Business
Nature's Sunshine Reports Fourth Quarter and Full Year 2022 Financial Results
LEHI, Utah, March 15, 2023 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (“Nature’s Sunshine” and/or the “Company”), a leading natural
About this update from Nature's Sunshine Products, Inc.
[{"type":"text","content":"LEHI, Utah, March 15, 2023 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (“Nature’s Sunshine” and/or the “Company”), a leading natural health and wellness company of premium-quality herbal and nutritional products, reported financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights vs. Same Year-Ago Quarter Net sales were $102.7 million compared to $117.9 million (down 6.4% in constant currency).GAAP net income was $2.1 million, or $0.10 per diluted share, compared to $13.8 million, or $0.67 per diluted share.Adjusted EBITDA was $8.0 million compared to $11.6 million. Full Year 2022 Financial Highlights vs. 2021 Net sales were $421.9 million compared to $444.1 million (up 0.2% in constant currency).GAAP net income was $0.6 million, or $(0.02) per diluted share, compared to $30.2 million, or $1.42 per diluted share.Adjusted EBITDA was $32.0 million compared to $49.4 million. Management Commentary “During the fourth quarter, we continued to see the underlying fundamentals of our business hold, despite unprecedented pressure from external headwinds,” said CEO Terrence Moorehead. “For the quarter, we delivered sales of $103 million on a reported basis, or $110 million when removing the impact of foreign exchange, which is resilient considering last year’s record-breaking sales growth. For the full year, we delivered the second highest sales in the company’s history, driven by strong returns on our targeted investments designed to optimize our business. In fact, we continued to see strong growth in Asia, up 5.3% versus prior year, as our investments in field activation supported healthy growth in orders and sales. “As we look to 2023, we remain confident that our growth strategies will allow Nature’s Sunshine to gain market share and be better positioned for the future. Consistent with these objectives, we will continue to prioritize investments in digital, field activation, manufacturing efficiency, and brand-building to enhance the customer experience. As such, we look forward to driving measurable growth in 2023.” Fourth Quarter 2022 Financial Results Net Sales by Operating Segment (Amounts in Thousands) Three Months EndedDecember 31, 2022 Three Months EndedDecember 31, 2021 PercentChange Impact ofCurrencyExchange PercentChangeExcludingImpact ofCur...