NutriSystem Inc. (NASDAQ: NTRI) reported its first quarter financial results and exceeds estimates in both revenue and earnings. Shares rose by 10.7 percent shortly after the closing bell on Monday.

For the first quarter, NutriSystem reported revenue of $210.93 million, falling 0.8 percent year over year, but topping analysts’ estimates of $207.3 million. The company reported an EPS of $0.09, falling from $0.25 a year prior, but surpassing analysts’ estimates of $0.06.

“We’re pleased first quarter 2018 revenue and earnings per share exceeded our expectations, driven by better than expected results in Nutrisystem’s direct-to-consumer business.” said Dawn Zier, President and Chief Executive Officer. “As anticipated, South Beach Diet revenues increased significantly year-over-year, and we remain excited about the long-term opportunity it represents.”

NutriSystem repurchased $10 million of common stock during the quarter and an additional $5 million in April 2018. The board has declared a quarterly dividend of $0.25 per share, payable by late May.

“Our multi-brand strategy, supported by our strong ecommerce and supply chain platforms, has us well positioned in our growing category. Key metrics for both of our brands are sound and continuing to improve, reinforcing our confidence in delivering meaningful growth in 2019.”

For the full year, NutriSystem forecasts revenue in the range of $693 million and $708 million, higher than the previous guidance of $685 million to $705 million. The company predicts net income in the range of $61.8 million to $64.8 million or a diluted EPS between $2.04 and $2.14, higher than the previous guidance of $1.99 to $2.09. The South Beach Diet brand is expected to generate revenue of $70 million.