National Association, Zions First National Bank, and Deutsche Bank AG New York Branch, as Lenders, with Bank of America, N.A. serving as Administrative Agent. The Credit Agreement provides for a $127,500,000 term loan facility, a ¥6,593,406,594 term loan facility and a $187,500,000 revolving credit facility, each with a term of five years. The term loan facilities were drawn in full on October 10, 2014, and $112,500,000 of the revolving credit facility was also drawn on October 10, 2014. The proceeds of the credit facilities are permitted to be used for working capital, capital expenditures and other lawful general corporate purposes of the Company. The revolving credit facility includes a subfacility for swingline loans of up to $10 million, and up to $10 million of the revolving credit facility is available for the issuance of letters of credit. The term loan facilities will amortize in quarterly installments in amounts resulting in an annual amortization of 5.0% during the first year, 7.5% during the second year, 10.0% during the third year, 12.5% during the fourth year and 15.0% during the fifth year after the Closing Date, with the remainder payable at final maturity. The loans under the Credit Agreement bear interest either: during any interest period selected by the Company, at the London interbank offered rate with a maturity comparable to such interest period (LIBOR), adjusted for statutory reserves, plus an initial spread of 2.75% per annum, subject to adjustment based on the consolidated leverage ratio of the Company, or at the great of (x) the federal funds effective rate plus 0.50%, (y) the prime rate from time to time announced by Bank of America, N.A. and (z) LIBOR for a one-month interest period plus 1.00%, plus an initial spread of 1.75% per annum, subject to adjustment based on the consolidated leverage ratio of the Company. If an event of default occurs under the Credit Agreement, the interest rate on overdue amounts will increase by 2.00% per annum. The obligations under the Credit Agreement are guaranteed by certain material domestic subsidiaries of the Company (collectively with the Company, the Loan Parties) and are secured by a lien on the capital stock of material subsidiaries of the Loan Parties, pursuant to security and guarantee documents entered into on the Closing Date. The Credit Agreement requires the Company to maintain a consolidated leverage ratio not exceeding 2.25 to 1.00 and a consolidated interest coverage ratio of no less than 3.00 to 1.00. The Credit Agreement also includes other covenants, including covenants that, subject to certain exceptions, restrict the ability of the Company and its subsidiaries: to create, incur, assume or permit to exist any liens, to incur additional indebtedness,to make investments and acquisitions, to enter into mergers, consolidations or similar transactions, to make certain dispositions of assets, to make dividends, distributions and prepayments of certain indebtedness, to change the nature of the Company's business, to enter into certain transactions with affiliates, to enter into certain burdensome agreements, to make certain amendments to certain agreements and organizational documents and to make certain accounting changes.

Nu Skin Enterprises Inc. to Report Q3, 2014 Results on Nov 05, 2014

Nu Skin Enterprises Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Nov 05, 2014

 

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