Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Key Stock Statistics
Price as of Dec 16, 2011 52-Wk Range Trailing 12-Month EPS Dividend Rate/Share $29.91 $44.3023.10 $3.14 Nil Trailing 12-Month P/E Tangible Book Val/Share $10K Invested 5 Yrs Ago Beta 9.5 $6.23 $5,920 0.82

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.
Source S & P, company reports, Vickers

Yield (%) Total Shares Outstg. (M) Market Capitalization(B) Institutional Ownership (%)

Nil 15.0 $0.447 39

Corporate Information
Investor Contact Telephone Email Company Address R. Timmer (801-954-7100) 801-954-7100. investor.relations@us.usana.com 3838 West Parkway Boulevard, Salt Lake City, UT 84120. http://www.usanahealthsciences.com

Price Performance
30-Week Mov. Avg. 10-Week Mov. Avg. Relative Strength GAAP Earnings vs. Previous Year Up Down No Change Volume Above Avg. Below Avg.

...................................................................................................................................................................

40

...................................................................................................................................................................

30 25 20

Website

Revenue/Earnings Data
Revenue (Million $) 1Q 2011 143.6 2010 119.1 2009 97.30 2008 101.6 2007 102.6 2006 88.23 Earnings Per Share ($) 2011 0.70 2010 0.62 2009 0.43 2008 0.44 2007 0.63 2006 0.50 2Q 148.9 126.0 112.1 109.2 107.5 92.48 3Q 143.5 135.0 110.8 107.2 106.2 93.70 4Q -137.5 116.8 111.1 108.8 99.78 Year -517.6 436.9 429.0 423.2 374.2

Vol. (000) 600 400 200 0 J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F 2953 2772

2008

2009

2010

2011

...................................................................................................................................................................

S&P Financial Writer Mark Schwiebert 0.88 0.69 0.57 0.61 0.68 0.55 0.81 0.79 0.51 0.50 0.70 0.55 -0.75 0.66 0.29 0.67 0.61 -2.86 2.17 1.85 2.67 2.20

Operational Review Dec 15, 2011

Income Statement Analysis & Financial Review Revenues for the nine months ended October 1, 2011 were $436 million vs. $380.1 million in the prior year, moving ahead 15% year over year. The gross margin widened 1%, on higher revenues. Selling, general & administrative expenses were $103 million, as opposed to $87.4 million in 2010, increasing 18%. Operating income was $57.2 million vs. $50.1 million for last year. Income before taxes was $57.4 million vs. $50.4 million, an increase of 14%. Income taxes were $19.8 million against $17.1 million, and for the first three quarters of the fiscal year, net income was $37.6 million ($2.39 a share) vs. $33.3 million ($2.11 a share) in 2010. In the third quarter, revenues were $143.5 million vs. $135 million in the prior year, advancing 6% year to year. The gross margin widened 1%, on higher revenues. Selling, general & administrative expenses were $33.4 million, as opposed to $30.8 million for the same period in 2010, rising 9%. Operating income for the quarter was $18.8 million vs. $18.5 million in the prior-year period. Income before taxes was $18.9 million vs. $19.1 million, decreasing 1%. Income taxes were $6.5 million, against $6.2 million for last year, and net income was $12.4 million ($0.81 a share) vs. $12.8 million ($0.79 a share) in the third quarter of 2010. Key Operating Information The net sales growth during the third quarter was driven by higher product sales in the company's Asia Pacific region. In addition, favorable currency exchange rates added $5.1 million to the quarter's net sales growth. The decrease in net earnings was due to increased operating expenses partially offset by improved gross profit margins. The increase in earnings per share for the quarter resulted from a decreased number of diluted shares outstanding. Recent Developments On October 25, 2011, USNA said based on its performance during the first three quarters of the year, the company is raising its outlook for 2011. USNA now projects consolidated net sales to be between $577 million and $581 million for the year, versus the previous outlook of $565 million to $575 million. In addition, net earnings per share are expected to be between $3.20 and $3.25 versus the previous outlook of $3.05 to $3.10.

Fiscal year ended Dec. 31. Next earnings report expected: Early February

Dividend Data
No cash dividends have been paid.

