May 02, 2011
Financial News, May 2011
Primerica Inc. (PRI-NYSE), the largest independent financial services marketing company in North America, celebrated its first anniversary as a publicly traded company. One year ago, company executives and representatives marked this milestone by ringing the bell on the New York Stock Exchange. And while Primerica is only one year old as a public entity, the company, founded in 1977, has a proud 34-year heritage of commitment and unique market position as a “Main Street company delivering financial products to Main Street families” across North America.
Primerica, a leading distributor of financial products to middle-income households in North America, has 2,000 employees at its corporate offices in Duluth, Ga., and 95,000 licensed representatives. The company and its representatives offer clients term life insurance, mutual funds, variable annuities and other financial products. Primerica has achieved:
- No. 1 ranking in term life insurance premiums (2009)
- $656.8 billion in life insurance protection in force—among the industry leaders
- $74.4 billion in face amount life insurance issued in 2010
- An average of more than $2.6 million paid in life benefit claims each day in 2010
- $34.9 billion in client account values in investments and savings
- 3.5 million client IRAs since 2000
Relìv International Inc.
Relìv International Inc. (RELV-Nasdaq) announced that its Board of Directors has approved a $1 million corporate share repurchase program.
The program authorizes Relìv to purchase up to $1 million of its shares at the market price on the open market or in block trades over the next 24 months. The number of shares to be repurchased and the timing of purchases will be at the discretion of the company’s management, and will be subject to restrictions related to volume, price and timing. Relìv intends to fund the share repurchase program with its available cash balances.
Relìv International Inc., based in Chesterfield, Mo., is a developer, manufacturer and marketer of a proprietary line of nutritional supplements. Relìv sells its products through an international network marketing system of approximately 64,000 independent distributors.
Medifast (Take Shape for Life)
Medifast (MED-NYSE) announced that its quarterly profit grew to $3.4 million, or 23 cents per share, for the period that ended Dec. 31, 2010. That’s compared with $2.4 million, or 17 cents per share, a year earlier. Its revenue rose 33 percent to $63 million from $47.3 million.
Take Shape for Life direct sales revenue rose 38 percent to $42 million, and direct-response revenue grew 27 percent to $14.4 million. Sales at Medifast Weight Control Centers open at least a year rose 16 percent.
Medifast is an easy-to-use, clinically proven portion-controlled weight-loss program. The company sells its products and programs via four unique distribution channels: the Web and national call centers, the Take Shape for Life direct selling division, a national network of physicians and medically supervised Medifast Weight Control Centers.
Nu Skin Enterprises Inc.
Nu Skin Enterprises Inc. (NUS-NYSE) announced that it expects to exceed previous company guidance by posting first-quarter revenue of approximately $395 million, a 9 percent improvement over the prior-year period. Revenue is expected to benefit approximately 5 percent due to foreign currency fluctuations. The company also projects first-quarter earnings of 52 cents to 54 cents when excluding non-cash charges of approximately $33 million related to the recent judgment rendered in a dispute with Japan Customs. When including these charges, first-quarter earnings are expected to be 19 cents to 21 cents per share.
Nu Skin Enterprises Inc. is a global direct selling company operating in 50 markets worldwide with a salesforce of more than 785,000. The company markets premium-quality personal-care products under the Nu Skin® brand, science-based nutritional supplements under the Pharmanex® brand and technology-based products and services under the Big Planet® brand.
Direct Selling News has accumulated this information from public sources, including press releases and SEC filings. The information is presumed accurate and reliable. However, it is not an endorsement of any investment opportunity. Proper and considerable due diligence should be completed before making any investment.