Medifast, Inc. (NYSE: MED), a leading manufacturer and distributor of clinically proven, healthy living products and programs, today reported financial results for the third quarter ended September 30, 2018.
Third Quarter 2018 Highlights:
Revenue of $139.2 million, an increase of 80.3% year-over-year
Active earning Coaches of 22,600, an increase of 59.2% year-over-year
Net income of $13.8 million, an increase of 106.1% year-over-year
Earnings per diluted share (‘EPS’) of $1.14, an increase of 107.3% year-over-year
‘We are very pleased with our record third quarter revenue and profitability which reflects an accelerated rate of growth in our total active earnings OPTAVIA coaches and coach productivity,’ commented Dan Chard, Medifast’s Chief Executive Officer.
‘We continued to successfully align our corporate and field leader activities behind a repeatable business rhythm focused on our long-term purpose and mission to offer the world lifelong transformation, one healthy habit at a time. We believe we are well positioned to deliver long-term sustainable growth and value for our shareholders.’
Third Quarter 2018 Results
For the third quarter of 2018, revenue increased 80.3% to $139.2 millionfrom revenue of $77.2 millionfor the third quarter last year. OPTAVIA-branded products represented 70% of consumable units sold for the third quarter of 2018 compared to 43% for the third quarter of last year.
The total number of active earning OPTAVIA Coaches for