Mannatech
November 12, 2024
FLOWER MOUND, Texas, November 12, 2024 --
Mannatech reported third-quarter 2024 net sales of 31.7 million dollars, down 2.5 percent from 32.6 million dollars a year earlier, or 1.2 percent in constant currency, as weaker Asia Pacific demand offset cost cuts. The company posted a net loss of 0.3 million dollars, or 0.17 dollars per diluted share, compared with net income of 18,000 dollars a year earlier.
Income from operations rose to 0.9 million dollars from 0.2 million dollars as selling and administrative expenses fell 21.8 percent to 9.8 million dollars. Associate and preferred-customer positions declined to about 136,000 from 146,000, and recruiting of new associates and preferred customers fell 28.1 percent.
President and Chief Executive Landen Fredrick said the quarter was Mannatech's highest-revenue period of 2024 but that demand weakness persisted globally, especially in Asia Pacific. Cash and cash equivalents rose to 12.2 million dollars from 7.7 million dollars at year-end 2023.