Nu Skin said it plans to lower general and administrative expenses and improve profitability by cutting jobs in its corporate offices in the U.S. and China. It also plans to open 67 of its 115 retail stores in China and open 5 larger flagship stores.

The company expects charges between $10 million and $14 million related to employee severance costs and lease termination costs.

Nu Skin predicts revenue of $295 million to $300 million in the fourth quarter, while analysts expect a profit of $302.4 million, according to a poll by Thomson Financial.

For fiscal 2008, the company expects earnings between $1.15 and $1.22 per share on revenue of $1.18 billion to $1.2 billion.

Analysts polled by Thomson Financial expect net income of $1.12 per share on revenue of $1.22 billion.

Shares fell $2.13, or 12.6 percent, to $14.87 during morning trading. The stock has traded between $13.85 and $19.42 during the past 52 weeks.