Thanks for coming. Reads news release. Says China still investigating, NUS still investigating, not gonna say anything new because of those investigations. Delaying 10K to 3/18 due to investigations. No questions - see ya next quarter. About 15 mins start to end. WOW.
The company may have delayed the call expecting a good probability of a resolution occurring. Once this did not occur then they perhaps went ahead even though there was not a lot new to report.
Either way there is not a lot to be investigated. A north american type mlm system was never allowed, and was never used by any of the direct marketers in China. To sell for a direct marketer in China one has to be hired on an employee basis first, and then earn commissions according to regulations allowed in China, with NUS following the same procedure as all the others. So if regulations are adjusted it will affect all equally not just NUS. There seem to be many people who imagine that NUS was using a system same as they would in the US, and people writing comments based on what they imagine, not upon reality.
The call was a disappointment and NUS unwisely neglected to prepare the market. Expectations had been building that China was going to crack down with stiff regulations but that investors would get news today about how NUS could move forward in that nation. Rather, the company disclosed underwhelming news and admitted increased uncertainty not only for the near term but that the uncertainty is in the "early stages."