USANA Health Profit Falls, Cuts FY Outlook; Stock Down 7%

(RTTNews) - USANA Health Sciences Inc (USNA) Tuesday reported first-quarter net earnings of $16.5 million or $1.15 per share compared with $17.8 million or $1.28 per share last year.

On average, three analysts polled by Thomson Reuters estimated earnings of $1.30 per share for the quarter. Analysts' estimates typically exclude special items.

Results were impacted by higher associate incentives expense due to the pricing and compensation plan initiatives implemented last year.

Revenues for the quarter were up 8% at $182.4 million compared with $169 million in the prior year. Analysts estimated revenues of $185.9 million.

Sales gained momentum due to customer growth, partly offset by foreign currency losses as well as challenging media and regulatory environment in China.

Looking ahead to fiscal year 2014, the company now expects earnings of $5.50 to $5.65 per share and revenues of $770 million to $790 million. It earlier expected earnings of $5.80 to $5.95 per share and revenues of $790 million to $810 million.

Analysts expect earnings of $6.04 per share on revenues of $801 million for fiscal 2014.

Salt Lake City, Utah-based USANA Health develops science-based nutritional and personal care products focusing on chronic degenerative disease.