Mannatech released its fourth quarter of 2021 financial results, revealing a slight increase over the previous quarter, totaling $39.5 million. Operating income in the fourth quarter was $1 million. This is a significant improvement over the same quarter of 2020, which saw an operating loss of $11,000.
Net income in the fourth quarter of 2021 was $2.6 million, or $1.25 per diluted share, compared to a net income of $0.7 million ($0.34 per diluted share) for the fourth quarter of 2020. Gross profit as a percentage of net sales improved to 77.5% in the quarter.
Overall selling and administrative expenses increased during the quarter to $7.6 million, while commissions as a percentage of net sales were 38.3%. Recruiting during the fourth quarter decreased 8.2% as compared to the same quarter in 2020. New independent associate and preferred customer positions numbers were down from 19,675 in the fourth quarter of 2020 to 18,052 in the fourth quarter in 2021.
For the full year, overall selling and administrative expenses increased 5.7% to $29.4 million. Gross profit as a percentage of sales in 2021 improved to 78.6% as compared to 76.5% in 2020.
The company’s cash and cash equivalents increased by 8.9% ($2 million) to $24.2 million at year-end 2021.