HERBALIFE PROFITS EXPLODE IN THIRD QUARTER; 1991 PROFITS EXCEED $2.9 MILLION
HERBALIFE PROFITS EXPLODE IN THIRD QUARTER;
1991 PROFITS EXCEED $2.9 MILLION
LOS ANGELES, Nov. 14 /PRNewswire/ -- Herbalife International of America (NASDAQ: HERB) reported today, that its trend of increased sales and increased profits continued in the third quarter of 1991.
Herbalife, with operations in 11 countries was pleased to announce that net income for the third quarter ending Sept. 30, 1991 was $2,966,000, or $.12 per share on total sales before distributor allowances of $52,774,000, compared to a loss of $466,000 on sales of $33,989,000 for the same period of last year. Earnings per share for the nine months ending Sept. 30, 1991 have increased to $.20 per share. Additionally, the company's working capital significantly improved by $5.4 million to approximately $2.3 million for the nine months ending Sept. 30, 1991. Earlier this year the company introduced the Cellular Nutrition Program to its distributors. This has been a tremendous success and coupled with the enhanced marketing plan announced earlier this year, sales have increased 55 percent from the third quarter of 1990 to the third quarter of 1991.
Finally, due to management's continued innovation of the product line and marketing plan, Herbalife continued to effectively increase its distributor base worldwide. The number of new distributors increased by 63.8 percent for the nine months ended Sept. 30, 1991, as compared to the same period of 1990. Management is very excited about the continued positive results in worldwide operations and indicated that improved earnings were primarily the result of increased sales coupled with managements's continued efforts to effectively control selling, general and administrative expenses.
/CONTACT: Christopher Pair of Herbalife, 213-410-9600, ext. 2622/
(HERB) CO: Herbalife International of America Inc. ST: California IN: SU: ERN EH-SE -- LA004 -- 4219 11/14/91 06:30 EST