USANA Health Sciences, Inc.
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February 8, 2022
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Fiscal year 2021 net sales grew 5% to $1.186 billion.
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Reported fiscal year 2021 diluted EPS totaled $5.73.
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Fourth quarter net sales reached $267 million and diluted EPS were $1.03.
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Company provides initial 2022 net sales guidance of $1.125 to $1.225 billion and initial diluted EPS guidance of $5.25 to $6.00.
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Consolidated Results
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Net Sales
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$1.186 billion
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•+5% vs prior year
•+$53.6 million YOY FX impact, or +5%
•FY 2020 additional week of sales contributed approximately $18 million to prior year results
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Diluted EPS
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$5.73
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•-2% vs prior year
•20.3 million diluted shares, -4% vs prior year
•FY 2020 additional week of sales contributed an estimated $0.17 to prior year results
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Active Customers
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560,000
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•-7% vs. prior year
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Consolidated Results
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Net Sales
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$267.3 million
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•-14% vs. prior-year quarter
•+$1.9 million YOY FX impact, or +1%
•Q4 2020 additional week of sales contributed approximately $18 million to prior year results
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Diluted EPS
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$1.03
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•-45% vs. prior-year quarter
•Diluted shares of 19.7 million, -7%
•Q4 2020 additional week of sales contributed an estimated $0.17 per share to prior year results
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Asia Pacific Region
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Net Sales
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$212.1 million
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•-15% vs. prior-year quarter
•79% of consolidated net sales
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Active Customers
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428,000
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•-6% vs. prior-year quarter
•-3% sequentially
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Asia Pacific Sub-Regions
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Greater China
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Net Sales
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$125.8 million
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•-10% vs. prior-year quarter
•Constant currency net sales: -13%
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Active Customers
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255,000
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•+1% vs. prior-year quarter
•+4% sequentially
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North Asia
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Net Sales
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$29.2 million
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•-11% vs. prior-year quarter
•Constant currency net sales: -6%
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Active Customers
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58,000
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•-3% vs. prior-year quarter
•-8% sequentially
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Southeast Asia Pacific
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Net Sales
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$57.0 million
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•-26% vs. prior-year quarter
•No meaningful FX impact
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Active Customers
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115,000
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•-19% vs. prior-year quarter
•-14% sequentially
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Americas and Europe Region
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Net Sales
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$55.2 million
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•-11% vs. prior-year quarter
•No meaningful FX impact
•21% of consolidated net sales
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Active Customers
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132,000
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•-9% vs. prior-year quarter
•-1% sequentially
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Fiscal Year 2022 Outlook
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Range
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Consolidated Net Sales
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$1.125 - $1.225 billion
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Diluted EPS
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$5.25 - $6.00
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An unfavorable currency exchange rate impact on net sales of approximately $16 million;
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An estimated operating margin between 13.5% and 14.1%;
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An annual effective tax rate of 32.5%; and
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An annualized diluted share count of 19.6 million.
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Conversion rates: In 2021 we focused on improving the customer shopping experience and our internal data indicates that shopping cart conversion rates have improved
meaningfully. This year we will focus on the next step of improving the checkout process. We plan to launch this in select markets and roll out into additional markets throughout 2022.
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Onboarding programs and training tools: We plan to rollout a new education and communication onboarding program for our new Associates in Q2 2022. This program will
offer product education and utilize our key online and app-based digital tools that we introduced last year. The combination of these learning tools is intended to improve the onboarding process and experience for new Associates through
additional communication, notifications and orientation, which we believe will help drive more efficient customer acquisition.
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Our research collaboration agreement with Beijing University of Chinese Medicine is off to a great start and we have several research projects that have been approved
and are underway.
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We have strengthened our leadership team in this market by adding several experienced professionals.
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Our first branch office redesign is on track to be completed this year. We believe the newly enhanced branch experience will drive increased customer activity and
retention.
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Continuing our digital transformation roadmap: We will continue to make several digital investments aimed at improving the overall customer experience. These investments
include: (i) improving the speed and efficiency of the onboarding process through automation, (ii) enhance notifications within the shopping app which will help drive increased retention, (iii) simplify the shopping experience, (vi) adding
features and functionality to existing apps that will help improve overall efficiency and stimulate growth.
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Enhancing our Associate-focused marketing content: We plan to leverage new product training videos, testimonials and business trainings from our new media studio. We
believe this will help with new customer acquisition while also improving longevity.
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Build upon recent collaborations and partnerships. We recently renewed our partnership with the National Sports Training Bureau and we are looking for additional
partnerships to promote our new Active Nutrition line. We also continue to work closely with Beijing University of Chinese Medicine and we hope to have meaningful results from many of these projects and hope to start commercializing products
as soon as possible.
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Investor contact:
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Patrique Richards
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Investor Relations
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(801) 954-7823
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investor.relations@usanainc.com
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Media contact:
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Dan Macuga
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Public Relations
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801-954-7280
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