Nu Skin misses Q3 sales views, pins it on China weakness

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Shares of Nu Skin Enterprises Inc. fell more than 7% in the extended session Tuesday after the maker of supplements and personal care products reported third-quarter earnings above expectations but sales missed the mark. Nu Skin earned $44 million, or 79 cents a share, in the quarter, compared with $53 million, or 94 cents a share, in the year-ago quarter. Revenue fell 13% to $590 million in the quarter, from $675 million a year ago, including a 23% drop in mainland China. Analysts polled by FactSet had expected GAAP profit of 76 cents a share on sales of $606 million. “Revenue came in slightly below expectation, primarily due to the challenging regulatory environment in mainland China, where meeting restrictions continued throughout the quarter,” Nu Skin Chief Executive Ritch Wood said in a statement. Shares of Nu Skin had ended the regular trading day down 0.7%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.