Originally published at www.seclive.com
Filing in Focus: Herbalife 10-K, February 18, 2014
Herbalife Ltd. (NYSE:HLF) announced its financial results for the fourth quarter and full fiscal year 2013, reporting record results for both the quarter and year. The global nutrition company reported a 20% increase in quarterly net sales to $1.3B, with volume expanding 13% while annual net sales increased 18% to $4.8B. Adjusted quarterly earnings were up from $112.2M and $1.00 earnings per share to $137.2M and $1.28 per share. Adjusted earnings for the year were up significantly from $464.0M and $3.94 per share to $577.4M and $5.37 per share. Herbalife sales and volumes increases most notably in China during fourth quarter, by 39% and 103% respectively, while the Asia Pacific region saw 6% sales growth and a 4% decrease in volume. Chairman and CEO Michael Johnson commented that the company achieved its financial goals through solid execution of its strategy and looks forward to the coming year as it works to help fight the global obesity epidemic.
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