USANA Health Sciences, Inc. (NYSE:USNA) has marked its 10th anniversary in Malaysia with the opening of a new state of the art facility. The facility will act as the company’s new offices expected to drive the next phase of growth and success.
Growth In Asia Pacific
Since expanding in Malaysia in 2007, USANA has registered impressive success and growth.
“The new office is an amazing space that should allow the team in Malaysia to grow and as we continue to focus on improving the health and nutrition of individuals and families in this beautiful market, “ said Chief operating officer Jim Brown.
Sales from the South Asia Pacific region have registered double-digit growth since 2016 with the Malaysia, Australia, Singapore, and New Zealand markets driving growth. Net sales in the pacific region in the first quarter was up by 10.6% to highs of $195.1 million having taken a hit of $5.7 million from a strong dollar. Total number of direct customers in the region was also up by 12.2% in the quarter.
USANA may have to carry out aggressive marketing campaigns in America and Europe as sales in the region were down by 5.9% in the quarter to $60.2 million. A decline in active customers is a big concern in the two regions. Customer growth in Mexico did little to offset the decline.
Net Sales Up 6.2%
Thanks to growth in USANA core markets net sales in the first quarter was up by 6.2% compared to the same quarter last year to highs of $255.3 million. Sales could have been much higher had the company shrugged off the effects of a strong dollar that it says affected sales by $6.2 million. Earnings also took a hit from additional expenses related to an internal investigation.
Looking ahead the nutritional supplement maker expects its full-year earnings to come in the range of $3.80 and $4.10 a share. Revenues, on the other hand, should come in the range of between $1.04 billion and $1.07 billion.
