Business
Natural Health Trends Reports Fourth Quarter and Full Year 2019 Financial Results
Fourth quarter 2019 revenue increased 5% from the prior quarterFourth quarter 2019 order volume increased 12% from the prior quarterGenerated positive cash
About this update from Natural Health Trends Corp.
[{"type":"text","content":"Fourth quarter 2019 revenue increased 5% from the prior quarterFourth quarter 2019 order volume increased 12% from the prior quarterGenerated positive cash flow from operations in the fourth quarter 2019Repurchased $10.1 million of common stock and paid $7.3 million in dividends in 2019Declared a quarterly cash dividend of $0.20 per shareExpect to realize $6.5 million in annualized cost savings in 2020 HONG KONG, Feb. 12, 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 fourth quarter and full year ended December 31, 2019.\n Fourth Quarter 2019 Financial Highlights Revenue of $17.8 million decreased 57% compared to $41.6 million in the fourth quarter of 2018. Revenue increased 5% compared to $17.0 million in the third quarter of 2019.Operating loss was $3.2 million compared to operating income of $5.7 million in the fourth quarter of 2018. Operating loss for the fourth quarter of 2019 included an impairment charge of $1.8 million upon the early adoption of a new accounting standard pertaining to goodwill that arose from a merger transaction in March 2004.Net loss was $2.8 million, or $0.27 per diluted share, compared to net income of $5.6 million, or $0.49 per diluted share, in the fourth quarter of 2018.The number of Active Members¹ decreased 16% to 57,410 at December 31, 2019, compared to 68,150 at September 30, 2019, and decreased 41% compared to 97,840 at December 31, 2018.¹ 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. Full Year 2019 Financial Highlights Revenue of $77.6 million decreased 60% compared to $191.9 million in 2018.Operating loss was $7.0 million compared to operating income of $33.7 million in 2018. Operating loss included a goodwill impairment charge of $1.8 million in 2019.Net loss was $5.6 million, or $0.52 per diluted share, compared to net income of $31.0 million, or $2.74 per diluted share, in 2018. Management Commentary “2019 was a challenging year for our business amid a host of macroeconomic and industry-specific factors that created a highly difficult operating environme...