USANA Profits Fall After Arbitration Award
Usana Health Sciences on Monday reported a significant drop in profits for 2008 because of a previously reported $7 million arbitration award against it and fluctuations in foreign currencies.
Usana shares dropped 7.7 percent to finish at $20.08 after it projected an increase of earnings per share of about 4 percent for 2009 and said its net would be "dramatically reduced" by currency changes.
The direct marketer of nutritional supplements and beauty products reported net earnings in 2008 of about $30 million, compared with $45 million in 2007. For the fourth quarter, net earnings were $4.4 million, compared with $10.9 million in 2007.
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