Mannatech Revenue down 25% in Q2 2010 to $57 million
Mannatech Inc. (NASDAQ: MTEX) reported a net loss for its second quarter (2Q10), ended June 30; the net loss of $3.8 million was a positive step from $5.5 million lost in the comparable 2009 period.
Similarly, Mannatech’s operating loss of $2.1 million for 2Q10 moved in the right direction from the $11.1 million loss for 2Q09.
However, the $57.6 million in net sales for 2Q10 was down 25.8 % from the $77.6 million reported for 2Q09; driving the downward trend was a decline of 32 percent in North American sales for 2Q10 compared to the comparable period in 2009. Mannatech noted sales were considerably higher in 2Q09 because of the launch of a lower price pack promotion, yet accompanied by higher commission costs.
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