Business
Natural Health Trends Reports Third Quarter 2022 Financial Results
More COVID restrictions and lockdowns in China adversely impacted our businessStrong cost control helped protect earningsDeclared a quarterly cash dividend of
About this update from Natural Health Trends Corp.
[{"type":"text","content":"More COVID restrictions and lockdowns in China adversely impacted our businessStrong cost control helped protect earningsDeclared a quarterly cash dividend of $0.20 per share HONG KONG, Nov. 02, 2022 (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 September 30, 2022. Third Quarter 2022 Financial Highlights Revenue of $11.7 million decreased 12% compared to $13.4 million in the second quarter of 2022 and decreased 18% compared to $14.3 million in the third quarter of 2021. Operating loss was $145,000 compared to operating income of $215,000 in the second quarter of 2022 and operating income of $479,000 in the third quarter of 2021. Net income was $47,000, or breakeven per diluted share, compared to net income of $183,000, or $0.02 per diluted share, in the second quarter of 2022 and net income of $471,000, or $0.04 per diluted share, in the third quarter of 2021. The number of Active Members1 decreased 4% to 41,170 at September 30, 2022 compared to 43,020 at June 30, 2022, and decreased 10% compared to 45,950 at September 30, 2021. 1Natural 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 2022 Financial Highlights Revenue of $36.6 million decreased 17% compared to $43.9 million in the first nine months of 2021. Operating loss was $313,000 compared to operating income of $1.1 million in the first nine months of 2021. Net income was $125,000, or $0.01 per diluted share, compared to $853,000, or $0.07 per diluted share, in the first nine months of 2021. Management Commentary “Our third quarter results were adversely impacted by extended and ongoing COVID-related measures in China,” commented Chris Sharng, President of Natural Health Trends Corp. “Despite the unpredictable environment our members must navigate through, they continue to work hard to share our superior health, wellness and beauty products and we continue to support them with new reward programs, virtual events, promotions and cautiously planned and executed incentive trips and trainings.” Mr. Sharng continued, “We recently kic...