July 27, 2017 - According to CEO Dawn Zier:
"Today I'm pleased to report our 16th consecutive quarter of year-over-year revenue growth as our key strategic business levers and competitive advantages continue to build."
"Second quarter year-over-year revenues grew by 30% and earnings per share increased approximately 50%. Our multi-brand strategy is taking hold as initiatives in brand continues to command a largest share over the expanding weight base and as our newest brand the South Beach Diet begins to grow."
"Overall performance far exceeded our second quarter expectations and as a result, we are substantially raising our full-year guidance."
"The momentum from a strong and successful 2017 diet season continued into the second quarter reflecting a heightened awareness and demand for our multi- brand offering. We were able to bring in many new customers and we activate former ones with our monthly program. Additionally, more of our customers are adding ancillary product orders and average spend is on the rise."
Revenue increased 30% to $194.9 million compared to $149.8 million in the same quarter last year. Growth was primarily driven by three factors, acquiring new customers, reactivated customers and improvements in revenue per customer."
Gross margin in the quarter increased 40 basis points to 54.3%. Marketing spend was $44.8 million or 23% of revenue in the second quarter of 2017.
For the full-year of 2017, the firm is now projecting revenues to be in the range of $684 million to $694 million. NTRI is increasing its revenue guidance for the South Beach Diet to approximately $26 million from its original estimate of $20 million to $25 million. The firm delivered over $46 million of reactivation revenue in the second quarter of 2017, up over 27% from a year ago.
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