USANA Health Sciences, Inc. (NYSE:USNA) Q4 2022 Earnings Conference Call February 8, 2023 11:00 AM ET

Company Participants

Andrew Masuda - Investor Relations

Kevin Guest - Chairman and Chief Executive Officer

Jim Brown - President

Doug Hekking - Chief Financial Officer

Brent Neidig - Chief Officer and Managing Director, China

Conference Call Participants

Linda Bolton-Weiser - D.A. Davidson

Susan Anderson - Canaccord Genuity

Ivan Feinseth - Tigress Financial Partners

Operator

Good day and welcome to today’s USANA Health Sciences Fourth Quarter Earnings Conference Call. This meeting is being recorded. At this time, I’d like to hand the call over to Andrew Masuda. Please go ahead, sir.

Andrew Masuda

Thank you and good morning, everyone. We appreciate you joining us to review our fourth quarter and year end results. Today’s conference call is being broadcast live via webcast and can be accessed directly from our website at ir.usana.com. Shortly following the call, a replay will be available on our website.

As a reminder, during the course of this conference call, management will make forward-looking statements regarding future events or the future financial performance of our company. Those statements involve risks and uncertainties that could cause actual results to differ perhaps materially from the results projected in such forward-looking statements. Examples of these statements include those regarding our strategies and outlook for fiscal year 2023 as well as uncertainty related to the impact of the COVID-19 pandemic to our business, operations and financial results. We caution you that these statements should be considered in conjunction with disclosures, including specific risk factors and financial data contained in our most recent filings with the SEC.

I am joined by our CEO and Chairman of the Board, Kevin Guest; our President, Jim Brown; our Chief Financial Officer, Doug Hekking as well as other executives. Yesterday, after the market closed, we announced our fourth quarter and fiscal 2022 results and posted our management commentary document on the company’s website.

We will now hear brief remarks from Kevin and Jim before opening the call for questions.

Kevin Guest

Thank you, Andrew and good morning everyone. We appreciate you joining us. USANA reported fourth quarter and fiscal 2022 results that were largely in line with our preliminary results announced on January 5. Fiscal 2022 presented a challenging operating environment for USANA. As with many companies, global inflationary pressure continued to negatively impact our materials and supply chain costs as well as our consumers’ purchasing behavior across several key markets.