Net income more than doubled in 1996 to $44,791,000, or $1.38 per share, from $19,728,000; or $0.65 per share, in 1995. Net sales for the year rose 29 percent to $631,935,000, over $489,004,000 in 1995, while retail sales advanced to a record $1,200,144,000, compared with $923,644,000 in the prior year.
Major factors contributing to the company's full-year results include retail sales in the Asia/Pacific Rim region, principally Japan, of $378,785,000 in 1996 vs. $143,494,000 in 1995, an increase of 164 percent. Sales in Europe in 1996 were $431,347,000, 15 percent increase over 1995 sales of $373,946,000, reflecting strong retail sales in Russia and Poland. The Americas region was down four percent from 1995.
Herbalife International markets weight-management products, nutritional, food and dietary supplements, and personal care products in 34 countries worldwide. Herbalife products are available only through a network of independent distributors and distributor supervisors who purchase the products directly from the company.
[Press release. Business Wire. Feb. 18, 1997.]
Article copyright American Botanical Council.