Mannatech Second Quarter Net Sales Rise 12.9 Percent to 42.5 Million

Mannatech reported second-quarter net sales of 42.5 million dollars, up 4.9 million dollars, or 12.9 percent, from 37.6 million dollars. Operating income rose to 2.0 million dollars from 1.1 million dollars. Net income was 2.1 million dollars, or 0.99 dollars a diluted share, compared with 1.1 million dollars, or 0.47 dollars, a year earlier. In constant currency, sales rose 6.4 percent.

Associate and preferred customer positions tied to purchases were about 176,000, compared with 172,000 a year earlier. New recruits rose 13.0 percent to 21,527 from 19,047. Selling and administrative costs rose 0.4 million dollars to 7.6 million dollars. The tax provision was 48,000 dollars, a 2.2 percent effective rate, versus 12.3 percent a year earlier.

For the first half, net sales rose 8.8 percent to 80.8 million dollars and operating income rose to 4.8 million dollars from 3.1 million dollars. Half-year net income was 4.3 million dollars, or 2.03 dollars a diluted share. Cash and cash equivalents were 26.0 million dollars at June 30.