NATURE'S SUNSHINE PRODUCTS
March 10, 2021
Natures Sunshine Products reported fourth-quarter net sales of 101.7 million dollars, up 11 percent from 91.7 million dollars and a company record. Net income attributable to common shareholders was 5.9 million dollars, or 0.29 dollars a diluted share, compared with 1.0 million dollars, or 0.05 dollars, a year earlier.
Full-year net sales rose 6.3 percent to a record 385.2 million dollars. Full-year net income attributable to common shareholders was 21.3 million dollars, or 1.07 dollars a share, compared with 6.8 million dollars, or 0.34 dollars, in 2019. Adjusted EBITDA for the year rose 16 percent to 36.2 million dollars. Cash was 92.1 million dollars, and debt outstanding was 3.7 million dollars.
The board declared a special cash dividend of 1.00 dollar a share, payable April 9, 2021, to shareholders of record on March 29. It also authorized repurchases of up to 15 million dollars of common stock. Chief executive Terrence Moorehead said all four operating units grew in the quarter and that 2020 was the highest sales year in the 48-year history of the company.
Europe led the quarterly sales gain, up 37.1 percent to 23.6 million dollars. North America rose 5.6 percent to 34.7 million dollars. Asia rose 2.3 percent, and Latin America and other markets rose 17.8 percent. Moorehead said a new brand and business model launched in the third quarter lifted customer acquisition and a subscribe-and-thrive membership.