Nu Skin revenue surges by 23% in Q3 2012

Nu Skin Enterprises, skin care and cosmetics manufacturer, registered a surge in revenue of 23% to $526.2m in the third quarter ended 30 September 2012, compared to $428.4m for the same period in the previous year.

The firm has posted a net income of $54.17m in the current quarter, an increase of 15.8% as against $46.78m for the same period in 2011.

Nu Skin’s gross profit for the quarter rose to $439.4m, up from $357.7m for the corresponding quarter in the previous year.

Nu Skin Enterprises president and chief executive officer Truman Hunt said the firm by continuing to execute its business strategy was able to generate another successful quarter, making it reach a milestone of annual revenue of more than $2bn in 2012.

"We were particularly pleased with local-currency growth in Japan and South Korea. This growth reflects increased distributor activity in anticipation of the October limited-time-offer of our ageLOC Body Spa and related products. Our South Asia/Pacific and Greater China regions generated solid local-currency growth of 53 and 64 percent, respectively. The Americas and Europe regions also reported healthy gains with approximately 20 percent year-over-year local-currency growth," Hunt added.

The firm’s revenue in the North Asia for the third quarter 2012 increased to $184.7m, up from $184.3m during the same period last year.

Nu Skin posted revenue of $136.6m in the Greater China region for the third quarter an increase of 64%, as against $83.4m for the same quarter in the previous year.

In South Asia/Pacific, revenue for the third quarter grew 47% to $91.1m, while in Americas it improved by 19% to $70.5m, and in the Europe the figure was $43.2m, a growth of 9%.

Nu Skin Enterprises is a US-based skin care, cosmetics manufacturer and direct selling company, whose portfolio includes ageLOC anti-aging products, ageLOC R2 nutritional supplement, ageLOC Galvanic Spa System and ageLOC Galvanic Body Spa, as well as the ageLOC Transformation daily skin care system.

The firm operates in 53 markets globally and has more than 900,000 active distributors and preferred customers.