Nu Skin Tops $1 Billion in Record 2004

Nu Skin Tops $1 Billion in Record 2004

PROVO, Utah--Nu Skin Enterprises Inc. (NYSE:NUS) posted record results for its fourth quarter and fiscal year 2004 ended Dec. 31. Boosted by growth in China and the United States, revenue for the year rose 15 percent to $1.14 billion, surpassing the billion-dollar mark for the first time in company history. Earnings for the year climbed to $77.7 million or $1.10 per basic share from $67.9 million or $0.86 per basic share earned the previous year. On the strength of record December subscription orders, fourth quarter revenue hit $.31 million, an 11 percent year-over-year increase, while earnings per share (EPS) were $0.31, the same mark as fourth quarter 2003.

Crediting new product introductions, the company's Pharmanex division experienced exceptional growth compared to its slow-but-steady growth Nu Skin personal care business and its slumping but restructuring Big Planet division. Management also noted fourth quarter results were impacted by $5 million in first-time expenses for a convention in Japan.