Nature’s Sunshine Q1 expectations
This article was originally published in The Tan Sheet
Executive Summary
Net earnings for first quarter ended March 31 expected to be roughly 50% below analysts' estimates, Provo, Utah-based firm announces. Shortfall anticipated even before write-down of a long-term investment that became impaired near the end of the quarter. Although firm would not specify impairment, write-down will be about $3 mil. before tax, $2 mil. after tax. To offset losses, Nature's Sunshine has implemented a company-wide hiring freeze, instituted cost-cutting program. Q1 results expected to reflect 5% drop in U.S. sales, 11% decline in international revenue due to operating losses in Brazil, Japan. Full results are slated for release the week of April 22...