Nutrisystem Raises Full Year Guidance; Announces $50 Mln Share Buyback Program

(RTTNews) - Nutrisystem, Inc. (NTRI) announced its full year 2016 revenue is now expected to be in the range of $517 to $532 million compared to previous range of $505 to $525 million. Nutrisystem's adjusted income per common share is expected to be $1.17 to $1.27 compared to previous range of $1.09 to $1.19, which excludes the expected impact of the South Beach Diet and Shake360 initiatives. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.99 on revenue of $514.04 million. Analysts' estimates typically exclude special items.

The company's Board has authorized a share repurchase program, whereby the company may repurchase up to $50 million of its common stock over the next 18 months in open market transactions. The Board declared a quarterly dividend of $0.175 per share, payable May 23, 2016 to stockholders of record as of May 13, 2016.

Shares of Nutrisystem, Inc. were up more than 16% after hours.