Mannatech Inc. (MTEX—NASDAQ) on Tuesday said its bottom line decreased in the first quarter from a year earlier.
The maker of health and wellness products reported quarterly earnings of $0.6 million, or 21 cents per share, compared to $1.1 million, or 40 cents per share, in the first quarter of 2015.
Due in part to currency pressures, revenue was down across all regions. When measured by the dollar, revenue fell 6 percent in Asia-Pacific, 8 percent in EMEA (Europe, the Middle East and Africa), and 12 percent in the Americas.
Overall in the quarter, revenue decreased 8 percent to $40.7 million, versus $44.4 million a year ago. The results were cut by $2.1 million as a result of unfavorable exchange rates.
Management said recruiting of independent Associates slowed by 7 percent on a year-over-year basis, with a 16 percent jump in EMEA offset by declines in Asia-Pacific.
In 2015, Mannatech sales slipped 5.2 percent to $180.3 million, placing the company at No. 71 on the DSN Global 100, an annual ranking of the top companies in direct selling.