Medifast, Inc. (NYSE: MED), a leading manufacturer and distributor of clinically proven, healthy living products and programs, today reported financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Highlights:
Revenue of $117.3 million, an increase of 54.9% year-over-year
Active earning Coaches of 19,700, an increase of 45.9% year-over-year
Net income of $14.1 million, an increase of 86.4% year-over-year
Earnings per diluted share (“EPS”) of $1.16, an increase of 84.1% year-over-year
“We are pleased to report a further acceleration in the business momentum we reported in the first quarter of the year, resulting in record revenues and profitability that exceeded our expectations,”
commented Dan Chard, Medifast’s Chief Executive Officer.
“The accelerating growth rate is an indication of the energy behind our integrated coach model tied to our powerful mission and a repeatable business rhythm capable of delivering long-term sustainable growth.
We are confident that we are well positioned for future growth and, based on these strong operational and financial results as well as our positive outlook for the remainder of the year, we are pleased to be able to raise our annual guidance once again this year.”
Second Quarter 2018 Results
For the second quarter of 2018, revenue increased 54.9% to $117.3 million from revenue of $75.7