Herbalife Ltd., seller of weight-management and nutrition products, on Wednesday affirmed its 2009 and 2010 profit outlooks, which both remain below Wall Street consensus expectations.
The company, based in Los Angeles, said it still expects 2009 profit to be in a range of $3.19 to $3.22 and 2010 profit of $3.50 to $3.65. Analysts surveyed by Thomson Reuters expect 2009 profit of $3.23 and 2010 profit of $3.68.
Herbalife CEO Michael O. Johnson also announced the promotion of Chief Financial Officer Rich Goudis to the post of chief operating officer, effective Jan. 1. Goudis has been with the company since 2004.
John DeSimone, who joined the company in 2007, will replace Johnson as CFO.
Herbalife shares fell 16 cents to $41.97 in after-hours trading Wednesday after closing at $42.13, up 16 cents from a day earlier.