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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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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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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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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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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“Pyramid Scheme Or Not, Herbalife Is Tanking”
by Tina Williams • • 0 Comments
The LA Times released the following article today, making a bold prediction about industry giant, Herbalife:
In December 2012, Hedge fund investor Bill Ackman painted a huge bull’s-eye on the back of Herbalife, labeling the Los Angeles nutritional supplements company an illegal pyramid scheme and placing a $1-billion short bet against its shares.
Ackman supported his bet with a 334-slide PowerPoint presentation that eviscerated the company in heroic detail. Whether Herbalife’s business model is illegal — ongoing investigations by federal and state authorities have that issue, and others, under scrutiny — much of what Ackman said at the time appears well-taken today.
So far this year, Herbalife’s shares are down about 43% — including a roughly 20% drop Tuesday (as of this writing) after the company shocked investors with a bad quarterly report and a pessimistic view of the future Monday. Its shares are currently trading below $45. Ackman, whose short bet is thought to have been made at about $50 a share, appears to be back in the black, after having faced a hefty loss when the stock reached the low $80s earlier this year.
As Ackman observed, Herbalife’s business model has long been questionable, relying on overhyped products, an almost invisible research-and-development program, and the targeting
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MONAT Announces New President
by Tina Williams • • 0 Comments
Mr. Luis Urdaneta and MONAT Global Inc., a wholly owned subsidiary of Alcora Corp. and a U.S. based innovator in the Direct Selling and Hair Care industries, today announced the appointment of Mr. Stuart A. MacMillan as President of the Corporation.
Prior to joining the Company, Mr. MacMillan has held a number of senior management responsibilities across diverse functional areas, most recently as Managing Partner of IMPACT This Day where he was a trusted counsel to Alcora’s Directors on the establishment and strategic direction for their new subsidiary; MONAT Global.
Mr. MacMillan brings with him, a wealth of experience and success. He was President of Arbonne Canada from 2006 to 2010 and also headed up Sales Strategy for Arbonne USA from 2008 to 2010. Prior to Arbonne, Mr. MacMillan was the first International President of Excel Telecommunications, a billion dollar Telecommunications Company in the Direct Selling Industry.
His proven leadership and track record in building successful teams has championed him as a featured keynote speaker at professional events around the world, including South America, the UK and the Caribbean. Prior to his time in the Direct Selling Industry, Mr. MacMillan held other senior executive positions with Bell Canada Inc. and ACC Telecom
Hot Business News Today
MONAT Announces New President
by Tina Williams • • 0 Comments
Mr. Luis Urdaneta and MONAT Global Inc., a wholly owned subsidiary of Alcora Corp. and a U.S. based innovator in the Direct Selling and Hair Care industries, today announced the appointment of Mr. Stuart A. MacMillan as President of the Corporation.
Prior to joining the Company, Mr. MacMillan has held a number of senior management responsibilities across diverse functional areas, most recently as Managing Partner of IMPACT This Day where he was a trusted counsel to Alcora’s Directors on the establishment and strategic direction for their new subsidiary; MONAT Global.
Mr. MacMillan brings with him, a wealth of experience and success. He was President of Arbonne Canada from 2006 to 2010 and also headed up Sales Strategy for Arbonne USA from 2008 to 2010. Prior to Arbonne, Mr. MacMillan was the first International President of Excel Telecommunications, a billion dollar Telecommunications Company in the Direct Selling Industry.
His proven leadership and track record in building successful teams has championed him as a featured keynote speaker at professional events around the world, including South America, the UK and the Caribbean. Prior to his time in the Direct Selling Industry, Mr. MacMillan held other senior executive positions with Bell Canada Inc. and ACC Telecom