07 February 2008

Nu Skin fourth-quarter earnings down 63 percent

Salt Lake Tribune :
"An extensive cost-cutting plan adopted by Provo-based Nu Skin Enterprises Inc. helped push its fourth-quarter earnings down 63 percent, but could put the Utah company on track for a solid year in 2008.

The drop in fourth-quarter earnings to $5.9 million came in great part because of a restructuring charge taken as part of a plan to cut costs and improve earnings. In November, Nu Skin said it would lay off an undisclosed number of people at its Provo headquarters and close 67 of 115 retail stores in China.

Although profits were down significantly in the quarter, revenue at the nutritional supplements and personal-care products provider rose 6 percent, to $306.1 million, compared with the same period last year, slightly above many analyst projections."

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