Natural Health Trends Corp. (NHTC), a leading direct selling company that markets premium quality personal care, wellness and quality of life products under the NHT Global brand, today announced record financial results for the quarter ended March 31, 2014.
First Quarter Financial Highlights
- Total revenues were $23.2 million, up 168% compared to $8.7 million in the first quarter last year and up 21% sequentially compared to $19.1 million for the fourth quarter last year. This was the fifth consecutive sequential quarterly increase in revenues.
- Operating income was $3.1 million, up 968% compared to $292,000 last year, and up 88% sequentially from $1.7 million for the fourth quarter last year.
- Net income was $3.1 million, or $0.26 per diluted share, compared to $283,000, or $0.03 per diluted share, last year and $1.6 million, or $0.14 per diluted share, for the fourth quarter last year.
- Cash and cash equivalents increased to $23.3 million as of March 31, 2014 from $14.6 million at December 31, 2013.
The strong momentum we built in 2013 continued into the first quarter, commented Chris Sharng, President of Natural Health Trends Corp.
Net sales in Hong Kong increased 237% and sales in Taiwan increased 12% compared to the first quarter of last year, demonstrating the strong organization we have built in these two important geographies.
We continue to expand our gross profitability, grow our operating income and expand our free cash flow, helping to support our prospect for long-term growth.
Our focus is on sustaining this momentum and continuing to drive improved results, added Mr. Sharng.
All of the critical business drivers that we built: leader support, promotional plans, training, product development, member services and commissions plan are working effectively. We expect 2014 will be an exceptional year for Natural Health Trends, its members, customers and shareholders.