Mannatech
November 7, 2023
FLOWER MOUND, Texas, November 7, 2023 --
Mannatech, Incorporated reported third-quarter 2023 net sales of 32.6 million dollars, down 2.9 million dollars, or 8.3 percent, from 35.5 million dollars a year earlier, and down 8.5 percent on a constant-dollar basis. Operating income fell to 0.2 million dollars from 1.4 million dollars, and net income was 18,000 dollars, or 0.01 dollars per diluted share, compared with 1.2 million dollars, or 0.61 dollars, a year earlier.
Selling and administrative expenses rose to 6.9 million dollars, and other operating costs rose to 5.2 million dollars, including higher bad debt and consulting fees for Trulu, a new venture intended to serve as the company's innovation hub.
Independent associate and preferred customer positions associated with purchases totaled about 146,000 as of September 30, down from 152,000 a year earlier, while recruitment of new associates and preferred customers rose 20.9 percent to 23,296.