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USANA lowers guidance

This article was originally published in The Tan Sheet

Executive Summary

The direct-seller of nutritional, personal care and weight management products projects 2009 net sales of $390 million to $400 million, a 7 to 9 percent decrease from its 2008 revenues. USANA Health Sciences in February projected a 6 to 8 percent reduction in net sales for the year, accounting for foreign exchange losses. In its 2009 first quarter, the Salt Lake City-based company said April 28 it saw global net sales fall 4.2 percent to $97.3 million and North American revenues dropped 10.2 percent to $55.9 million. Though the firm pinned its declines largely on the negative impact of currency changes, net sales in North America were off by 2.2 percent excluding currency exchange for the three months ended April 4. CEO Dave Wentz expects the firm's associate ranks to grow and noted that the number of active North American associates grew slightly, 2.1 percent, over the year-ago quarter to 97,000

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