NATURE'S SUNSHINE PRODUCTS
May 9, 2023
LEHI, Utah, May 9, 2023 --
Nature's Sunshine Products reported first-quarter 2023 net sales of 108.6 million dollars, down 1.7 percent from 110.5 million dollars a year earlier, or up 2.4 percent in constant currency. GAAP net income was 1.3 million dollars, or 0.04 dollars per diluted share attributable to common shareholders, versus a loss a year earlier. Adjusted EBITDA was 9.1 million dollars compared with 8.2 million dollars.
SG&A rose to 43.6 million dollars and included a one-time 5.8 million dollar charge related to a financial loss from a criminal scheme directed at a wholly owned subsidiary in Japan, plus related investigation and professional fees. Cash was 65.7 million dollars and debt was about 1.0 million dollars. The company repurchased 90,000 shares for 0.8 million dollars in the quarter.
Chief executive Terrence Moorehead said Japan and Taiwan delivered strong double-digit growth and that digital initiatives were taking hold in North America despite a challenging external environment.