Business
Natural Health Trends Reports Second Quarter 2020 Financial Results
– Revenue of $16.4 million increased 10% from the first quarter of 2020– Aggressive cost cutting measures facilitated a return to profitability in the second
About this update from Natural Health Trends Corp.
[{"type":"text","content":"– Revenue of $16.4 million increased 10% from the first quarter of 2020– Aggressive cost cutting measures facilitated a return to profitability in the second quarter of 2020– Strong balance sheet with ample liquidity and $93.2 million in cash and cash equivalents– Declared a quarterly cash dividend of $0.20 per share\n HONG KONG, Aug. 05, 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 second quarter ended June 30, 2020. Second Quarter 2020 Financial Highlights Revenue of $16.4 million increased 10% compared to $14.9 million in the first quarter of 2020 and decreased 30% compared to $23.4 million in the second quarter of 2019.Operating income was $183,000 compared to a loss of $1.4 million in the first quarter of 2020 and a loss of $4,000 in the second quarter of 2019.Net income was $34,000, or break-even per diluted share, compared to a net loss of $573,000, or $0.05 per diluted share, in the first quarter of 2020 and net income of $397,000, or $0.04 per diluted share, in the second quarter of 2019.The number of Active Members1 decreased 4% to 54,370 at June 30, 2020 compared to 56,490 at March 31, 2020, and decreased 31% compared to 78,280 at June 30, 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. Year-to-Date 2020 Financial Highlights Revenue of $31.4 million decreased 27% compared to $42.8 million in the first six months of 2019.Operating loss was $1.3 million compared to a loss of $2.7 million in the first six months of 2019.Net loss was $539,000, or $0.05 per diluted share, compared to a net loss of $1.5 million, or $0.14 per diluted share, in the first six months of 2019. Management Commentary “The second quarter marked a continuation of the challenging macroeconomic climate we experienced during the first quarter of 2020 as the COVID-19 pandemic persisted into the summer months,” commented Chris Sharng, President of Natural Health Trends Corp. “We were very pleased with the stability and resilience of our field leadership which helped us generate a 10% sequential increase in our sec...