Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Monday, March 1, 2010 at 2:16 PM

Comments (0)     E-mail E-mail article      Print Print      Share Share

Nutrisystem tightens belt, turns 4Q profit

Nutrisystem Inc. tightened its belt and turned a profit in the fourth quarter despite falling sales.

The Associated Press

HORSHAM, Pa. —

Nutrisystem Inc. tightened its belt and turned a profit in the fourth quarter despite falling sales.

The weight-control company said Monday that the economy made 2009 difficult, but new-customer counts and cost-cutting improved in the second half.

Nutrisystem predicted a "modest" increase in profit in 2010, while analysts had forecast the company's profit - 92 cents per share last year - would just more than 50 percent to $1.52 per share in 2010.

The shares fell 45 cents, or 2.3 percent, to $18.90 in regular trading before the report, then dropped another $1.21, or 6.4 percent, to $17.72 in extended trading.

Nutrisystem said it earned $2.7 million, or 9 cents per share, in the fourth quarter, compared with a loss of $3.3 million, or 11 cents per share, a year earlier.

Without a write-down from the acquisition of Nu-Kitchen, a maker of weight-loss meals, the company said it would have earned 18 cents per share.

Analysts, who typically exclude one-time items from their forecasts, had expected a gain of 13 cents per share, according to Thomson Reuters.

Revenue fell to $106.2 million from $114.6 million, but above analysts' $102.2 million prediction.

For all of 2009, the company earned $28.8 million, or 92 cents per share, compared with $46.3 million, or $1.45 per share, in 2008. Full-year revenue dropped to $527.7 million from $687.7 million.

The company declared a quarterly dividend of 17.5 cents per share payable March 22 to shareholders of March 11.

E-mail E-mail article      Print Print      Share Share

More Business & Technology

UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case

UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip

UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award

UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall

NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

More Business & Technology headlines...

Comments
No comments have been posted to this article.

advertising


Get home delivery today!

Video

Advertising

AP Video

Entertainment | Top Video | World | Offbeat Video | Sci-Tech

Marketplace

Advertising