NATURE'S SUNSHINE PRODUCTS
November 4, 2021
Natures Sunshine Products reported third quarter net sales of 114.7 million dollars, up 14 percent from 100.3 million dollars and the fifth straight record sales quarter. Excluding currency, sales rose 12.9 percent. Net income was 5.5 million dollars, or 0.24 dollars per diluted share, compared with 7.2 million dollars, or 0.34 dollars, a year earlier. Adjusted EBITDA rose 38 percent to 12.9 million dollars. Operating income rose 83 percent to 10.0 million dollars.
Asia sales were 48.4 million dollars, up 27 percent. Europe rose 21 percent. North America was about flat. Chief executive Terrence Moorehead said every market the company operates in was growing and credited rebranding, sales fundamentals, and the website. Gross margin improved to 74.4 percent. Volume incentives fell to 31.2 percent of sales from 34.2 percent.
Cash was 75.5 million dollars and debt was 2.7 million dollars. In the first nine months the company repurchased 350,000 shares for 6.0 million dollars and generated 20.3 million dollars of cash from operations. Net income attributable to common shareholders was 4.9 million dollars for the quarter.