Medifast profit soars in second quarter
Medifast earnings rose in the second quarter.
Medifast Inc.’s[5] second-quarter earnings soared more than 150 percent, matching estimates set by Wall Street.
The Owings Mills weight-loss company posted a profit of nearly $7.1 million, or 51 cents per share, in the quarter. That was up from a profit of $2.8 million, or 20 cents per share, in the year-ago period. Excluding a Federal Trade Commission[6] charge, net income in the second quarter of last year would have been $6.5 million, or $0.47 per share.
Revenue increased 4 percent to $97.1 milluon, up from $93.6 million.
Analysts polled by Thomson Reuters had projected earnings of 51 cents per share on revenue of $101.3 million.
Medifast (NYSE: MED) said revenue through Take Shape for Life, the company’s direct sales channel, increased 10 percent in the quartr to $61.4 million.
For the full 2013 year, the company narrowed revenue guidance to $375 million to $385 million and maintains its earnings per share outlook of $1.70 to $1.80.
References
- ^ Ryan Sharrow (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Twitter (twitter.com)
- ^ Google+ (plus.google.com)
- ^ Medifast Inc.’s (www.bizjournals.com)
- ^ Federal Trade Commission (www.bizjournals.com)