Medifast, Inc. (NYSE: MED), a leading manufacturer and distributor of clinically proven, healthy living products and programs, today reported financial results for the fourth quarter and full year ended December 31, 2018.
Fourth Quarter 2018 Highlights:
- Revenue of $145.8 million, an increase of 87.0% year-over-year
- Active earning Optavia Coaches of 24,100, an increase of 60.7% year-over-year
- Net income of $15.7 million, an increase of 114.2% year-over-year
- Earnings per diluted share (“EPS”) of $1.30, an increase of 116.7% year-over-year
Full Year 2018 Highlights:
- Revenue of $501.0 million, an increase of 66.1% year-over-year
- Net income of $55.8 million, an increase of 101.3% year-over-year
- EPS of $4.62, an increase of 101.7% year-over-year
- Cash, cash equivalents, and investment securities of $101.0 million and debt-free
- Returned $23.2 million to stockholders through payment of quarterly cash dividend
- Repurchased $30 million of the Company’s common stock
“We are very pleased with our strong finish to 2018,”
commented Dan Chard, Medifast’s Chief Executive Officer.
“We reached a significant corporate milestone generating over $500 million in annual revenue and profitability exceeded our expectations.
Importantly, we achieved these results while accelerating the level of strategic investment to support our long-term growth plans to build our brand platform and operations as we continue to improve the scalability of our business.
As we move forward with our strategic initiatives, both domestically and internationally, we believe we remain well positioned to deliver long-term sustainable growth and value for our shareholders as well as meaningful improvements to the lives of OPTAVIA clients across the country as they learn new healthy habits that make their lives better.”
Medifast (NYSE: MED) is a leading manufacturer and distributor of clinically proven, healthy living products and programs. The brand has been recommended by more than 20,000 doctors since its founding. Its integrated coach model leverages nearly 40 years of experience from medical, franchise, e-commerce, and direct selling channels.
Medifast and its community of independent OPTAVIA Coaches embrace the future of wellness with a shared vision to offer the world lifelong transformation, one healthy habit at a time™.
OPTAVIA® is represented by a community of OPTAVIA Coaches who teach Clients healthy habits, while offering support and guidance on their transformation journey. In 2018, Medifast announced it will expand into the Asia-Pacific markets of Hong Kong and Singapore in 2019 with its integrated coach model. Medifast is traded on the New York Stock Exchange and was named to Forbes’ 100 Most Trustworthy Companies in America List in 2016 and 2017.
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