PROVO -- Nu Skin Enterprises Inc.'s fourth-quarter earnings rose 23 percent, helped by favorable foreign currency changes and strong growth in some overseas markets.
The company, which sells anti-aging skin-care products and nutritional supplements, also reaffirmed its full-year forecast on Wednesday and boosted its quarterly dividend by 8 percent.
President and CEO Truman Hunt said in a statement on Wednesday that strong growth rates were reported in Mainland China, South Korea and the South Asia/Pacific region.
Net income increased to $37.3 million, or 58 cents per share, for the period ended Dec. 31 compared with $30.3 million, or 47 cents per share, a year earlier.
This beat the 54 cents per share that analysts polled by FactSet expected.
Revenue climbed 6 percent to $401.2 million from $378.1 million, buoyed by strength in Greater China, North Asia and the South Asia/Pacific region. Analysts expected $398.2 million in revenue.
Revenue for Europe edged up 1 percent, while revenue for the Americas fell 22 percent.
For the year, earnings surged 52 percent to $136.1 million, or $2.11 per share, compared with $89.8 million, or $1.40 per share, in the previous year. Full-year revenue climbed 16 percent to $1.54 billion from $1.33 billion.
The company based in Provo, Utah recently announced that it is looking to double its earnings to $4 per share by 2015.
Nu Skin anticipates first-quarter net income of 50 cents to 53 cents per share on revenue of $380 million to $390 million. The company maintained its full-year guidance for earnings of $2.25 to $2.35 per share on revenue of $1.6 billion to $1.63 billion.
Analysts predict first-quarter earnings of 54 cents per share on revenue of $391.6 million. Wall Street expects full-year earnings of $2.36 per share on revenue of $1.64 billion.
Nu Skin raised its quarterly dividend 8 percent to 13.5 cents. The company said the increase will start in the first quarter. The dividend will be paid on March 16 to shareholders of record on Feb. 25.