All of the views expressed in this research report accurately reflect our quantitative research models regarding any and all of the subject securities or issuers. No part of our compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. This report is for information purposes and should not be considered a solicitation to buy or sell any security. Neither S&P nor any other party guarantees its accuracy or makes warranties regarding results from its usage. S&P receives compensation from the issuer or an agent thereof for initiating coverage, and for distribution including licensed redistribution of this report, and/or for inclusion in other S&P publications, generally in amounts up to U.S. $14,175 per year. Redistribution is prohibited without written permission. Page 1 of 11
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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Business Summary December 15, 2011
USANA Health Sciences, Inc. (USNA) engages in the development and manufacture of science-based nutritional and personal care products with a focus on reducing the risk of chronic degenerative disease and promoting long-term health. The company has operations in 15 markets worldwide where it distributes and sells its products by way of direct selling. USNA's customer base comprises two types of customers: Associates and Preferred Customers. Associates are independent distributors of the company's products, who also purchase the products for personal use. Preferred Customers purchase the products strictly for their personal use and are not permitted to resell or to distribute the products. As of January 1, 2011 (FY 2010), USANA Health Sciences had 228,000 active Associates and 77,000 active Preferred Customers worldwide. In fiscal 2010, 90% of the company's net sales were generated by Associates and 10% by Preferred Customers. In August 2010, USNA indirectly acquired BabyCare, Ltd, a direct selling company organized under the laws of China. BabyCare is principally engaged in developing, manufacturing, and selling nutritional products for the entire family, with an emphasis on infant nutrition. This acquisition added 12,000 Associates and 14,000 Preferred Customers to the total number of active customers at year-end. The acquisition of BabyCare also provides a growth opportunity for USANA in China. The company has two primary product lines: USANA Nutritionals and Sense. In fiscal 2010, the USANA Nutritionals and Sense product lines represented approximately 89% and 8% respectively, of the company's total product sales. Sales from other items, the majority of which include marketing and sales tools developed for use by Associates, accounted for the remaining 3% of total product sales. The USANA Nutritionals product line is further categorized into three separate classifications: Essentials, Optimizers, and USANA Foods (formerly Macro-Optimizers). include two of the company's three top selling products, the USANA Essentials and the HealthPak 100. The USANA Essentials consist of two products: Mega Antioxidant and Chelated Mineral. The HealthPak 100 includes the USANA Essentials and some key Optimizers conveniently packaged in a daily pillow pack form. Optimizers are more targeted supplements designed to meet individual health and nutritional needs. These products support needs such as cardiovascular health, skeletal/structural health, and digestive health, and are intended to be used in conjunction with the Essentials. USNA's third top selling product, Proflavanol, is from this category. Other key products in this category include BiOmega-3, CoQuinone 30, Active Calcium, and Procosa II. BabyCare offers a line of targeted supplements very similar to the Optimizers. USANA Foods product line includes low-glycemic meal replacement shakes, snack bars, and other related products that provide optimal macro-nutrition (complex carbohydrates, complete proteins, and beneficial fats) in great tasting and convenient formats. USANA Foods can be used along with Essentials and Optimizers to provide a complete and healthy diet and sustained energy throughout the day. Also included in this category is the RESET weight-management program. The Sense product line includes premium, science-based, personal care products that support healthy skin and hair by providing advanced topical nourishment, moisturization, and protection. These products are designed to complement inner nutrition for the skin provided by the USANA Nutritionals. Sense products are manufactured with USNA's patented, self-preserving technology, which uses a unique blend of botanicals, antioxidants, and active ingredients to keep products fresh, without adding traditional chemical preservatives.

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

Essentials include core vitamin and mineral supplements that provide a foundation of nutrition for every age group beginning with children 13 months of age, and

Peer Comparison Chart - 1 Year

USANA Health Sciences Amer Oriental Bioengineering Herbalife Ltd 80 60 40 20 0 -20 -40 -60 -80 -100 Dec Jan Feb Mar Apr May 2010 Jun 2011 Jul Aug Sep Oct Nov

Company vs Market Comparison Chart - 1 Year

Company Sector USANA Health Sciences Consumer Staples Index Industry S&P 500 Personal Products

40 20 0 -20 -40 -60 -80 -100 Dec Jan Feb Mar Apr May Jun 2010 2011 Jul Aug Sep Oct Nov

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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Key Growth Rates and Averages
Past Growth Rate (%) Sales Net Income Ratio Analysis (Annual Avg.) Net Margin (%) % LT Debt to Capitalization Return on Equity (%)
1 Year 3 Years 5 Years 9 Years

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

Expanded Ratio Analysis

18.47 36.03 6.43 0.96 8.22 -0.74 17.88 27.42 Price/Sales Price/EBITDA Price/Pretax Income P/E Ratio Avg. Diluted Shares Outstg (M)
Figures based on calendar year-end price

.................................................................................................................................................................................................................................................

8.82 NA 41.59

7.83 NA 63.25

9.07 25.74 72.12

9.48 14.42 69.94

2010 1.34 9.15 10.06 15.17 15.9

2009 1.13 8.51 9.66 14.67 15.4

2008 1.29 8.97 11.95 18.48 16.2

2007 1.51 8.39 8.96 13.89 17.2

Company Financials Fiscal Year Ended Dec. 31

Per Share Data ($) Tangible Book Value Cash Flow Earnings Dividends Payout Ratio Prices:High Prices:Low P/E Ratio:High P/E Ratio:Low Income Statement Analysis (M $) Revenue Operating Income Depreciation Interest Expense Pretax Income Effective Tax Rate Net Income Bal Sheet & Other Financial Data (M $) Cash Current Assets Total Assets Current Liabilities Long Term Debt Common Equity Total Capital Capital Expenditures Cash Flow Current Ratio % Long Term Debt of Capitalization % Net Income of Revenue % Return on Assets % Return on Equity 24.2 80.3 204 57.6 NA 145 145 4.19 53.6 1.4 Nil 8.8 27.9 41.6 13.7 51.9 123 40.5 7.00 74.4 81.4 4.13 40.6 1.3 8.6 7.7 27.3 63.2 13.3 52.7 123 54.5 35.0 31.8 66.8 16.1 36.6 1.0 52.4 7.0 25.9 85.0 12.9 46.0 109 40.2 28.0 38.6 66.6 26.3 51.3 1.2 42.0 10.9 43.9 92.9 27.0 60.6 100 39.8 Nil 60.2 60.2 11.0 46.8 1.5 Nil 11.0 47.5 77.9 15.1 40.8 71.7 22.8 Nil 47.8 47.8 4.31 44.9 1.8 Nil 11.9 53.6 83.3 15.1 40.8 71.7 22.8 Nil 47.8 48.9 6.95 35.6 1.8 Nil 11.3 45.0 66.8 19.0 38.2 65.1 19.9 Nil 44.4 44.4 4.56 24.7 1.9 Nil 10.4 39.9 66.7 6.69 18.9 39.1 17.7 2.65 18.1 21.4 2.97 12.6 1.1 12.3 6.4 22.8 52.1 2.46 14.2 35.4 13.8 6.00 14.5 21.5 6.60 6.32 1.0 27.9 1.9 6.2 16.1 518 75.7 7.92 0.09 68.9 NA 45.7 437 57.9 7.07 0.61 51.0 34.2% 33.6 429 61.7 6.70 1.21 46.3 35.4% 29.9 423 76.0 5.33 1.51 71.2 35.5% 45.9 374 67.9 5.56 0.11 63.8 35.3% 41.3 328 64.3 5.90 0.01 58.9 33.7% 39.0 273 49.7 4.84 Nil 45.1 31.7% 30.8 200 35.0 3.88 0.05 31.3 33.5% 20.8 134 16.9 4.14 0.33 12.6 32.4% 8.50 114 8.32 4.12 0.80 3.51 37.3% 2.20 2010 5.48 3.36 2.86 Nil Nil 45.50 24.34 16 9 2009 4.49 2.63 2.17 Nil Nil 37.19 17.72 17 8 2008 1.70 2.27 1.85 Nil Nil 49.89 18.18 27 10 2007 2.03 2.98 2.67 Nil Nil 61.80 28.51 23 11 2006 3.05 2.50 2.20 Nil Nil 52.84 35.06 24 16 2005 2.30 2.28 1.98 Nil Nil 54.10 32.60 27 16 2004 2.22 1.74 1.51 Nil Nil 36.59 22.89 24 15 2003 2.06 1.16 0.98 Nil Nil 39.49 5.75 40 6 2002 0.99 0.61 0.41 Nil Nil 6.03 0.58 15 1 2001 0.75 0.33 0.12 Nil Nil 1.53 0.58 13 5

