Mannatech
August 14, 2023
FLOWER MOUND, Texas, August 14, 2023 --
Mannatech, Incorporated reported second-quarter 2023 net sales of 32.6 million dollars, down 6.8 percent from 35.0 million dollars a year earlier, or 4.0 percent in constant currency after about 1.0 million dollars of unfavorable foreign exchange. Operating loss was 1.0 million dollars versus operating income of 0.9 million dollars. Net loss was 1.1 million dollars, or 0.59 dollars per diluted share, compared with net income of 0.7 million dollars, or 0.34 dollars.
Associate and preferred-customer positions were about 142,000, down from 152,000 a year earlier. Recruitment of new associates and preferred customers fell about 3 percent to 19,309. Cash and cash equivalents were 9.4 million dollars. The company said it would not pay a quarterly dividend, preserving about 0.4 million dollars of cash.
Other operating costs rose 0.6 million dollars and included about 0.4 million dollars of consulting related to Trulu, described as a new innovation-hub venture.