A Bad Prescription From USANA
USANA Health Sciences’ (Nasdaq: USNA) products help people lose weight, but the company had a loss of its own on Friday. After USANA lowered its revenue and earnings per share guidance for the year, investors gave its shares an unhealthy 21% discount.Reports emerged last year accusing USANA of being a pyramid scheme, prompting the SEC to announce a informal inquiry (now closed) into the company. Since then, shares of the health-care vitamin and supplement maker have fallen sharply. The latest drop followed Friday’s news of significant cuts in revenue and earnings projections for 2008.
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