Oct. 30, 2018 –
Dawn Zier, President and CEO, stated, “I’m pleased we delivered year-over-year growth in the third quarter and adjusted EBITDA and earnings per share are aligned with expectations. South Beach growth remains strong and, most importantly, we see a clear path to return the Nutrisystem brand to growth in 2019.”
Ms. Zier added, “During the second half of the year we’re focused on positioning our company for a return to meaningful growth in 2019. We’re doing this in three primary ways and have arrived at the proof points that give us confidence that our plans will deliver that. First, our innovation efforts are centered around personalized nutrition and flexibility to better engage with consumers both at the start and throughout their journey to optimal health. Second, our new creative for 2019 supports our evolving brand promise, resonates well with consumers, and we’re seeing early evidence that our creative approach will drive response and engagement. And finally, we’re actively refining our media deployment strategy to expand reach, grow digital, and increase marketing efficiency. We’re excited about our future.”
Third Quarter 2018 Compared to Third Quarter 2017
Revenue was $159.3 million compared to $158.1 million.
Gross margin was 52.3% compared to 54.2%.
Net income was $16.0 million compared to $15.0 million.
Diluted income per common share was $0.54 compared to $0.49
The firm’s strong balance sheet has allowed it to repurchase $26.3 million of stock in the first nine months of this year, and as of September 30, 2018, it had approximately $92.6 million in cash and cash equivalents and short-term investments, and no long-term debt. The Board of Directors has authorized a new $75 million buyback program set to expire October 2020.
4th quarter revenue is expected to be in the range of $129.5 to $134.5 million, net income between $17.3 and $18.9 million, diluted income per common share between $0.58 and $0.63.
Full year 2018 revenue is expected to be in the range of $691 to $696 million, net income between $62.2 and $63.8 million, diluted income per common share between $2.08 and $2.13,
The complete press Release, with financial tables, can be found here: