Business Insider source |
The multi-level marketing firm reported $1.05 EPS on sales of $1.1 billion.
On average, analysts polled by Bloomberg expected the multi-level marketing firm to post an adjusted EPS of $1.03 on sales of $1.049 billion.
Herbalife has become one of the most controversial stocks.
The company said he used misleading and inaccurate information in his massive 342-slide presentation.
The company also released its 10K filed yesterday and a short-seller (a.k.a. Bill Ackman) got a mention in it (emphasis ours).
"In late 2012, a hedge fund manager publicly raised allegations regarding the legality of our network marketing program and announced that his fund had taken a significant short position regarding our common shares, leading to intense public scrutiny and significant stock price volatility. Following this public announcement in December 2012, our stock price dropped from $42.50 on December 18, 2012, to prices as low as $24.24 in the following week. Our stock price has continued to exhibit heightened volatility....
Herbalife's management also said that it has contacted the SEC after Ackman's presentation, the 10K shows.
"From time to time, we receive inquiries from various government authorities requesting information from the Company. Following December 2012 market events and a subsequent meeting we requested with the staff of the SEC’s Division of Enforcement, the staff requested information regarding the Company’s business and financial operations. Consistent with its policies, the Company is and will fully corporate with these inquiries."
We've included highlights from the call below.