Primerica, Inc. announced financial results for the quarter ended September 30, 2014. Total revenues were $339.2 million, net income was $41.6 million, or $0.75 per diluted share, and net income return on stockholders’ equity was 12.8% in the third quarter of 2014.
In the third quarter, operating revenues increased by 9% to $339.5 million and net operating income increased by 2% to $41.8 million compared with $310.8 million and $41.0 million, respectively, in the year ago quarter. Operating results were driven by strong product performance including a 10% increase in total Investment and Savings Product sales and a 16% growth in average client asset values as well as a 10% growth in Term Life net premiums year-over-year.
Net operating income was impacted by an acceleration of equity compensation expense related to retirement plan modifications as well as higher incurred claims versus the year ago period. Net operating income per diluted share was $0.76 and net operating income return on adjusted equity was 13.8% for the quarter.
Changes in retirement provisions of employee equity awards issued in February of 2014 accelerated recognition of expenses as discussed in the Current Report on Form 8-K dated September 17, 2014. These changes increased insurance and operating
Monthly Archives: November 2014
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Primerica Reports Third Quarter 2014 Results
by Nicole Dunkley • • 0 Comments
Primerica, Inc. announced financial results for the quarter ended September 30, 2014. Total revenues were $339.2 million, net income was $41.6 million, or $0.75 per diluted share, and net income return on stockholders’ equity was 12.8% in the third quarter of 2014.
In the third quarter, operating revenues increased by 9% to $339.5 million and net operating income increased by 2% to $41.8 million compared with $310.8 million and $41.0 million, respectively, in the year ago quarter. Operating results were driven by strong product performance including a 10% increase in total Investment and Savings Product sales and a 16% growth in average client asset values as well as a 10% growth in Term Life net premiums year-over-year.
Net operating income was impacted by an acceleration of equity compensation expense related to retirement plan modifications as well as higher incurred claims versus the year ago period. Net operating income per diluted share was $0.76 and net operating income return on adjusted equity was 13.8% for the quarter.
Changes in retirement provisions of employee equity awards issued in February of 2014 accelerated recognition of expenses as discussed in the Current Report on Form 8-K dated September 17, 2014. These changes increased insurance and operating
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Covered-up campaign signs used for target practice
by Successful IBO • • 0 Comments
Campaign signs may seem obsolete as soon as the last ballot is cast, but workers at one Utah gun range say they’re perfect for another purpose: target practice.
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American Capital to split into 3 companies
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American Capital Ltd. said Wednesday that it plans to split into three companies and cut an unspecified number of jobs.
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How to build strong networks . . . with an uncommon twist
by wahanelson • • 0 Comments
By Diana Schneidman I’d guess you have attended networking events, struck up conversations with strangers, and exchanged business cards. You’ve expanded your reach via LinkedIn groups and Facebook groups and Twitter lists. You’ve posted articles on your blog and maybe even guest articles on other people’s blogs. You’ve added friends and connections on Facebook, Twitter, […]
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NHTC Reports Quarterly Revenue Increased 125% To $31.8 Million
by Nicole Dunkley • • 0 Comments
Natural Health Trends Corp., a leading direct selling company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, announced financial results for the quarter and nine month periods ended September 30, 2014.
Third Quarter Financial Highlights
Total revenues were $31.8 million, up 125% compared to $14.2 million in the third quarter last year.
Operating income was $5.5 million, up 312% compared to $1.3 million in the third quarter last year.
Net income was $5.4 million, or $0.42 per diluted share, compared to $1.3 million, or $0.12 per diluted share, in the third quarter last year.
Year-to-Date Financial Highlights
Year-to-date revenues were $89.2 million, up 167% compared to $33.4 million in the first nine months last year.
Operating income was $14.8 million, up 475% compared to $2.6 million in the first nine months last year.
Net income was $14.6 million, or $1.16 per diluted share, compared to $2.5 million, or $0.22 per diluted share, in the first nine months last year.
“We continued our strong momentum into the third quarter, with our highest level of orders in any quarter this year,” commented Chris Sharng, President of Natural Health Trends Corp. “We are effectively leveraging our business model, with a 308% increase in
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Youngevity Announces Official Grand Opening In Russia
by Nicole Dunkley • • 0 Comments
Youngevity International, Inc., a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced the grand opening of its new distribution and sales support center in Moscow, Russia.
A ribbon cutting celebratory event held on November 1, 2014 welcomed key leaders and distributors to inaugurate the opening of Youngevity’s first office in Russia.
In order to support this growing market, Youngevity’s new office will provide a central location in Moscow that is fully equipped with a sales and distribution center to handle product ordering to delivery, a large conference room to hold distributor education and training sessions, customer service desks, and a product showroom.
“We are proud to launch Youngevity’s first office in Russia and we plan to open a number of distribution points to cover the region,” said Ricardo Spilman, Director of Sales and Operations for Eastern Europe and Israel.
“Russia is one of the fastest growing billion dollar markets in the direct selling industry. The entrepreneurial spirit is amazing in Russia as we already have hundreds of new Russian distributors that attended our first training sessions and they are highly motivated to get started with their
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Nature’s Sunshine Names Richard Zhang And Henry Zhou As Managing Directors, China
by Nicole Dunkley • • 0 Comments
Nature’s Sunshine Products, Inc., a leading natural health and wellness company engaged in the manufacture and direct sale of premium-quality nutritional and personal care products, announced the appointment of Richard Zhang as Managing Director, China for Nature’s Sunshine Products (“NSP”), and the appointment of Henry Zhou as Managing Directors, China.
“I am confident that Mr. Zhang and Mr. Zhou will be excellent additions to our growing leadership team in China,” said Gregory L. Probert, Nature’s Sunshine Products’ Chairman and CEO. “Both gentlemen are uniquely qualified to help lead our growth in this key market, bringing rich experiences in direct selling and consumer products as well as developing and managing business in China.”
“We are confident that their combined leadership will help ensure the successful launch of our Nature’s Sunshine-branded products in retail locations across China and Synergy-branded products through a direct selling model. I look forward to embarking on this journey to expand our Distributor and consumer bases and product lines into this region through our multi-brand, multi-channel go-to-market strategy.”
“I am thrilled to have Mr. Zhang and Mr. Zhou join our team to execute our China strategy,” added Paul Noack, Nature’s Sunshine Products’ President of China and New Markets. “I look
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Herbalife Shares Drop, but CEO Optimistic
by mallen@directsellingnews.com • • 0 Comments
Global health and wellness company Herbalife Ltd. (HLF—NYSE) reported its third quarter earnings on Monday after markets closed, disappointing investors with its earnings miss and a lower than anticipated fourth quarter outlook.
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12 DSA Candidates Win Congressional Seats
by mallen@directsellingnews.com • • 0 Comments
The Direct Selling Association backed 13 congressional candidates in the Nov. 4 election who have taken a strong stance on direct selling and entrepreneurialism. Twelve of the 13 candidates won.