Medifast To Spend $20 Million in Advertising

Forbes:

Medifast Inc., a maker of a portion-controlled weight loss program, on Wednesday said it will spend $20 million on advertising in 2007 and offered yearly guidance that fell below analyst expectations.

Shares tumbled 74 cents, or 9 percent, to $7.45 during afternoon trading on the New York Stock Exchange. The stock has traded between $6.45 and $21.15 during the past 52 weeks.

The company sees per-share earnings between 45 cents and 46 cents on revenue between $85 million and $88 million for the year.