Data as orig reptd.; bef. results of disc opers/spec. items. Per share data adj. for stk. divs.; EPS diluted. E-Estimated. NA-Not Available. NM-Not Meaningful. NR-Not Ranked. UR-Under Review.

Quantitative Evaluations
Relative Strength Rank 42/MODERATE
Highest=99

S&P Quality Ranking D C BB B+ AA

B+ A+

42
Lowest=1

Fair Value Calculation $57.90 Commentary about price change through the past year

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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Corporate Information
List of Officers R. Timmer Investor Contact M.W. Wentz Chrmn D.A. Wentz CEO G.D. Hekking CFO R.W. Truett COO J.H. Bramble Secy & General Counsel ................................................................................................................................................................... List of Board Members M.W. Wentz R. Anciaux G.A. Fuller J.G. McClain R.S. Poelman ................................................................................................................................................................... Founded 1992 ................................................................................................................................................................... Employees (#) 1,240 ................................................................................................................................................................... Stockholders 410 ................................................................................................................................................................... Transfer Agents American Stock Transfer & Trust Co. ................................................................................................................................................................... Auditor PRICEWATERHOUSECOOPERS ................................................................................................................................................................... Subsidiaries FMG Productions, Inc. USANA Australia Pty, Ltd. USANA Canada Co. USANA Health Sciences (NZ) Corporation USANA Health Sciences Korea Ltd. USANA Health Sciences Singapore Pte, Ltd. USANA Hong Kong Limited USANA Japan, Inc. USANA Mexico S.A. de C.V. Wasatch Product Development, Inc. ...................................................................................................................................................................

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

Corporate History
INCORPORATED in Utah July 20, 1992, as a wholly owned subsidiary of Gull Laboratories, Inc. On Apr. 21, 1993, Gull distributed the company's Common stock to holders of Gull Common stock on a share-for-share basis. Name changed from USANA, Inc. to USANA Health Sciences, Inc. in July 2000. July 9, 2003, acquired Wasatch Product Development, Inc. for $5.3 million.

Company Management Bios

M.W. Wentz Chrmn Dr. Myron W. Wentz, Ph.D serves as the Chairman and Chief Executive Officer of Gull Holdings Ltd. Dr. Wentz founded USANA Health Sciences Inc. in 1992 and has been its Chairman since 1992. Dr. Wentz serves as Chairman and President of USANA, Inc. Dr. Wentz served as Chief Executive Officer of USANA Health Sciences Inc. from 1992 to July 2008. In 1974, Dr. Wentz founded Gull Laboratories, Inc., the former parent company of USANA. Dr. Wentz served as President of Gull Laboratories Inc. from 1974 to 1994. He developed the IFA products currently being manufactured and marketed by Gull Laboratories Inc. In 1998, Dr. Wentz founded Sanoviv, S.A. de C.V. ('Sanoviv'). From 1969 to 1973, Dr. Wentz served as Director of Microbiology for Methodist Medical Center, Proctor Community Hospital, and Pekin Memorial Hospital. In 1969, Dr. Wentz joined a pathology group in Peoria, IL where until 1973 he served as the infectious disease specialist and directed the microbiology and immunology laboratories for three hospitals in the Peoria area. Dr. Wentz served as Chairman and Director of Gull Laboratories, Inc. from 1974 to 1998. He has been a Director of USANA Health Sciences Inc. since 1992. He served as Director of Immunosyn Corporation from March 14, 2008 to March 20, 2009. He served as a Director of Gull Laboratories Inc. since 1974. Dr. Wentz's business acumen has been recognized through a Presidential appointment as an advisor to the SBA and receiving an Ernst & Young Entrepreneur of the Year Award. In 2007, he received the Albert Einstein Award for lifelong achievement in science. Dr. Wentz received a Ph.D. in microbiology, with a specialty in immunology from the University of Utah, a M.S. degree in Microbiology from the University Of North Dakota and a B.S. Degree in Biology from North Central College. D.A. Wentz CEO David A. Wentz, Dave has been Chief Executive Officer of USANA Health Sciences Inc. since July 2008. Mr. Wentz served as President of USANA Health Sciences Inc. from July 2002 to July 2008 and its Executive Vice President from October 2001 to July 2002. He joined USANA Health Sciences Inc. as a part-time employee in 1992. He has been a full-time employee since March 1994. He served as Senior Vice President of Strategic Development from June 1999 to October 2001 and as Vice President of Strategic Development from August 1996 to June 1999. He served as a Director of USANA Health Sciences Inc. since 1993. Mr. Wentz received a B.S. degree in Bioengineering from the University of California, San Diego. G.D. Hekking CFO Mr. G. Douglas Hekking has been the Chief Financial Officer of USANA Health Sciences Inc. since May 10, 2011. R.W. Truett COO Mr. Roy W. Truett has been the Chief Operating Officer of USANA Health Sciences Inc. since May 10, 2011. Mr. Truett served as the Chief Information Officer of USANA Health Sciences from July 2008 to May 10, 2011. He served as Vice President of Information Technology of USANA Health Sciences Inc. since July 2005. He joined USANA in April, 2003 as an Executive Director of Information Technology and served until July 2005. Prior to joining USANA, Mr. Truett was employed at Humana Inc., where he was accountable for all IT systems related to corporate sales, marketing, and telemarketing activities. Mr. Truett received a Bachelor's degree in Business Administration with an emphasis in information systems management from Francis Marion University in Florence, South Carolina and a Master of Business Administration from the University of Phoenix.

