Natural Health Trends Corp. announced its financial results for the second quarter of 2024, reporting flat net sales and revenue of $10.5 million, a total that is unchanged from the second quarter of 2023. Operating loss for the quarter improved to $238,000 from $743,000 in the same quarter last year. Net income was $173,000, or $0.02 per diluted share, compared to a Q2 2023 net loss of $219,000 and $0.02 per diluted share. Active Member numbers were also down 2% sequentially and down 15% year over year.
Year-to-date revenue was $21.4 million, down 4% from $22.4 million in the first six months of 2023. Net income for the first six months of 2024 was $361,000, or $0.03 per diluted share, compared to $38,000, or breakeven per diluted share, in the first half of 2023.
“Our results indicate that the programs, promotions and incentives we’ve implemented this year have been effective and are performing as expected, maintaining engagement and driving customer satisfaction,” said Chris Sharng, Natural Health Trends Corp. President. “We recognize that we’re still operating in a challenging environment, but believe we’re on the right track supporting our business and field leaders so they can find success. Our strong financial statements reflect positively on our ability to navigate the harder than expected business landscape by efficiently managing costs. In the second half of the year, we will continue to execute our strategic plans with an emphasis on comprehensive training, collaborative coordination between our staff, field leaders and members, and implementation of brand building initiatives to take advantage of market opportunities.”
The company ended the quarter with total cash, cash equivalents and marketable securities of $48.7 million, down from $54.4 million in the first quarter of 2024.
