Medifast Bid Lower on Q4 Results
Shares of Medifast (NYSE: MED) are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are bid $15.16, at $15.44; they ended the regular session higher by 4.31%, at $16.70.
Medifast reported Q4 EPS of $0.08 on revenues of $69.6 million. Revenues increased 10% year over year.
Gross profit for the fourth quarter of 2011 increased 12% to $52.3 million, compared to $46.8 million in the fourth quarter of the prior year. The company's gross profit margin increased 100 basis points to 75.2% in the fourth quarter versus 74.2% in the fourth quarter of 2010.
"We ended the year with a renewed strategic focus on driving operational excellence throughout our Take Shape for Life, Medifast Direct, Medifast Weight Control Center and Wholesale Physicians sales channels, and our internal support divisions to better position our business for maximum profitability long-term," stated Michael C. MacDonald, Chairman and Chief Executive Officer.
"Going forward, our executive team is continuing to review and enhance our overall cost structure to further leverage our sales momentum, improve our margins and deliver improved earnings results, while continuing to focus on enhancing the customer experience in each of our sales channels."
Medifast, Inc. is engaged in the production, distribution, and sale of weight management and disease management products and other consumable health and diet products.
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