Nu Skin results
Nu Skin produced bad results - with sales declining in pretty well every region. These are the sales from the third quarter.
20142013Revenue:Greater China$226,744$449,558North Asia205,488202,390South Asia/Pacific88,915126,972Americas76,73784,813EMEA40,91644,566
Herbalife was punished by the market after a miss which involved positive but falling sales growth rate.
This is far worse.
But that is not what my complaint is about.
The company published its results WITHOUT a cash flow statement.
Call me old-fashioned but I like cash flow statements.
If you try to reconstruct it there is yet another quarter where cash generation does not reconcile with profits.
Also they drew a revolver after quarter end despite having almost $200 million of cash on the balance sheet and not obviously needing any more than the non-revolving part of the credit agreement.
I have no idea why.
John
Disclaimer: Short Nu Skin, unfortunately (yesterday) long Herbalife.