Nature's Sunshine rises on currency exchange
This article was originally published in The Tan Sheet
Executive Summary
Favorable exchange rates in certain international markets, coupled with selective price increases, help Nature's Sunshine Products grow net sales revenue 4.7 percent to $87 million in the supplement direct-seller's first quarter. The global performance countered the effects of Venezuela's devaluation of the bolivar, which was a prime factor in Venezuelan net sales falling 53.1 percent to $1.5 million in the January-March period. The Provo, Utah-based company May 7 reported first-quarter net income of $4.2 million, compared to a loss of $1.5 million in the year-ago period. Diluted net income per share was 27 cents, versus a net loss of 9 cents a share in the 2009 quarter