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Last $27.75 USD
Change Today +0.22 / 0.80%
Volume 130.5K
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

medifast inc (MED) Key Developments

Medifast Inc. Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-12-2015 09:00 AM

Medifast Inc. Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-12-2015 09:00 AM. Venue: InterContinental Boston, 510 Atlantic Avenue, Boston, MA 02210, United States. Speakers: Michael C. MacDonald, Chairman, Chief Executive Officer and Chairman of Executive Committee, Timothy G. Robinson, Chief Financial Officer.

Medifast Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of 2015

Medifast Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s income from continuing operations of $5.8 million, or $0.48 basic and diluted per share, compared to $6.6 million, or $0.50 basic and diluted per share, for the second quarter of 2014. Income from continuing operations excluding extraordinary legal and advisory expenses resulting from recent 13D filings would have been $6.0 million, or $0.50 per diluted share. The company’s net revenue from continuing operations decreased 3% to $72.2 million from net revenue of $74.7 million in the second quarter of 2014. Income from operations was $8,663,000 compared to $9,861,000 for the same period a year ago. Net income was $6,248,000 compared to $5,720,000 a year ago. Basic and diluted earnings per share were $0.51 compared to $0.44 a year ago. For the six months, the company reported revenue of $145,525,000 against $153,965,000 a year ago. Income from operations was $15,175,000 against $19,472,000 a year ago. Income from continuing operations before income taxes was $15,620,000 against $20,024,000 a year ago. Income from continuing operations was $10,263,000 or $0.84 diluted per share against $13,164,000 or $1.00 diluted per share a year ago. Net income was $10,692,000 or $0.88 basic and diluted per share against $11,687,000 or $0.89 basic and diluted per share a year ago. The Company expects third quarter 2015 net revenue from continuing operations to be in the range of approximately $65.0 to $68.0 million and earnings per diluted share from continuing operations in the range of $0.40 to $0.43 per diluted share. For fiscal year 2015, the company updated guidance of revenue from continuing operations to be in the range of $270.0 to $280.0 million and earnings per diluted share from continuing operations in the range of $1.70 to $1.80 per diluted share. The fiscal year 2015 guidance assumes a 34% to 35% effective tax rate.

Medifast Inc. to Report Q2, 2015 Results on Aug 05, 2015

Medifast Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Aug 05, 2015

Medifast Inc., Q2 2015 Earnings Call, Aug 05, 2015

Medifast Inc., Q2 2015 Earnings Call, Aug 05, 2015

Medifast Inc. Approves Amendment to the Amended and Restated Bylaws

Medifast Inc. approves has approved amendment to the company's amended and restated bylaws at the annual general meeting held on June 17, 2015.

 

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Industry Analysis

MED

Industry Average

Valuation MED Industry Range
Price/Earnings 18.6x
Price/Sales 1.2x
Price/Book 3.8x
Price/Cash Flow 27.2x
TEV/Sales 1.0x
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