Business
Natural Health Trends Reports Fourth Quarter and Full Year 2020 Financial Results
– Fourth quarter revenue of $16.6 million increased 17% compared to the third quarter of 2020 – Reduced full year 2020 operating expenses by $9.0 million–
About this update from Natural Health Trends Corp.
[{"type":"text","content":"– Fourth quarter revenue of $16.6 million increased 17% compared to the third quarter of 2020 – Reduced full year 2020 operating expenses by $9.0 million– Third consecutive quarter of positive operating income– Generated positive cash flow from operations in the fourth quarter and full year of 2020– Declared a quarterly cash dividend of $0.20 per share HONG KONG, Feb. 10, 2021 (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, 2020. Fourth Quarter 2020 Financial Highlights Revenue of $16.6 million increased 17% compared to $14.1 million in the third quarter of 2020 and decreased 7% compared to $17.8 million in the fourth quarter of 2019. Operating income was $1.3 million compared to $668,000 in the third quarter of 2020 and operating loss of $3.2 million in the fourth quarter of 2019. 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 income was $747,000, or $0.07 per diluted share, compared to $635,000, or $0.06 per diluted share, in the third quarter of 2020 and net loss of $2.8 million, or $0.27 per diluted share, in the fourth quarter of 2019. The number of Active Members1 decreased 2% to 52,230 at December 31, 2020, compared to 53,300 at September 30, 2020, and decreased 9% compared to 57,410 at December 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. Full Year 2020 Financial Highlights Revenue of $62.1 million decreased 20% compared to $77.6 million in 2019. Operating income was $669,000 compared to operating loss of $7.0 million in 2019. Operating loss included a goodwill impairment charge of $1.8 million in 2019. Net income was $843,000, or $0.07 per diluted share, compared to net loss of $5.6 million, or $0.52 per diluted share, in 2019. Management Commentary “2020 revenue of $62.1 million decreased 20% compared to $77.6 million in 2019 as elements such as government-ma...