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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Company Management Bios Continued
J.H. Bramble Secy & General Counsel James H. Bramble, Jim has been a Corporate Secretary of USANA Health Sciences Inc. since July 2008 and has been its Vice President and General Counsel since April 2006. Mr. Bramble joined USANA in March 1998 to manage the Compliance and Legal Departments. He was employed with Novus Services. He holds a Bachelor's of Science degree in Political Science with a minor in Spanish from the University of Utah in Salt Lake City, Utah. He received his Juris Doctorate in Law from the University of Utah College of Law.

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Stock Performance
Based on S&P 1500 Indexes Month-End Price Performance as of 11/30/11
S&P 1500 180 160 140 120 100 80 60 40 20 0 Sector Sub-Industry

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

Sub-Industry Outlook
Our fundamental outlook for the personal products sub-industry is neutral. In the year ahead, we see potential for some positive unit growth, as various economies show improvement. With the U.S. unemployment rate expected to be relatively high and gasoline and food costs aloft, we think U.S. consumers will be quite price-sensitive. However, there were signs of improvement in the fragrance and prestige beauty categories in late 2010 and early 2011. We think the ability of companies to fend off market share gains from suppliers of lower-priced products will depend, in part, on the marketing support that they provide, and on the scope and success of their product innovation. We think sales of some personal care products could be bolstered by treatments (e.g., manicures, facials) being done at home, as part of consumers' efforts to save money. However, we expect relatively lackluster economic growth in some developed markets, such as the U.S., to limit overall revenue and profit gains. Fluctuation in the value of the U.S. dollar can impact reported results from multinational personal products companies. In general, a weaker dollar boosts the translation of foreign results for U.S.-based companies, while a stronger dollar decreases them. Also, depending on where products are manufactured and sold, there may be a foreign currency transaction impact on profits. The impact of currency fluctuation can vary, depending, in part, on the extent that a company has hedged against currency fluctuation. Also, profitability can be affected by various commodity costs, including oil and natural gas. Our overall longer-term outlook for the sub-industry is favorable. We believe economic growth and changing lifestyles in developing international markets should provide growth opportunities. We expect that emerging international markets will include rising demand for packaged products that consumers could previously not afford.

2006

2007

2008

2009

2010

2011

Note: All Sectors & Sub-Industry information is based on the Global Industry Classification Standard (GICS)

In the U.S., we expect the demographics of an aging population will affect product demand. We think the personal care area will be bolstered by an increased awareness and interest in health and well-being. We also expect to see a growing focus on products that are viewed as being relatively environmentally friendly. Year to date, through November 11, the S&P Personal Products Index was down 5.5%, compared to a 0.3% drop for the S&P 1500 Index. In 2010, the S&P Personal Products Index rose 18.1%, versus a 14.2% increase for the S&P 1500. --Esther Y. Kwon, CFA

Sub-Industry: Personal Products Peer Group*: Based on market capitalization within GICS Sub-Industry
Stock Symbol Stk Mkt Cap (M) 447 Recent Stk ($) 52 Wk H/L ($) Beta Yield (%) P/E Ratio 10 Fair Val Calc($) 57.90 Quality Ranking S&P IQ %ile 88 Ret on Rev (%) 8.8 LTD to Cap (%) NA

USANA Health Sciences USNA 29.91 44.30/23.10 0.82 Nil B+ ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Amer Oriental AOB 48 0.61 2.57/0.50 1.79 Nil 4 NA NR 2 5.3 21.1 Bioengineering ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Herbalife Ltd HLF 6,009 51.66 63.40/31.26 1.54 1.5 17 55.10 NR 79 10.6 26.3 ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Integrated BioPharma INBP 1 0.03 0.28/0.03 2.36 Nil NM NA C 3 NA NA ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Mannatech Inc MTEX 13 0.49 2.15/0.46 0.68 Nil NM NA C 26 NA NA ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Medifast Inc MED 203 14.49 31.49/12.97 1.89 Nil 10 16.70 B 82 7.6 6.2 ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Natural Alternatives Intl NAII 56 8.09 9.47/3.00 0.52 Nil 10 NA B70 9.0 NA ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Reliv' International RELV 15 1.22 2.50/1.16 0.08 3.3 11 NA B 56 2.1 23.0 ..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... ....................................................................................................................................... Schiff Nutrition Intl'A' WNI 345 11.71 13.02/6.85 0.64 Nil 25 8.70 B 85 5.9 NA
..................................................................................... ...................................................................................................... ................................................. .............................................................. ............................. ............................... .......................................................................................................................................

NA-Not Available NM-Not Meaningful NR-Not Rated. *For Peer Groups with more than 15 companies or stocks, selection of issues is based on market capitalization.

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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

S&P Analyst Research Notes and other Company News

December 16, 2011 USANA Health Sciences Inc. announced that it has hired Doug Braun as its new vice president of marketing. Braun was most recently the president of Nikken International Inc., where he provided strategic guidance to thousands of Independent Consultants and was responsible for business development, global sales and marketing. The company has also appointed Dan Macuga, company's former vice president of marketing, public relations and social media, to chief communications officer. Prior to his new role as Chief Communications Officer, Macuga spent 15 successful years with the Chrysler Corporation before coming to company in 2007. October 26, 2011 USANA Health Sciences Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 1, 2011. The company reported net sales in the third quarter of 2011 increased by 6.3% to $143.5 million, compared with $135.0 million in the prior year period. This net sales growth was driven by higher product sales in the company's Asia Pacific region. In addition, favorable currency exchange rates added $5.1 million to the quarter's net sales growth. Net earnings in the third quarter decreased as compared with the prior year period by 3.6% to $12.4 million due to a 172 basis point increase in operating expenses, which was partially offset by improved gross profit margins. The increased operating expenses were predominantly due to an increase in Associate Incentives. Earnings per diluted share for the quarter increased 2.5% to $0.81, compared with $0.79 in the third quarter of the prior year. This increase resulted from a decreased number of diluted shares outstanding from share repurchases over the last twelve months and was partially offset by lower net earnings. Earnings from operations were $18.78 million compared to $18.54 million last year. Earnings before income taxes were $18.91 million compared to $19.09 million last year. For the nine months, the company's net sales increased by 14.7% to $436.0 million, compared with $380.1 million in the prior year. This growth was driven by higher product sales and an increased average number of active Associates in the Asia Pacific region. Net earnings were increased by 13.0% to $37.59 million, or $2.39 per diluted share, compared to $33.26 million or $2.11 per diluted share last year. This growth in net earnings resulted from improved gross profit margins on higher sales. Earnings from operations were $57.16 million compared to $50.09 million last year. Earnings before income taxes were $57.39 million compared to $50.39 million last year. The company projects consolidated net sales to be between $577 million and $581 million for the year, versus its previous outlook of $565 million to $575 million. In addition, the company now expects to generate earnings per share between $3.20 and $3.25 versus its previous outlook of $3.05 to $3.10. October 7, 2011 USANA Health Sciences Inc. announced that they will report Q3, 2011 results After-Market on Oct 25, 2011 August 26, 2011 USANA Health Sciences Inc. announced its plans to expand into France and Belgium in the first quarter of 2012. With the addition of these two markets, USANA will have operations in 18 markets worldwide. USANA's Western European office headquarters will reside in France. July 27, 2011 USANA Health Sciences Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 2, 2011. For the quarter, net sales increased by 18.2% to $148,925,000 compared with $126,011,000 in the second quarter of the prior year. Net earnings increased by 28.7% to $13,856,000 or $0.88 per diluted share, compared with $10,770,000 or $0.69 per diluted share in the second quarter of the prior year. Net earnings growth resulted from improved gross profit margins on higher net sales and lower relative selling, general and administrative expenses. Earnings per share for the period benefited by $0.06 due to the recapture of unvested equity compensation expense related to the departure of certain executives from the company. Earnings from operations were $21,154,000 compared to $17,062,000 a year ago. Earnings before income taxes were $21,154,000 compared to $16,475,000 a year ago. For the six months ended July 2, 2011, net sales
Page 7 of 11
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increased by 19.3% to $292.5 million, compared with $245.1 million in the prior year. This growth was driven by higher product sales and an increased number of active Associates in the Asia Pacific region. Net earnings increased by 23.5% to $25.2 million, or $1.58 per share compared with $1.31 per share in the prior year. This net earnings growth resulted from significantly improved gross profit margins on higher sales. These improvements were partially offset by higher selling, general, and administrative expenses that can primarily be attributed to the inclusion of BabyCare's operations. For the year 2011, based on the strength of results in the first half of the year, company was raising outlook. It now projected consolidated net sales to be between $565 million and $575 million for the year, versus previous outlook of $530 million to $550 million. In addition, company now expected to generate earnings per share between $3.05 and $3.10 versus previous outlook of $2.85 to $2.95. This renewed outlook reflects the continued integration of BabyCare into business, as well as the competitive challenges that company will likely face in the second half of the year. The company expects a second tax rate of 34.5%. July 12, 2011 USANA Health Sciences Inc. announced it has obtained the U.S. Food and Drug Administration's "Drug Establishment Registration," allowing the company to manufacture over-the-counter (OTC) drugs and holding it to a standard well above what is required of a dietary supplement manufacturer. While nutritional companies in the United States are not expected to follow pharmaceutical Good Manufacturing Practices (GMPs), USANA believed it was an important, logical step to acquire government registration proving their long-standing commitment to producing the highest quality products. As an FDA-registered facility, USANA now has the ability to manufacture OTC drugs as well. All products manufactured under this license will be subject to very rigorous FDA drug manufacturing GMP guidelines going well beyond those required to manufacture nutritional supplements. June 30, 2011 USNA says preliminary Q2 net sales are expected to exceed $147.0M, EPS are expected to be at or above $0.85. Notes EPS will benefit by about $0.06 due to the recapture of unvested equity compensation expense related to the departure of certain executives from co. June 30, 2011 USANA Health Sciences Inc. announced that they will report Q2, 2011 results After-Market on Jul 26, 2011 May 19, 2011 USANA Health Sciences Inc. announced plans to expand into Thailand in the fourth quarter of 2011. This will be USANA's 16th market in which independent distributors sell USANA's high quality, science-based products.

Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Consensus Analyst Opinion
BUY BUY/ HOLD HOLD WEAK HOLD SELL

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

Analyst Recommendations
Monthly Average Trend Buy
B

Buy/Hold
BH

Hold
H

Weak Hold
WH

Sell S

No Opinion

Buy

Hold Sell

Average

Companies Offering Coverage

Avondale Partners, LLC Canaccord Genuity D.A. Davidson & Co. Janney Montgomery Scott LLC Jefferies & Company, Inc. Sidoti & Company, LLC Wedbush Securities Inc.

B BH H WH S

Number of Analysts Following Stock 8 6

Consensus vs. Performance

For fiscal year 2011, analysts estimate that USNA will earn $3.23. For the 3rd quarter of fiscal year 2011, USNA announced earnings per share of $0.81, representing 25% of the total annual estimate. For fiscal year 2012, analysts estimate that USNA's earnings per share will grow by 8% to $3.50.

Stock Price ($) 50

40

30

20

2010

2011

Buy Buy/Hold Hold Weak Hold Sell No Opinion Total

No. of Rankings 1 0 2 0 1 0 4

% of Total 25 0 50 0 25 0 100

1 Mo. Prior 1 0 2 0 1 0 4

3 Mos. Prior 1 0 2 0 1 0 4

............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ...............................................................................................................................................................................................................................................................................................................................

Consensus Earnings Estimates

Estimates 4 3.5 3 2.5
A S O N D J F M A M J J A S O N D

2011

2012

2010

2011

Fiscal Years 2012 2011 2012 vs. 2011 Q4'12 Q4'11 Q4'12 vs. Q4'11

Avg Est. 3.50 3.23 8% 0.95 0.88 8%

High Est. 3.60 3.26 10% 1.02 0.91 12%

Low Est. 3.40 3.20 6% 0.87 0.85 2%

# of Est. 4 4 0% 3 4 -25%

Est. P/E 8.5 9.3 -9% 31.5 34.0 -7%

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............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ............................................................................................................................................................................................................................................................................................................................... ...............................................................................................................................................................................................................................................................................................................................

Source: S&P, Capital IQ Estimates, Inc. Please read the Required Disclosures on the last page of this report. Redistribution is prohibited without written permission Copyright 2011 The McGraw-Hill Companies, Inc.

Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Glossary
Quantitative Evaluations In contrast to our qualitative STARS recommendations, which are assigned by S&P analysts, the quantitative evaluations described below are derived from proprietary arithmetic models. These computer-driven evaluations may at times contradict an analyst's qualitative assessment of a stock. One primary reason for this is that different measures are used to determine each. For instance, when designating STARS, S&P analysts assess many factors that cannot be reflected in a model, such as risks and opportunities, management changes, recent competitive shifts, patent expiration, litigation risk, etc. S&P Quality Ranking Growth and stability of earnings and dividends are deemed key elements in establishing S&P's Quality Rankings for common stocks, which are designed to capsulize the nature of this record in a single symbol. It should be noted, however, that the process also takes into consideration certain adjustments and modifications deemed desirable in establishing such rankings. The final score for each stock is measured against a scoring matrix determined by analysis of the scores of a large and representative sample of stocks. The range of scores in the array of this sample has been aligned with the following ladder of rankings: A+ A AB+ NR Highest High Above Average Average Not Ranked B BC D Below Average Lower Lowest In Reorganization S&P Fair Value Calculation The price at which a stock should trade at, according to S&P's proprietary quantitative model that incorporates both actual and estimated variables (as opposed to only actual variables in the case of S&P Quality Ranking). Relying heavily on a company's actual return on equity, the S&P Fair Value model places a value on a security based on placing a formula-derived price-to-book multiple on a company's consensus earnings per share estimate. Insider Activity Gives an insight as to insider sentiment by showing whether directors, officers and key employees who have proprietary information not available to the general public, are buying or selling the company's stock during the most recent six months. Funds From Operations (FFO) FFO is Funds from Operations and equal to a REIT's net income, excluding gains or losses from sales of property, plus real estate depreciation. Volatility Rates the volatility of the stock's price over the past year. Technical Evaluation In researching the past market history of prices and trading volume for each company, S&P's computer models apply special technical methods and formulas to identify and project price trends for the stock. Relative Strength Rank Shows, on a scale of 1 to 99, how the stock has performed versus all other companies in S&P's universe on a rolling 13-week basis. Global Industry Classification Standard (GICS) An industry classification standard, developed by Standard & Poor's in collaboration with Morgan Stanley Capital International (MSCI). GICS is currently comprised of 10 Sectors, 24 Industry Groups, 67 Industries, and 147 Sub-Industries. Exchange Type ASE - NYSE Amex; NNM - Nasdaq Global Select; NSC - Nasdaq Capital Markets; NYSE - New York Stock Exchange; AMEX - American Stock Exchange; AU Australian Stock Exchange; BB - ITC Bulletin Board; OTC - Over-the-Counter; CNSX - Canadian National Stock Exchange; TO - Toronto Stock Exchange; TVX Toronto Venture Exchange. Dividends on American Depository Receipts (ADRs) and American Depository Shares (ADSs) are net of taxes (paid in the country of origin).

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products.

