UPDATE: Herbalife Q4 Earnings Top Estimates, Shares Gain

Shares of

climbed over 1.6% in after-hours trading after the company reported stronger-than-expected earnings for the fourth quarter. The George Town, Cayman Islands-based company posted quarterly net income of $103.3 million, or $1.21 per share, compared to $123.5 million, or $1.15 per share, in the year-ago period. Its adjusted earnings rose to $1.41 per share from $1.28 per share. Its revenue dropped 11% to $1.13 billion. However, analysts were projecting a profit of $1.22 per share on revenue of $1.16 billion. Johnson continued, "Our revised guidance reflects the currency landscape faced by all global companies and the short-term volume impact of the enhancements we are making. We believe we are executing the right long-term strategy and are confident in our ability to create sustainable value for our shareholders and the millions of Herbalife members and their customers worldwide." For the first quarter, Herbalife expects adjusted earnings of $1.30 to $1.40 per share on sales decline of 12.5% to 15.5%. For the year, the company projects adjusted earnings of $5.30 to $5.70 per share on sales decline of 6% to 9%. Herbalife shares gained 1.67% to $35.40 in after-hours trading.