Nature’s Sunshine Products, Inc. (NASDAQ: NATR) reported net sales of $90.7 million for the second quarter ended June 30, 2019.
The $90.7 million was a decrease of 0.6 percent from the second quarter of 2018 for the Lehi, Utah-based direct seller, a leading natural health and wellness company engaged in the manufacture and sale of nutritional and personal care products.
“We’re about three months into our transformation and are pleased with the progress we’re seeing,” said Terrence Moorehead, president and chief executive officer. “It’s still early, but the business is performing in line with expectations, delivering strong second quarter growth in net income and adjusted EBITDA, as a direct result of our strategic restructuring initiatives.”
According to Moorehead, net sales were relatively flat versus prior year despite double-digit growth in Europe and 4 percent plus growth in Asia, excluding impact of foreign currency. Continued softness in North America and the disruption of sales in China, from the government’s 100-Day review of the direct selling industry, were the key factors inhibiting top-line performance.
“To support top-line growth and drive market penetration, we recently launched a new regional leadership structure designed to build regional capabilities and intensify our consumer focus,” Moorehead said. “We’re also finalizing launch plans for our five growth strategies and will start phasing them in later this year. As a result, we believe we’re well positioned to drive improved performance and shareholder value for the year.”
For the first six months of 2019, the company has reported net sales of $182.0 million, an increase of 1.9 percent compared to $178.6 million in the six months ended June 30, 2018.
To read the full Nature’s Sunshine Q2 2019 financial report, click here.