Nu Skin Enterprises Cuts Outlook, Stock Tanks

(RTTNews) - Shares of Nu Skin Enterprises Inc. (NUS) plunged 14 percent in after-hours trading on Tuesday after the company lowered its revenue outlook for the third quarter hurt largely due to weak sales in China and foreign currency headwinds.

Provo, Utah-based Nu Skin expects third-quarter revenue of $570 million to $573 million, down from prior outlook of as much as $620 million. Analysts currently estimate earnings of $621.55 million for the quarter.

CEO Truman Hunt "Third-quarter results were impacted by lower-than-expected sales of our new cosmetic oils in China during August and September, which may be a reflection of economic conditions in China."

Foreign currency headwinds associated with the strengthening of the U.S. dollar negatively impacted revenue by more than $60 million compared to the prior-year period, the company said.

NUS closed Tuesday's trading at $46.57, up $0.72 or 1.57%, on the NYSE. The stock, however, dropped $6.57 or 14.11% in the after-hours trading.