S&P Fair Value Rank Using S&P's exclusive proprietary quantitative model, stocks are ranked in one of five groups, ranging from Group 5, listing the most undervalued stocks, to Group 1, the most overvalued issues. Group 5 stocks are expected to generally outperform all others. A positive (+) or negative (-) Timing Index is placed next to the Fair Value ranking to further aid the selection process.A stock with a (+) added to the Fair Value Rank simply means that this stock has a somewhat better chance to outperform other stocks with the same Fair Value Rank. A stock with a (-) has a somewhat lesser chance to outperform other stocks with the same Fair Value Rank. The Fair Value rankings imply the following: 5-Stock is significantly undervalued 4-Stock is moderately undervalued 3-Stock is fairly valued 2-Stock is modestly overvalued 1-Stock is significantly overvalued

Page 9 of 11
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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products Required Disclosures
S&P Global Distribution of Quantitative Recommendations In North America: As of September 30, 2011, Standard & Poor's Quantitative Services North America recommended 42.2% of issuers under coverage with buy recommendations, 54.2% with hold recommendations and 3.6% with sell recommendations. In Europe: As of September 30, 2011, Standard & Poor's Quantitative Services Europe have recommended 34.4% of issuers under coverage with buy recommendations, 49.4% with hold recommendations and 16.2% with sell recommendations. In Asia: As of September 30, 2011, Standard & Poor's Quantitative Services Asia have recommended 48.4% of issuers under coverage with buy recommendations, 45.7% with hold recommendations and 5.9% with sell recommendations. Globally: As of September 30, 2011, Standard & Poor's Quantitative Services globally have recommended 41.5% of issuers under coverage with buy recommendations, 52.6% with hold recommendations and 5.9% with sell recommendations. S&P Global Distribution of its Qualitative Recommendations (STARS coverage): In North America: As of September 30, 2011, Standard & Poor's Quantitative Services North America recommended 42.2% of issuers under coverage with buy recommendations, 54.2% with hold recommendations and 3.6% with sell recommendations. In Europe: As of September 30, 2011, Standard & Poor's Quantitative Services Europe have recommended 34.4% of issuers under coverage with buy recommendations, 49.4% with hold recommendations and 16.2% with sell recommendations. In Asia: As of September 30, 2011, Standard & Poor's Quantitative Services Asia have recommended 48.4% of issuers under coverage with buy recommendations, 45.7% with hold recommendations and 5.9% with sell recommendations. Globally: As of September 30, 2011, Standard & Poor's Quantitative Services globally have recommended 41.5% of issuers under coverage with buy recommendations, 52.6% with hold recommendations and 5.9% with sell recommendations. Relevant benchmarks: In North America the relevant benchmark is the S&P 500 Index, in Europe and in Asia; the relevant benchmarks are generally the S&P Pan Europe BMI Index and the S&P Pan Asia BMI Index. For All Regions: All of the views expressed in this research report reflect Standard & Poor's research models regarding the issuer and securities mentioned in this report. No part of the compensation received by Standard & Poor's was, is, or will be, directly or indirectly, related to the specific recommendation expressed in this research report.

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products. Additional information is available upon request.

Disclaimers
This report is based upon information that we consider being reliable, but neither S&P nor its affiliates warrant its completeness, accuracy, adequacy and it should not be relied upon as such. Neither S&P nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested. Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate. Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor. The information contained in this report does not constitute advice on the tax consequences of making any particular investment decision. This material is not intended for any specific investor and does not take into account a particular investor's investment objectives, financial situations or needs and is not intended as a recommendation of particular securities, financial instruments or strategies. Before acting on any recommendation in this material, an investor should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. For residents of Brazil. This report (i) contains information of general nature provided for informational purposes only, (ii) should not be construed in any manner as any solicitation or offer to buy, sell or hold any securities or any related financial instruments or products neither as any investment advice and/or recommendation regarding any securities or any related financial instruments or products, (iii) should not be relied upon in assessing whether or not to invest in the securities or in any related financial instruments or products mentioned herein; and (iv) should not be construed in any manner as an offer of any securities or any related financial instruments or products. For residents of Chile. This report is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.

Other Disclosures
This report has been prepared by Standard & Poor's and issued by Standard & Poor's or one of its affiliates. In the United States, this research reports is issued by Standard & Poor's Financial Services LLC ("S&P"); in the United Kingdom by Standard & Poor's LLC ("S&P LLC"), which is authorized and regulated by the Financial Services Authority; in Hong Kong by Standard & Poor's LLC, which is regulated by the Hong Kong Securities Futures Commission; in Singapore by Standard & Poor's LLC, which is regulated by the Monetary Authority of Singapore; in Malaysia by Standard & Poor's Malaysia Sdn Bhd ("S&PM"), which is regulated by the Securities Commission; in Australia by Standard & Poor's Information Services (Australia) Pty Ltd ("SPIS"), which is regulated by the Australian Securities & Investments Commission; and in Korea by Standard & Poor's Investment Advisory Services LLC, which is regulated by the Financial Services Commission as a cross-border investment advisory company. The research and analytical services performed by Standard & Poor's Equity Research's Quantitative team for this report are performed separately from any other analytical activity of Standard & Poor's. This report may also include research notes that were prepared by the Standard & Poor's equity analyst assigned to the company for STARS coverage. These research updates apply different criteria and standards, which may lead to a different view or recommendation on the company and which may at times, contradict the quantitative assessment of a stock. Standard & Poor's or an affiliate may license certain intellectual property or provide pricing or other services to, or otherwise have a financial interest in, certain issuers of securities. A reference to a particular investment or security by Standard & Poor's and/or one of its affiliates is not a recommendation to buy, sell, or hold such investment or security, nor is it considered to be investment advice. Standard & Poor's and its affiliates provide a wide range of services to, or relating to, many organizations, including issuers of securities, investment advisers, broker-dealers, investment banks, other financial institutions and financial intermediaries, and accordingly may receive fees or other economic benefits from those organizations, including organizations whose securities or services they may recommend, rate, include in model portfolios, evaluate or otherwise address. This report is for information purposes and should not be considered a solicitation to buy or sell any security. Neither S&P nor any other party guarantees its accuracy or makes warranties regarding results from its usage. S&P receives compensation from the issuer or an agent thereof for initiating coverage, and for distribution including licensed redistribution of this report, and/or for inclusion in other S&P publications, generally in amounts up to U.S. $14,175 per year. Redistribution is prohibited without written permission.

