Business
Nature's Sunshine Reports Record Third Quarter 2021 Results
– Net Sales Increased 14% to $114.7 Million, Marking Fifth Consecutive Quarter of Record Net Sales – LEHI, Utah, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Nature’s
About this update from Nature's Sunshine Products, Inc.
[{"type":"text","content":"– Net Sales Increased 14% to $114.7 Million, Marking Fifth Consecutive Quarter of Record Net Sales –\nLEHI, Utah, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (Nature’s Sunshine), a leading natural health and wellness company, reported financial results for the third quarter ended September 30, 2021. Third Quarter 2021 Financial Summary vs. Same Year-Ago Quarter Net sales increased 14% to $114.7 million compared to $100.3 million.Net income was $5.5 million, or $0.24 per diluted share, compared to $7.2 million, or $0.34 per diluted share.Adjusted EBITDA increased 38% to $12.9 million compared to $9.4 million. Management Commentary “Once again, we delivered the largest sales quarter in the 49-year history of the company,” said Terrence Moorehead, CEO of Nature’s Sunshine. “Every market we operate in is growing and we see ample runway for continued expansion. We have witnessed a dramatic, fundamental change in Nature’s Sunshine’s business as our powerful global growth strategies take effect. In fact, the investments we’ve made to re-brand, sharpen our sales fundamentals, and revamp our website contributed to broad customer and sales growth during the quarter. “From a supply chain perspective, we used our strong balance sheet to increase product availability and leveraged our in-house production capabilities to be more agile to our customers’ needs. We are confident this strategy will better position us to satisfy demand in a timely manner. “As we look to the final quarter of the year, I’m proud of our team’s execution of our transformation initiatives. While external challenges remain across the globe, our brand momentum, our investments in growth initiatives and our strong balance sheet position us well to continue to drive shareholder value.” Third Quarter 2021 Financial Results Net Sales by Operating Segment (Amounts in Thousands) Three Months EndedSeptember 30, 2021 Three Months EndedSeptember 30, 2020 PercentChange Impact ofCurrencyExchange PercentChangeExcludingImpact ofCurrencyAsia$48,417 $38,099 27.1% $1,165 24.0%Europe21,813 18,006 21.1 105 20.6 North America37,738 37,557 0.5 151 0.1 Latin America and Other6,778 6,588 2.9 130 0.9 $114,746 $100,250 14.5% $1,551 12.9% Net sales in the third quarter increased 14.5% to a company record of $114.7 million compared to $100.3 million in the ye...