Usana Sugarcoats Its Weak Results And Downplays A Huge Buyback Authorization
- Q1 results reveal flat distributors growth over Q4, the state of associate confidence and heightened regulatory scrutiny.
- Lower guidance, weaker margins coupled with higher diluted shares does not bode well for shareholder value.
- Usana authorized share repurchases from $13M to a whopping $200M (about 20% of market cap.) Could the Chairman be preparing a selloff or an exit with his 47.3% ownership?