Mannatech Inc. (MTEX—NASDAQ) on Tuesday reported that quarterly income fell to $100,000, or 3 cents per share, from $5.1 million in the prior year.
The Coppell, Texas-based company said revenue was $43.9 million, slipping from $46.7 million last quarter and down 21.2 percent from a year ago. The year-over-year comparison suffered from the international launch of Mannatech’s U[th] skincare line in the third quarter of 2014, as well as the impact of currency exchange rates. Excluding currency fluctuations, revenue totaled $48.2 million.
Markets outside North America generated 59 percent of consolidated revenue. In the Asia-Pacific region, which accounted for half of total sales, revenue was down 27 percent to $22.0 million. Europe, Middle East and Africa (EMEA) posted a 16 percent decrease with revenue of $4.1 million, while North America revenue dipped 13 percent to $17.8 million.
Recruiting activity also slowed, with the number of new independent sellers dropping 18.8 percent. The company closed out the quarter with $35.3 million in cash, reflecting a year-to-date increase of $7.3 million.