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Record quarterly earnings for Nu Skin Asia Pacific

Nu Skin Asia Pacific Inc. reported record earnings in the first quarter of 1998.

The company on Wednesday announced earnings of $33.7 million, or 39 cents a share, compared to $28.5 million, or 29 cents a share, for the same period in 1997, excluding non-recurring expenses.The non-recurring expense was a $4.5 million distributor stock expense in 1997.

Total revenue for the first quarter was $227.9 million, compared to $224.2 million for the same same period last year.

Those figures included the results of Nu Skin International Inc. and other related affiliates acquired during the first quarter of 1998.

Without figures for Nu Skin International, first quarter earnings totaled $25.6 million, or 30 cents a share.

"We are pleased with our overall performance and particularly encouraged by our continued strong results in Japan, where revenue increased 32 percent for the quarter and we recently became one of Japan's top-10 direct selling companies," said Steven J. Lund, the company's president and chief executive officer.

Nu Skin Asia Pacific is a network marketing company involved in the distribution and sale of personal care and nutrition products.