Business
Natural Health Trends Reports First Quarter 2020 Financial Results
Strong balance sheet with ample liquidity and $95 million in cash and cash equivalentsDeclared a quarterly cash dividend of $0.20 per shareExpect to realize
About this update from Natural Health Trends Corp.
[{"type":"text","content":"Strong balance sheet with ample liquidity and $95 million in cash and cash equivalentsDeclared a quarterly cash dividend of $0.20 per shareExpect to realize $8 million in annualized cost savings in 2020 HONG KONG, May 06, 2020 (GLOBE NEWSWIRE) -- Natural Health Trends Corp. (NASDAQ: NHTC), a leading direct-selling and e-commerce company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, today announced its financial results for the first quarter ended March 31, 2020.\n First Quarter 2020 Financial Highlights Revenue of $14.9 million decreased 23% compared to $19.3 million in the first quarter of 2019.Operating loss was $1.4 million compared to a loss of $2.7 million in the first quarter of 2019.Net loss was $573,000, or $0.05 per diluted share, compared to a net loss of $1.9 million, or $0.17 per diluted share, in the first quarter of 2019.The number of Active Members1 decreased 2% to 56,490 at March 31, 2020 compared to 57,410 at December 31, 2019, and decreased 35% compared to 87,340 at March 31, 2019. 1 Natural Health Trends defines Active Members as those that have placed at least one product order with the Company during the preceding twelve-month period. Management Commentary “First and foremost, our thoughts are with all of those around the world who have been impacted by the coronavirus,” commented Chris Sharng, President of Natural Health Trends Corp. “I am pleased that we have continued to run our operations efficiently with the health and safety of our employees, members and customers guiding our decisions as our top priority. The impact of the pandemic followed the already difficult operating conditions we experienced throughout 2019. While we could have never foreseen the impact COVID-19 would have on the global economy, we focused our efforts in 2019 on preparing our business to adapt to new realities following China’s 100-day campaign and have been applying key learnings from our experience to support our affected markets. To that end, we started implementing aggressive cost reduction measures beginning in the second half of 2019 which were partially offset by additional spending during the first quarter in direct response to COVID-19 and the governments’ measures to control the spread of the virus. As a result of the net effect of these actions, we narr...