Herbalife's Q3 net profit rose 37% to US$108M due in part to improved sales in Latin America, Asia; revenue jumped 30% to US$895.2M
November 1, 2011
– Nutrition and weight loss company Herbalife Ltd. said Monday that its profit grew 37 percent in the third quarter as its sales in Latin America and Asia improved.
Herbalife said its income grew to $108 million, or 87 cents per share, from $78.9 million, or 63 cents per share. Revenue increased 30 percent, to $895.2 million from $688.4 million.
Analysts were expecting the company to report a profit of 76 cents per share and $845.2 million in revenue, according to FactSet.
Herbalife said revenue from the U.S. and Canada grew 16 percent to $180.7 million and revenue from Mexico increased 35 percent to $113 million. Sales in South and Central America jumped 51 percent to $143.7 million, and revenue from the Asia-Pacific region rose 41 percent to $255.2 million. Revenue from Europe, the Middle East, and Africa gained 22 percent to $147.7 million, and sales in China were up 7 percent to $55 million.
The company expects to earn $3.14 per share to $3.18 per share this year. That's up from a previous forecast of $2.97 per share to $3.07 per share. Analysts expect $3.08 per share.
For 2012, the company forecast a profit of $3.25 per share to $3.45 per share, and it said its sales will rise 8 to 10 percent.
Analysts expect Herbalife to earn $3.54 per share on average. Shares of Herbalife rose $1.02 to $62.36 on Monday, and in aftermarket trading, the stock slid $1.46, or 2.3 percent, to $60.90.
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