Business
Nature's Sunshine Reports Third Quarter 2020 Results
- Net Sales Increase 13% to a Company Record $100.3 Million - LEHI, Utah, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR)
About this update from Nature's Sunshine Products, Inc.
[{"type":"text","content":"- Net Sales Increase 13% to a Company Record $100.3 Million -\nLEHI, Utah, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (Nature’s Sunshine), a leading natural health and wellness company of high-quality herbal and nutritional products, reported financial results for the third quarter ended September 30, 2020.\n Third Quarter 2020 Financial Highlights vs. Same Year-Ago Quarter Net sales increased 13% to $100.3 million compared to $88.5 million.GAAP net income increased significantly to $7.2 million, or $0.34 per diluted share, compared to $1.4 million, or $0.07 per diluted share.Adjusted net income per diluted share was $0.34, compared to an adjusted net income per share of $0.08.Adjusted EBITDA increased 13% to $9.4 million compared to $8.3 million. Management Commentary “Strong consumer demand and new product launches accelerated our momentum in the U.S. and China, while COVID-19-related restrictions eased in Korea and Latin American markets, allowing us to more fully deploy our revamped field fundamentals,” said Terrence Moorehead, CEO of Nature’s Sunshine. “This combination resulted in the highest consolidated net sales quarter in our history, which flowed through to a more than four-fold increase in net income. The progress we have made with our transformation initiatives is only the beginning to unlocking the true potential of Nature's Sunshine's platform, and we believe we are taking the right steps to continue this momentum into the future.\" “During the third quarter, we officially launched our new business model and made further progress deploying our five global growth strategies. Our brand and business model relaunch aim is to respond to our customers’ needs and provide new opportunities for our consultants, health practitioners, and retailers to drive long-term, sustainable growth. We will continue to strengthen the transformation initiatives we have put in place and support our distributors as they make this transition along with us. We will also work to improve customer retention and engagement through additional investments in direct-to-consumer events and expanded customization offerings. Although we remain in a volatile operating environment, the progress we have made has established a strong operational and financial foundation for the remainder of 2020 and into 2021.” Third...