PROVO, Utah—Nu Skin Enterprises Inc., a direct seller of personal-care products and nutritional supplements, on Thursday raised its full-year outlook based on its strong first-quarter results and expectations of a weak dollar.
Nu Skin anticipates 2008 earnings of between $1.17 and $1.22 per share on sales of $1.21 billion to $1.22 billion.
Previously, the company estimated full-year earnings of between $1.15 and $1.22 per share on revenue of $1.18 billion to $1.2 billion.
Analysts polled by Thomson Financial, on average, estimate a profit of $1.20 per share on sales of $1.21 billion in 2008.
For the second quarter, the company forecasts earnings of 26 cents to 28 cents per share on sales of $303 million to $308 million.
Analysts, on average, predict second-quarter earnings of 29 cents per share on revenue of about $302 million.
"Many socio-economic trends are working in our favor," said Truman Hunt, president and chief executive, in a statement. "A softening U.S. economy is encouraging more people to look at our business opportunity as a supplemental income source, while our international presence is allowing us to benefit from favorable currency fluctuations."
