Mannatech
March 17, 2023
FLOWER MOUND, Texas, March 17, 2023 --
Mannatech, Incorporated reported fourth-quarter 2022 net sales of 34.3 million dollars, down 13.2 percent from 39.5 million dollars a year earlier, or 5.1 percent in constant currency after 3.2 million dollars of unfavorable foreign exchange. Operating loss was 2.7 million dollars versus operating income of 1.0 million dollars. Net loss was 7.0 million dollars, or 3.78 dollars per diluted share, versus net income of 2.6 million dollars, or 1.25 dollars.
Full-year net sales were 137.2 million dollars, down 14.1 percent, or 7.6 percent in constant currency. Full-year net loss was 4.5 million dollars, or 2.35 dollars per diluted share, versus net income of 9.8 million dollars. The tax provision reflected a Korea income-tax audit settlement and a valuation allowance on U.S. deferred tax assets. Associate and preferred-customer positions were about 145,000, down from 163,000.
Cash and cash equivalents fell to 13.8 million dollars from 24.2 million dollars. The company returned capital through 1.5 million dollars of dividends and 2.0 million dollars of share repurchases during the year.