Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Mannatech Q2 sales improve

This article was originally published in The Tan Sheet

Executive Summary

Multi-level marketer Mannatech's sales for the first half of 2009 were $148.3 million, 16.8 percent down from a year ago, the Coppell, Texas-based firm reports in its Aug. 4 second-quarter earnings call. However, sales for the quarter grew $6.9 million over a year ago, a 9.8 percent increase. Net sales for the quarter were $77.6 million, a 10.5 percent decrease versus the comparative 2008 quarter when net sales were $86.8 million. The firm reported a net loss of $5.5 million or 21 cents per diluted share for the three months ended June 30, down from $10.3 million in Q2 of 2008. President and CEO Wayne Badovinus said the firm's international sales experienced a negative impact of $3.8 million through currency exchange. He added earnings fell due to costs associated with the firm's 2009 launch of a $499 reduced-price product pack, which has aided recruiting. "We believe these short-term costs, although higher than anticipated, should generate long-term volume and profit growth," he said
Advertisement
Advertisement

Topics

Advertisement
UsernamePublicRestriction

Register

PS103213

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel