USANA Increases Guidance for FY03

USANA Increases Guidance for FY03

SALT LAKE CITY--USANA Health Sciences Inc. (NASDAQ:USNA)reported April 15 that for its first quarter (1Q03), ended March 29, sales rosesubstantially, making the company increase its financial outlook for FY03.

Sales were up, posting at $40.9 million from $28.6 million. Gross margin wasalso up, settling at 77.4 percent of sales from 73.1 percent, while operatingexpenses were $27 million, up from $19 million. Net earnings were $3.6 million,or $.34 per diluted share earned, up from $1.1 million, or $.12 per dilutedshare earned.

"Based on 1Q03's operating results, we have increased our guidance forFY03," said Gilbert A. Fuller, chief financial officer. "We now expectannual revenue of approximately $170 million and earnings per share ofapproximately $1.40. The results for the latter half of the year are, of course,dependent upon the success of our opening in South Korea, scheduled for3Q03."