Herbalife Q3 2012 net sales surge by 14%

Nutritional supplements and personal care products manufacturer Herbalife has reported a 14% increase in net sales to $1.02bn in the third quarter ended 30 September 2012, compared to $895.22m for the same quarter in 2011.

The firm’s net income for the quarter increased to $117.8m, up from $108m for the same period in the previous year.

Herbalife chairman and CEO Michael Johnson said in the third quarter the company’s business momentum continued with double digit volume growth from all of its six geographical regions.

"Our 2013 guidance for double-digit volume and EPS growth illustrates our belief in continued growth driven by the ongoing global expansion of daily consumption and our city by city approach to deepen our penetration in existing markets," Johnson added.

The firm’s net sales in the US for the third quarter 2012 increased to $208.8m, up from $180.7m during the same period last year.

Herbalife posted net sales of $288.2m in the Asia Pacific region for the third quarter, as against $255.1m for the same period in the previous year.

The firm’s South and Central American sales grew to $167.4m in the present quarter, compared to $143.6m for the same period in the 2011.

In China, the net sales for the third quarter were $77.4m, while in Mexico it was $127.4m and in the Europe, the Middle East and Africa (EMEA) the figure was $147.4m.

Herbalife is a Los Angeles-based is a multi-level marketing company, whose portfolio includes nutritional supplements and personal care products.

The company distributes its products in 84 countries through a network of approximately 2.7 million independent distributors.