Manufacturer Nu Skin has been handed a little boost thanks to strong performance over the last nine months, leading it to upping its revenue quite significantly in the fourth quarter.
The skin care firm has seen significant revenue for the fifth consecutive year causing it to update its anticipated results ahead of the ICR XChange Conference in Miami.
The company now projects fourth-quarter revenue of approximately $588 million, representing growth of 19 percent over the prior year.
"Our business continues to perform very well," says Truman Hunt, president and CEO. "When we forecasted results for 2012, we knew that we faced a difficult fourth-quarter comparison as a result of recognizing approximately $90 million of revenue from our product launch in the fourth quarter of 2011.”
“However, as a result of the dedicated efforts of our sales leaders and corporate personnel around the world, revenue growth will be 19 percent in the fourth quarter, surpassing prior revenue guidance by $58 million."
More of the same please
The Nu Skin boss believes that the positive will continue throughout the New Year, culminating in a record-breaking 2013.
"As forecasts become clearer for our ageLOC weight management launch in the back half of 2013, we look forward to updating the market on our full-year guidance. We see great enthusiasm building for this launch, reinforcing our forecast for strong results," he adds.
The company's estimated revenue of $2.17 billion for the year represents growth of more than 24 percent in 2012, the company's fifth consecutive record year.
Earnings growth is anticipated to be approximately 30 percent. In addition, Nu Skin repurchased $200 million of its stock during the year, approximately 7 percent of total shares outstanding.
It also recently announced its intention to significantly increase its dividend payment by 50 percent beginning with the first dividend in 2013, resulting in an increase of 140 percent in dividend payout over the last three years.