July 29, 2014: NutriSystem reported its results for Q2 2014 today.
- Revenue for the quarter was $111.1 million, an increase of 14% as compared to $97.5 million in the second quarter of 2013;
- Gross profit increased 14% versus prior year to $56.9 million.
Dawn Zier, President and CEO, said, "We are pleased with our strong performance in the second quarter of fiscal 2014, as we exceeded our earnings per share and adjusted EBITDA expectations. Our continued efforts around our four-point plan have enabled us to deliver our third consecutive quarter of year-over-year double-digit revenue increases fueled by our growing direct and retail channels."
Ms. Zier added, "We continue to enhance our brand with leading product and program innovations that add to the customer experience. In addition to a double-digit increase in new customer growth, we are making progress on our e-commerce, pricing and retail initiatives. Looking ahead, we remain focused on the successful execution of our strategic initiatives and expanding the breadth of our brand."
For the third quarter of 2014, the company expects revenue to be in the range of $85.0 million to $90.0 million.
For the full year of 2014, the company is updating its revenue guidance from a previous range of $392.0 million to $407.0 million to now be in the range of $397.0 million to $407.0 million. The company is increasing its annual adjusted EBITDA from a previous range of $40 million to $44 million to be in the range of $41 million to $44.2 million.