Salt Lake-based Usana Health Science Inc. reported net income of $601,000, or 6 cents per share, for the quarter ended Dec. 30. That compares with net income of $2.27 million, or 22 cents per share, for the same period a year earlier.
The earnings-per-share figure matched the consensus expectation of Wall Street analysts.
For the year, the company had net income of $2.86 million, or 29 cents per share, down from net income of $5.9 million, or 47 cents per share, in the prior year.
Net sales for the quarter were $28.3 million, down 14.9 percent from the $33.2 million in net sales reported for the fourth quarter of 1999. Net sales for the year was $117.8 million, down 8.9 percent from the prior-year level of $129.4 million. The company said the decrease was largely due to a plan that dropped the average price 24 percent across all product lines.
The company also dealt with a soft Australian market, according to Gilbert A. Fuller, chief financial officer.
Usana develops and manufactures nutritional, personal-care and weight-management products that are sold directly throughout the United States, Canada, Australia, New Zealand, the United Kingdom, Hong Kong and Japan.