USANA Health Sciences Inc. (USNA—NYSE) said Tuesday that revenue neared the billion-dollar mark in 2015, the company’s 13th consecutive year of record sales.
In the fourth quarter, sales of the brand’s health and wellness products totaled $232.6 million, up 2.1 percent from a year ago despite a comparatively strong dollar and a shorter reporting period—in 2014 the quarter comprised 14 weeks, versus 13 weeks in 2015. Management estimates that these two factors, taken together, shaved $16.5 million from quarterly sales and $53.6 million from annual sales.
In the Americas/Europe region, where revenue fell 6.3 percent to $60.5 million, USANA noted healthy local currency sales growth in both Canada (8.4 percent) and Mexico (13.3 percent). Asia Pacific revenue rose 5.4 percent to $172.1 million, boosted by a 13.5 percent increase in North Asia.
Quarterly earnings were $1.83 per share on income of $24.0 million, up 12.5 percent from Q4 2014. The Salt Lake City-based company also reported 20.6 percent growth in active Associates.
“We finished the year strong and achieved our goal for net sales, despite the significant negative impact from a stronger U.S. dollar and a tough prior year comparable that included an extra week of sales,” Co-CEO Dave Wentz said in a statement. “We also generated double-digit customer, earnings, and earnings per share growth in 2015 and in the fourth quarter, despite our decision to invest more aggressively in our strategies for long-term growth.”
Full-year revenue rose 16.2 percent to a record $918.5 million, largely driven by sales and Associate growth in the Asia Pacific region. Net income increased 23.5 percent to $94.7 million. The company posted record earnings of $7.18 per share, up 28.2 percent from 2014. The year-over-year comparison reflects not only higher earnings, but also a lower number of shares outstanding due to an ongoing share buyback.
“We believe 2016 will be another outstanding year for USANA as we continue to execute our personalization strategy,” said Co-CEO Kevin Guest. “In this regard, we have several new product and technology launches planned during the year, which will take USANA’s world-class products to a new level.”
In the current year, management expects consolidated revenue in the range of $1.02 billion and $1.05 billion. Earnings are projected to fall between $7.60 and $8.15 per share, taking into account planned investments in R&D, IT systems and infrastructure, and operations in mainland China.
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