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Factual Stock Report | December 17, 2011

USANA Health Sciences Inc (USNA) NYS

GICS Sector: Consumer Staples Sub-Industry: Personal Products
For residents of the People's Republic of China. This report or any material or information contained or incorporated by reference herein, has not been and will not be submitted to or approved/verified by or registered with the Chinese Securities Regulatory Commission or other relevant governmental authorities in the People's Republic of China (excluding Hong Kong, Macau and Taiwan, the "PRC"). Therefore this may not be supplied to the public in the PRC or used as investment advisory services for the purpose of investing in the PRC. This report will not be presented or otherwise constitute provision of any consultancy or advisory service of securities investment This report does not constitute an offer to sell or the solicitation of an offer to buy any securities to any person to whom it is unlawful to make the offer or solicitation in the PRC. S&P and its affiliates does not represent that this report or any material or information contained or incorporated by reference therein may be lawfully distributed, or that any securities may be lawfully offered, in compliance with any application registration or other requirements in the PRC, or pursuant to an exemption available thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular, no action has been taken by Standard & Poor's, which would permit a public offering of any securities or distribution of this document in the PRC. Neither this report nor any advertisement or other offering material may be distributed or published in the PRC, except under circumstances that will result in compliance with any applicable laws and regulations. For residents of Japan: With respect to reports issued to clients in Japan and in the case of inconsistencies between the English and Japanese version of a report, the English version prevails. Neither S&P nor its affiliates guarantee the accuracy of the translation. Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Neither S&P nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance is not necessarily indicative of future results. For residents of Australia: Disclaimer: Standard & Poor's Information Services (Australia) Pty Ltd (ABN 17 096 167 556) (Standard & Poor's) rating and other opinions are and must be construed solely as statements of opinion and not statements of fact or recommendations to purchase, sell or hold any financial product(s). Conclusions, ratings and opinions are reasonably held at the time of completion but subject to change without notice. Standard & Poor's assumes no obligation to update any information following publication. No warranty, express or implied, is given or made by Standard & Poor's as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any Standard & Poor's rating, opinion or other information and Standard & Poor's will not be liable to any party in contract or tort (including for negligence) or otherwise for any loss or damage arising as a result of any party relying on any such rating, opinion or other information (except in so far as statutory liability cannot be excluded). Any statement of fact is based on information provided to Standard & Poor's by our

Summary: This company develops and manufactures high-quality nutritional, personal care, and weight
management products. clients or obtained from sources, which Standard & Poor's considers reliable. Standard & Poor's does not perform an audit in connection with any rating and may rely on unaudited information. Because of the possibility of human or mechanical error by our sources, Standard & Poor's or others, Standard & Poor's does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Readers should make their own inquiries. Warning: Past performance is not a reliable indicator of future performance. Any express or implied Standard & Poor's rating or advice is limited to "General Advice" and based solely on consideration of the investment merits of the financial product(s) alone. The information has not been prepared for use by retail investors and has been prepared without taking account of any particular person's financial or investment objectives, financial situation or needs. Before acting on any advice, any person using the advice should consider its appropriateness having regard to their own or their clients' objectives, financial situation and needs. You should obtain a Product Disclosure Statement relating to the product and consider the statement before making any decision or recommendation about whether to acquire the product. Each rating or other opinion must be weighed solely as one factor in any investment decision made by or on behalf of any adviser and any such adviser must accordingly make their own assessment taking into account an individual's particular circumstances. Standard & Poor's from time-to-time provides fund managers and other clients with investment data, research software, and other financial planning services. Standard & Poor's is a wholly owned member of The McGraw-Hill Companies, Inc, a New York Corporation. The analytic services and products provided by Standard & Poor's and its associates are the result of separate activities in order to preserve the independence and objectivity of each analytic process. Each analytic product or service is based on information received by the analytic group responsible for such product or service. Standard & Poor's and its associates have established policies and procedures to maintain the confidentiality of non-public information received during each analytic process. Standard & Poor's holds an Australian Financial Services Licence Number 258896. Please refer to Standard & Poor's Financial Services Guide for more information at www.assirt.com.au. "Standard & Poor's" and "Standard & Poor's" are trademarks of The McGraw-Hill Companies, Inc. Copyright 2008 Standard & Poor's Information Services (Australia) Pty Limited. Certain funds data contained herein may be proprietary to Morningstar, Inc. For residents of the U.K. - This report is only directed at and should only be relied on by persons outside of the United Kingdom or persons who are inside the United Kingdom and who have professional experience in matters relating to investments or who are high net worth persons, as defined in Article 19(5) or Article 49(2) (a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, respectively. For residents of Singapore - Anything herein that may
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be construed as a recommendation is intended for general circulation and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. Advice should be sought from a financial adviser regarding the suitability of an investment, taking into account the specific investment objectives, financial situation or particular needs of any person in receipt of the recommendation, before the person makes a commitment to purchase the investment product. Third-party data providers - this report was prepared from data provided by Capital IQ, an affiliate of Standard & Poor's. The model used to determine the quantitative output is managed by Standard & Poor's Investment Advisory Services LLC (SPIAS); an affiliate of Standard & Poor's is used on a non-exclusive basis by SPIAS for its advisory clients. Neither Standard & Poor's nor any of the data providers guarantee the accuracy, timeliness, and completeness or correct sequencing of information or warrant any results from use of the information contained in this report. The information included in this report is subject to change without notice.

Please read the Required Disclosures on the last page of this report. Redistribution is prohibited without written permission Copyright The McGraw-Hill Companies, Inc.