Nu Skin Focuses on Building Sales

Nu Skin Focuses on Building Sales

PROVO, UtahNu Skin Enterprises Inc. (NYSE:NUS) reported Feb. 5that for its fiscal year (FY03), ended Dec. 31, sales were up overall, butregions with decreased sales will get special attention in the coming year.

Total sales rose to $275.9 million from $250.2 million, while gross margindid the same, going from 80.6 percent of sales to 83.3 percent. Operatingexpenses rose to $192.6 million from $172.8 million, and net income increased to$23.1 million, or $.32 earned per share, from $18.0 million, or $.22 earned pershare.

Regionally, the company posted gains in North Asia and China while postinglosses in North America and South Asia. On a year-over-year basis, active andexecutive distributor counts improved 20 percent and 4 percent, respectively.

We continue to be optimistic about our growth prospects for 2004, saidTruman Hunt, president and chief executive officer. Japan, the United Statesand Mainland China results will be key to our success. Our target is to maintainsales volume in Japan ... and double Chinas revenue in 2004. He added thecompany expects to post revenues of $240 million to $245 million for the firstquarter of its fiscal 2004.