Business
Nature’s Sunshine Reports Second Quarter 2020 Results
LEHI, Utah, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nature’s Sunshine) (NASDAQ: NATR), a leading natural health and wellness
About this update from Nature's Sunshine Products, Inc.
[{"type":"text","content":"LEHI, Utah, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nature’s Sunshine) (NASDAQ: NATR), a leading natural health and wellness company, reported financial results for the second quarter ended June 30, 2020.\n Second Quarter 2020 Financial Summary vs. Same Year‐Ago Quarter Net sales were $87.3 million compared to $90.7 million.GAAP net income increased significantly to $6.1 million, or $0.29 per diluted share, compared to $2.6 million, or $0.14 per diluted share. Adjusted net income per diluted share was $0.28, compared to an adjusted net income per diluted share of $0.15.Adjusted EBITDA increased 21% to $9.7 million compared to $8.0 million. Management Commentary “Throughout the second quarter, we continued to navigate the dynamic effects that the COVID-19 pandemic has had on our global markets,” said Terrence Moorehead, CEO of Nature’s Sunshine. “Despite mandated lockdowns across many of our geographies during the quarter, our NSP business returned to revenue growth in two key markets—the U.S. and China. In addition, our commitment to streamlining processes and prudently managing expenses through our ‘Right Stuff’ strategy has helped us deliver significant consolidated net income and adjusted EBITDA growth. I am proud of our global team’s continued hard work and adaptability during this unprecedented time. “We are continuously adapting to changes in consumer behavior across our business. Demand for our products surged following the onset of the pandemic in mid-March, especially for our immune product line. While the increased demand slowed temporarily in April through mid-May, buying patterns soon stabilized and even accelerated for the remainder of the quarter, potentially signaling a long-term trend towards continued expansion and better engagement with the health-conscious consumer. “Looking ahead, we will continue building upon the strong operational foundation we are putting in place with our five global growth strategies, which we call ‘The Fab Five.’ These constitute our key areas of operational focus as we prepare for the launch of our revamped business model in the third quarter. Our revitalized go-to-market plan will enhance our customer and distributor experience by improving our brand presence, including the launch of a revamped consumer-facing e-commerce website, expanding our digital and ...