Business
Natural Health Trends Reports Second Quarter 2023 Financial Results
–Total orders taken were roughly flat despite stronger U.S. dollar, Hong Kong orders increased 5% year-over-year –Cash flows from operations before tax
About this update from Natural Health Trends Corp.
[{"type":"text","content":" –Total orders taken were roughly flat despite stronger U.S. dollar, Hong Kong orders increased 5% year-over-year –Cash flows from operations before tax installment payment was positive, an improvement from the first quarter –Declared a quarterly cash dividend of $0.20 per share HONG KONG, Aug. 02, 2023 (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 quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights Revenue of $10.5 million decreased 21% compared to $13.4 million in the second quarter of 2022. The decrease in revenue was primarily due to the changes in deferred revenue in the two respective quarters. Deferred revenue increased $1.2 million in the second quarter of 2023 but decreased $1.4 million in the same quarter last year, accounting for $2.6 million of the $2.8 million revenue variance.Operating loss was $743,000 compared to operating income of $215,000 in the second quarter of 2022.Net loss was $219,000, or $0.02 per diluted share, compared to net income of $183,000, or $0.02 per diluted share, in the second quarter of 2022.The number of Active Members1 was down 4% to 36,730 at June 30, 2023 compared to 38,330 at March 31, 2023, and decreased 15% compared to 43,020 at June 30, 2022. 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 2023 Financial Highlights Revenue of $22.4 million decreased 10% compared to $24.9 million in the first six months of 2022. The revenue decrease was primarily due to the changes in deferred revenue in the two respective six-month periods. Deferred revenue increased $1.3 million in 2023 but decreased $1.8 million in the same period a year ago, resulting in a $3.1 million revenue variance.Operating loss was $1.1 million compared to $168,000 in the first six months of 2022.Net income was $38,000, or breakeven per diluted share, compared to $78,000, or $0.01 per diluted share, in the first six months of 2022. Management Commentary “Despite tepid consumer sentiment in post zero-Covid China, we were able to generate orders roughly comparable to ...