nu skin enterprises inc - a (NUS) Key Developments
Nu Skin Enterprises Adopts Amendment to Bylaws
Feb 12 15
On February 9, 2015, Nu Skin Enterprises Inc.'s Board of Directors adopted an amendment and restatement of the Company's Second Amended and Restated Bylaws. The Third Amended and Restated Bylaws, which are effective as of February 9, 2015, amend the Company's Second Amended and Restated Bylaws to provide for majority voting for the election of directors in uncontested elections. Previously, the Company's bylaws provided for the election of directors by plurality voting in all circumstances. Section 2.2 of the Third Amended and Restated Bylaws further requires that any director then serving on the Board of Directors who does not receive the required majority shall resign pursuant to an irrevocable resignation previously tendered and effective upon (i) such person failing to receive the required majority vote and (ii) the Board of Directors' acceptance of such resignation. Section 2.2 further provides that, within 90 days after the date of the certification of the election results, the Board of Directors will determine whether to accept or reject the resignation or whether other action should be taken, and the Board of Directors will publicly disclose its decision. Section 1.11 of the Third Amended and Restated Bylaws provides that a stockholder's advance notice of a director nomination must include a statement whether the stockholder's nominee intends to tender, promptly following the nominee's election, such an irrevocable resignation.
Patricia A. Negron Decides Not to Stand for Reelection to the Nu Skin Enterprises Inc. Board of Directors
Feb 12 15
On February 10, 2015, Patricia A. Negron informed Nu Skin Enterprises Inc. that she has decided not to stand for reelection to the Company's Board of Directors at the Company's 2015 Annual Meeting of Stockholders. This will enable her to focus on a new consulting partnership after ten years of service on the Company's Board of Directors.
Nu Skin Enterprises Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Reaffirms Earnings Guidance for the Full Year 2015
Feb 5 15
Nu Skin Enterprises Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company’s total revenue was $609.6 million compared to $1,055 million in the prior-year period. Operating income was $91.298 million compared to $188.595 million a year ago. Income before provision for income taxes was $75.171 million compared to $191.994 million a year ago. Net income was $46.507 million or $0.77 per diluted share compared to $125.271 million or $2.02 per diluted share a year ago. Revenue for the quarter was negatively impacted 4% by foreign currency fluctuations. Cash flow from operations for the quarter were approximately $90 million.
For the full year, the company’s total revenue was $2,569.495 million compared to $3,176.718 million in the prior-year period. Operating income was $352.188 million compared to $554.112 million a year ago. Income before provision for income taxes was $298.507 million compared to $556.940 million a year ago. Net income was $189.176 million or $3.11 per diluted share compared to $364.888 million or $5.94 per diluted share a year ago. Annual revenue was negatively impacted 3% by foreign currency fluctuations.
The company provided earnings guidance for the first quarter and reaffirms earnings guidance for the full year 2015. For the period, The company anticipates revenue of $530 to $550 million, which includes a negative foreign currency impact of approximately $50 million, and first-quarter earnings per share of $0.70 to $0.74.
For the full year 2015, the company’s revenue and earnings guidance remains consistent with prior guidance of $2.50 billion to $2.56 billion and $3.80 to $4.00 per share, respectively.
Nu Skin Enterprises Announces Quarterly Dividend, Payable on March 18, 2015
Feb 5 15
Nu Skin Enterprises Inc. announced its board of directors has increased the quarterly cash dividend to $0.35 from the previous dividend of $0.345 per share. The quarterly dividend will be paid on March 18, 2015, to stockholders of record on Feb. 27, 2015.
TPG Reportedly Eyeing Firms
Jan 24 15
Herbalife Ltd. (NYSE:HLF) is being eyed by private equity firms. The post reported that TPG Capital, L.P. seriously considered buying Herbalife in 2014. A source with direct knowledge of the matter said, “They took a long look at Herbalife.” The source further added that TPG also considered taking over Nu Skin Enterprises Inc. (NYSE:NUS) stake. According to the news report, it is not known why TPG's interest in Herbalife and Nu Skin ended without any investment. It added that presently, TPG is reportedly looking at acquiring Avon Products Inc. (NYSE:AVP). Recently, a report concerning talks between TPG and Avon sent the latter’s shares up 15%. The source added that If TPG does not buy Avon, it ‘might take a new look’ at Herbalife.