Shares of Herbalife Ltd. ratcheted up nearly 3 percent on Feb. 23, a day after the Los Angeles-based global health nutrition company posted a fourth quarter loss of more than $63 million.

The downtown company announced late Feb. 22 that it had lost $63.4 million (or 87 cents a share) for the last three months ended Dec. 31, compared with earning $99.4 million (or $1.16 a share) in the same period a year ago.

Adjusted earnings for the fourth quarter were $1.29 a share, compared with $1 a share for the same period in 2016.

Shares in Herbalife closed Friday at $85.63, a gain of 3 percent and approaching its 52-week high of $87.44.

North America sales fell 4.9 percent to $192.02 million. Global sales rose 4.6 percent to $1.09 billion, with sales in China rising nearly 12 percent.

The multi-level marketing company posted a provisional charge of $153.3 million (or $2.01 a share) related to the U.S. tax overhaul.

In 2017, Herbalife earned a net $213.9 million (or $2.58 a share), down 17.7 percent from the $260 million (or $3.02 per share) in net earnings the year before.

The company projects net sales growth in the first quarter 2018 between 1 percent and 3 percent, with year-long sales growth between 5.5 percent and 9.5 percent.

Herbalife also announced it had reorganized its executive suite.

Company President Des Walsh will become executive vice-chairman.

John DeSimone, who serves as chief financial officer, will become co-president and chief strategic officer. Dr. John Agwunobi, chief health and nutrition officer, will also serve as co-president. Bosco Chiu, senior vice president and principal accounting officer, will be promoted to executive vice president and chief financial officer.

Health business reporter Dana Bartholomew can be reached at Follow him on Twitter @_DanaBart.

For reprint and licensing requests for this article, CLICK HERE.