"On the heels of a record first quarter, we are pleased to report today that the Greater China and South Asia regions have received approximately $150 million of orders for our new ageLOC products," said Truman Hunt, president and chief executive officer. "The products will be delivered in connection with upcoming regional events taking place in the second and third quarters. These latest, record-breaking introductions are not only a testament to the strength of our exclusive, super-class of ageLOC products, but further demonstration of the high-caliber and talented sales leaders we have in these regions, as well as throughout the world."
The company began the global roll-out of its new ageLOC products in the first quarter in the United States, Japan, Korea and Europe. The company's latest anti-aging products include the ageLOC® Galvanic Body Spa(TM), an advanced skin treatment system that is complemented by the new ageLOC®.
Body Shaping Gel and ageLOC® Dermatic Effects® Body Contouring Lotion; and ageLOC® R2 (R-squared), a nutritional supplement system designed to renew and recharge the body. Since launching the first ageLOC products three years ago, the exclusive anti-aging product portfolio has become a tremendous success for Nu Skin, generating sales of well more than $1 billion worldwide.
"Our previous guidance included a net revenue benefit of $60 million from these ageLOC product introductions, which takes into account potential cannibalization of other products sales, as well as order cancellations and product returns," said Ritch Wood, chief financial officer. "Based upon the orders we have received, we are raising our revenue guidance by $40 million and our earnings guidance by $0.06 earnings per share, bringing our full year guidance to $1.885 to 1.915 billion of revenue, and $2.98 to $3.06 in earnings per share. These orders will be filled and recorded as revenue in both the second and third quarters based on the timing of our fulfillment of the orders," concluded Wood.
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs. The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change except as required by law.
