Health and wellness company Nature’s Sunshine Products reported a loss of $6.7 million in the fourth quarter.
The results compare to a profit of $3.7 million a year earlier. Management said the loss was driven by infrastructure expenses and an inventory write-down related to China, as the company faces delays and uncertainty in entering the market. For the year, Nature’s Sunshine Products (NSP) recorded a profit of $2.1 million, or 11 cents a share.
“While our 2016 financial results have been constrained by the infrastructure built in anticipation of a future market opportunity, we remain steadfast in our belief that the investments are prudent given the potential opportunity that lies ahead of us should the regulatory process in China be completed,” said Gregory L. Probert, NSP Chairman and CEO.
In the fourth quarter, revenue climbed 5 percent to $84.0 million as the Synergy Asia Pacific segment logged 14 percent growth over the prior year. The quarterly loss amounted to 35 cents a share.
Full-year revenue also rose 5 percent, amounting to $341.2 million. The company’s nutrition and personal-care products are sold in more than 40 countries worldwide.
