Herbalife profit rises with global sales in 3Q
LOS ANGELES (AP) — Nutrition and weight loss company Herbalife Ltd. said Monday that its profit grew 9 percent in the third quarter as sales of supplements sales in North America, Asia and other regions improved.
Net income was $117.8 million, or $1.04 cents per share, compared with earnings of $108 million, or 87 cents per share, a year ago. Sales increased 14 percent to $1 billion for the period ending Sept. 30.
Analysts polled by FactSet expected $1.01 per share on sales of $997 million.
"Our business momentum has continued through the third quarter with double digit volume growth from all six of our geographical regions," CEO Michael Johnson said in a statement.
North American sales grew 15.5 percent to $208.8 million. China sales increased nearly 41 percent to $77.4 million
The company expects to earn between 97 cents and $1.01 per share in the next quarter. Full-year earnings are seen between $3.99 and $4.03 per share, with sales rising 16 to 18 percent.