Mannatech
May 12, 2023
FLOWER MOUND, Texas, May 12, 2023 --
Mannatech, Incorporated reported first-quarter 2023 net sales of 34.1 million dollars, up 5.3 percent from 32.4 million dollars a year earlier, or 10.2 percent in constant currency after 1.6 million dollars of unfavorable foreign exchange. Operating income was 0.7 million dollars versus less than 0.1 million dollars. Net income was 0.6 million dollars, or 0.32 dollars per diluted share, compared with 0.1 million dollars, or 0.06 dollars.
Associate and preferred-customer positions were about 143,000, down from 157,000 a year earlier. Recruitment of new associates and preferred customers was essentially flat at 18,547. Cash and cash equivalents were 13.7 million dollars. First-quarter sales included an annual promotion in March that had occurred in April in 2022.
Selling and administrative expenses fell 0.5 million dollars to 6.4 million dollars on lower payroll and warehouse costs, while other operating costs rose 0.7 million dollars on higher consulting, travel and bad-debt expense.