What happened

Shares of Nu Skin Enterprises (NYSE:NUS) were dropping on Friday as the beauty-products company turned in another disappointing earnings report. As of 10:59 a.m. EST, the stock was down 11.8%.

So what

Revenue at Nu Skin fell 7.1% to $531.3 million, short of the $553.2 million estimate, while adjusted earnings per share improved from $0.62 to $0.79, but that also missed estimates by a penny. CEO Truman Hunt said revenue declined in part due to $50 million in revenue from a product launch in the year ago quarter, and also said it was affected by $7 million in deferred revenue due to orders outstripping supply for a new product.

A family sits on a dock looking out over the water.

Image source: Nu Skin Enterprises.

While the company seems to have put the earlier Chinese pyramid-selling scandal behind it, revenue growth continues to be elusive as it fell 2% over 2016.

Now what

Looking to 2017, the company said it expected constant-currency revenue growth of 4% to 6%. On the bottom line, the company maintained its EPS guidance at $3.10 to $3.25, which factors in 3% to 4% of negative foreign currency impact. That compares with analyst expectations of $3.17 in EPS for the current year and revenue growth of 2.7%, which does not adjust for revenue.

Based on Nu Skin's current P/E valuation of about 16, the stock looks reasonable after Friday's sell-off. I wouldn't change my investing thesis based on Friday's news.