Mannatech
May 11, 2021
Mannatech reported first-quarter net sales of 38.3 million dollars, up 4.7 percent from 36.6 million dollars a year earlier. Income from operations rose to 2.8 million dollars from 2.0 million dollars. Net income was 2.2 million dollars, or 1.04 dollars a diluted share, compared with 2.8 million dollars, or 1.15 dollars a share, a year earlier when tax benefits were larger.
Gross profit was 81.2 percent of sales, up from 80.9 percent. Commissions and incentives stayed at 40.7 percent of sales. Independent associate and preferred customer positions associated with product purchases rose to about 187,000 from about 166,000. Recruitment rose 4.6 percent, with about 19,538 new positions in the quarter.
Selling and administrative expenses rose slightly to 7.1 million dollars, while other operating costs fell 4.4 percent to 5.1 million dollars as travel and entertainment declined. Cash and cash equivalents were 23.6 million dollars at March 31, 2021.