Nu Skin (NUS) shares dropped significantly after the company forecasted first-quarter profit and sales that were well below analysts’ estimates.

NU stock is

down over 12% Monday and as much as 46% YTD following the company’s disappointing forecast. Analysts projected profit of $1.20 a share on sales of $732.3 million in the current quarter but the company forecasts 90 to 94 cents on revenue of $650 million to $670 million.

CEO M. Truman Hunt has spoken out against the Chinese government’s decision to investigate a report that claims that Nu Skin is a “suspected illegal pyramid scheme.”  Hunt has assured that Nu Skin is “absolutely not a pyramid scheme.”