Business
Natural Health Trends Reports Second Quarter 2024 Financial Results
–Total net sales were flat compared to the second quarter of 2023; first year-over-year increase in Hong Kong net sales since the first quarter of 2023 –Cash
About this update from Natural Health Trends Corp.
[{"type":"text","content":" –Total net sales were flat compared to the second quarter of 2023; first year-over-year increase in Hong Kong net sales since the first quarter of 2023 –Cash flows from operations before 2017 Tax Act installment were positive for second consecutive quarter –Declared a quarterly cash dividend of $0.20 per share HONG KONG, July 31, 2024 (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, 2024. Second Quarter 2024 Financial Highlights Revenue of $10.5 million is unchanged compared to the second quarter of 2023. Operating loss improved to $238,000 compared to $743,000 in the second quarter of 2023.Net income was $173,000, or $0.02 per diluted share, compared to net loss of $219,000, or $0.02 per diluted share, in the second quarter of 2023.The number of Active Members1 was down 2% to 31,110 at June 30, 2024 compared to 31,620 at March 31, 2024, and decreased 15% compared to 36,730 at June 30, 2023. 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 2024 Financial Highlights Revenue of $21.4 million decreased 4% compared to $22.4 million in the first six months of 2023. Operating loss was $603,000 compared to $1.1 million in the first six months of 2023.Net income was $361,000, or $0.03 per diluted share, compared to $38,000, or breakeven per diluted share, in the first six months of 2023. Management Commentary “Our results indicate that the programs, promotions and incentives we’ve implemented this year have been effective and are performing as expected, maintaining engagement and driving customer satisfaction. We recognize that we’re still operating in a challenging environment, but believe we’re on the right track supporting our business and field leaders so they can find success. Our strong financial statements reflect positively on our ability to navigate the harder than expected business landscape by efficiently managing costs,” commented Chris Sharng, President of Natural Health Trends Corp. Mr. Sharng continued, “In the second half of the year we will continue to execut...