USANA Health Sciences, Inc. (NYSE:USNA) Q4 2023 Results Conference Call February 7, 2024 11:00 AM ET

Company Participants

Andrew Masuda - Investor Relations

Jim Brown - President and Chief Executive Officer

Doug Hekking - Chief Financial Officer

Brent Neidig - Chief Commercial Officer

Walter Noot - Chief Operating Officer

Conference Call Participants

Anthony Lebiedzinski - Sidoti & Company

Linda Bolton-Weiser - D.A. Davidson

Susan Anderson - Canaccord Genuity

Ivan Feinseth - Tigress Financial Partners

Doug Lane - Water Tower Research

Operator

Hello, and welcome to USANA Health Sciences Fourth Quarter and Fiscal Year 2023 Earnings Call. My name is Melissa, and I will be your coordinator for today’s event. Please note, this conference is being recorded. [Operator Instructions] I’ll now turn the call over to Andrew Masuda. Please go ahead.

Andrew Masuda

Thank you, Melissa, and good morning, everyone. We appreciate you joining us to review our fourth quarter and fiscal year 2023 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 2024. As well as uncertainty related to the economic and operating environment around the world, our 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'm joined by our President and CEO, 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 year results and posted our management commentary document to the company's website. We'll now hear brief remarks from Jim before opening the call for questions.

Jim Brown

Thank you, Andrew, and good morning, everyone. USANA delivered fourth quarter operating results that exceeded our expectations as our sales force responded positively to an incentive offering in several of our key markets. Notably, our Greater China region delivered double-digit sequential growth in active customers. We are pleased with our year-end results and the adoption of this incentive, particularly because the operating environment in many of our markets in 2023 was challenging as inflation and other economic factors adversely impacted consumer behavior and our ability to generate top line momentum.