Mannatech Releases 2Q Results

by louabbott on August 6, 2009

Trading Markets – Published Aug 06, 2009

Mannatech, Inc., a developer and provider of proprietary nutritional supplements, weight management products and skin care solutions, has reported a net loss of $5.5 million or $0.21 per diluted share for the second quarter ending June 30, compared to a net loss of $10.5 million or $0.40 per diluted share for the second quarter of 2008.

In a release on August 4, the Company noted that operating results were negatively impacted by higher commissions paid due to several bonus types associated with the volume of units sold of the new $499 Premium/All-Star Pack and continuing unfavorable foreign currency exchange.

Second quarter net sales for 2009 were $77.6 million, a decrease of 10.5 percent, compared to $86.8 million in the second quarter of 2008. North American declined 11.6 percent compared to the second quarter of 2008. International sales decreased 9.1 percent for the second quarter of 2009 compared to the second quarter of 2008, partially due to the negative impact of a stronger U.S. dollar in the second quarter compared to the second quarter of 2008. The stronger U.S. dollar negatively impacted international sales by $3.8 million. However, sales grew by $6.9 million, a 9.8 percent increase compared to the first quarter of 2009.

Read the entire article at Trading Markets

Also, read our company overvierw:  Mannatech Facts, News and Review

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