USANA Health Sciences, Inc. today announced financial results for its fiscal third quarter ended September 30, 2017.
For the third quarter of 2017, net sales were $261.8 million compared with $254.2 million in the prior-year period, or a 3.0% increase year-over-year.
There was no meaningful year-over-year impact from changes in currency exchange rates on quarterly net sales. The Company’s total number of active Customers increased by 2.4% year-over-year to 563,000.
Net earnings for the third quarter were $23.8 million compared with $30.1 million during the prior-year period, a decrease of 21.0%. Higher SG&A expense and a higher effective tax rate reduced net earnings during the quarter as they have throughout 2017.
Earnings per diluted share for the third quarter were $0.97 compared with $1.20 in the prior year period, a decrease of 19.2%. The expense related to China and the Company’s internal investigation into its China operations, which was disclosed in February 2017, negatively impacted the third quarter by approximately $1.9 million and earnings per diluted share by $0.05.
Weighted average diluted shares outstanding were 24.6 million for the third quarter of 2017, compared with 25.1 million in the prior-year period. The Company repurchased 865 thousand shares during the quarter for a total investment of