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Nature’s Sunshine Reports $368 million in Net Sales for 2011

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For the Fourth Quarter of 2011:
Net sales were $92.1 million, compared with $89.9 million in the same quarter a year ago, an increase of 2.4 percent.
Operating income from continuing operations was $9.6 million, compared with $3.5 million in the same quarter a year ago, an increase of 170.8 percent.
Adjusted EBITDA, defined here as net income before taxes, depreciation and amortization, other income adjusted to exclude share-based compensation expense, was $12.3 million, compared with $4.7 million in the same quarter a year ago, an increase of 163.9 percent.
Net income from continuing operations was $7.6 million, compared with a net loss of $0.4 million in the same quarter a year ago.
Basic and diluted net income per share from continuing operations was $0.49 and $0.48, respectively, compared with a net loss per share of $0.02 and $0.02, respectively, for the same quarter a year ago.
As of December 31, 2011, shareholders’ equity was $87.4 million, compared to $68.4 million on December 31, 2010, an increase of 27.9 percent.
As of December 31, 2011, active Managers worldwide were 27,800, a decrease of 1.1 percent from the end of the prior quarter, while active Distributors and customers worldwide were 668,400, a decrease of 2.0 percent from the end of the prior quarter.

For the Full Year 2011:
Net sales were $367.8 million, compared with $349.9 million in 2010, an increase of 5.1 percent.
Operating income from continuing operations was $20.2 million, compared with $11.3 million in 2010, an increase of 79.0 percent. Excluding contract termination costs of $14.7 million related to our third quarter arbitration settlement with NutriPlus LLC, operating income from continuing operations was $34.9 million in 2011, compared with $11.3 million in 2010, an increase of 210.0 percent.
Adjusted EBITDA, defined here as net income before taxes, depreciation and amortization, other income adjusted to exclude share-based compensation expense and contract termination costs, was $42.8 million, compared with $16.0 million in 2010, an increase of 168.0 percent.
Net income from continuing operations was $17.6 million, compared with $8.5 million in 2010, an increase of 107.8 percent. Excluding the contract termination costs described above, net income from continuing operations was $27.6 million, compared with $8.5 million in 2010, an increase of 225.9 percent.
Basic and diluted net income per share from continuing operations was $1.13 and $1.12, respectively, compared with earnings per share of $0.55 and $0.54, respectively, in 2010.
NSP United States Results for the Fourth Quarter:
Net sales were $33.2 million, compared with $34.1 million in the same quarter a year ago, a decrease of 2.8 percent. NSP United States Managers and Distributors are predominantly practitioners of nutritional supplement therapies and retailers or consumers of our products, who continue to be adversely affected by the economic downturn. Net sales revenues also decreased due to changes to some of our less profitable promotional programs.
Operating income was $2.5 million, compared with $1.3 million in the same quarter a year ago, an increase of 97.1 percent. The improvement despite lower sales in 2011 was due to the cancellation in 2011 of some less profitable promotional programs and severance costs incurred in 2010 in connection with employee reductions in that year.
NSP International Results for the Fourth Quarter:

About Nature’s Sunshine Products
Nature’s Sunshine Products (NASDAQ:NATR), a leading natural health and wellness company, markets and distributes nutritional and personal care products through a global direct sales force of over 600,000 independent distributors in more than 40 countries. Nature’s Sunshine manufactures its products through its own state-of-the-art facilities to ensure its products continue to set the standard for the highest quality, safety and efficacy on the market today. The Company has two reportable business segments that operate under the Nature’s Sunshine Products brand and are divided based on their geographic operations in the United States (NSP United States) and in countries outside the United States (NSP International), as well as a third reportable business segment operates under the Synergy Worldwide brand. The Company also supports health and wellness for children around the world through its partnership with the Little Heroes Foundation. Additional information about the Company can be obtained at its website, www.natr.com.

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