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Mannatech Reports Q4 Sales Of $39.4 Million

Mannatech Reports Q4 Sales Of $39.4 Million

Fourth quarter net sales for 2019 were $39.4 million, a decrease of $4.6 million, or 10.5%, as compared to $44.0 million in the fourth quarter of 2018. Income from operations increased to $2.7 million for the fourth quarter 2019, from a loss of $0.5 million in the same period in 2018. Net income was $2.1 million, or $0.87 per diluted share, for the fourth quarter 2019, as compared to a net loss of $1.6 million, or ($0.66) per diluted share, for the fourth quarter 2018.

Gross profit as a percentage of sales decreased to 78.9% for the three months ended December 31, 2019, as compared to 79.5% for the same period in 2018.

Commissions as a percentage of net sales were 39.9% for the three months ended December 31, 2019, as compared to 40.2% for the same period in the prior year. Incentive costs as a percentage of net sales were 0.9% for the three months ended December 31, 2019, as compared to 3.4% for the same period in 2018.

For the three months ended December 31, 2019, overall selling and administrative expenses decreased by $2.5 million to $5.9 million, as compared to $8.5 million for the same period in 2018. The decrease in selling and administrative expenses consisted primarily of a $1.4 million decrease in payroll related costs, a $1.0 million decrease in marketing costs and a $0.1 million decrease in warehouse costs.

For the three months ended December 31, 2019, other operating costs decreased by $1.5 million to $5.9 million, as compared to $7.4 million for the same period in 2018. The decrease in other operating costs was primarily due to a decrease in legal and consulting fees as well as travel and entertainment costs associated with our corporate sponsored events.

The approximate number of new and continuing independent associate and preferred customer positions held by individuals in Mannatech’s network and associated with purchases of our packs or products as of December 31, 2019 and 2018 were approximately 169,000 and 200,000, respectively. Recruiting decreased 9.7% in the fourth quarter of 2019 as compared to the fourth quarter of 2018. The number of new independent associate and preferred customer positions in the company’s network for the fourth quarter of 2019 was 18,462 as compared to 20,447 in 2018.

About Mannatech

Mannatech, Incorporated, offers a profound wellness experience that makes a difference in the lives of people across the world. Through its innovative Glyconutrition products, Mannatech changes lives, providing an unprecedented level of natural wellness, freedom and purpose. With 25 years of experience and operations in 26 markets^, Mannatech is committed to changing lives.

For more information please visit www.mannatech.com

 

Get more information, fact and figures about Mannatech, click here for the Mannatech overview.

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