Nu Skin Enterprises Beats Estimates (NUS)

Nu Skin Enterprises, Inc. NUS announced on Tuesday morning that it beat consensus Wall Street estimates. Nu Skin Enterprises, Inc reported that its 3rd quarter net income rose to $35.3 million, or 55 cents per share, up from $25.6 million, or 40 cents per share, a year earlier. Revenue rose to $383.55 million, up from $334.24 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 48 cents per share, on revenue of $362.14 million. President and chief executive officer Truman Hunt said, "Our ageLOC anti-aging platform gives us a long-term competitive advantage with highly innovative anti-aging solutions in both skin care and nutrition. We have now rolled out the ageLOC Transformation skin care system in all of our markets and are generating strong, sustained revenue growth worldwide. We are particularly pleased with the emerging markets of South Asia/Pacific and Mainland China where we posted local currency revenue gains of 43 percent and 29 percent, respectively." Chief financial officer Ritch Wood added, "We are raising our 2010 projected revenue and earnings per share guidance to $1.52 to $1.53 billion and $2.04 to $2.07, respectively. We expect currency to benefit revenue about 1 to 2 percent in the fourth quarter and project revenue in the $388 to $398 million range with earnings per share in the $0.51 to $0.54 range. On November 18, we will be hosting our annual investor day and look forward to providing more detail on our business plans as well as our 2011 financial projections." Nu Skin Enterprises, Inc. (NUS) closed the previous trading day at $30.35 per share. Analysts covering the company's stock give it a consensus price target of $36.13 per share. Read more from Benzinga's Company news.