Mannatech Inc., a Coppell, Texas-based health and wellness company, has announced financial results for its fourth quarter of 2017. Fourth quarter net sales for 2017 were $46.4 million, an increase of $3.8 million, or 8.9 percent, as compared to $42.6 million in the fourth quarter of 2016.
For the three months ended December 31, 2017, Mannatech’s operations outside of Americas accounted for approximately 67.5 percent of Mannatech’s consolidated net sales.
Asia-Pacific net sales increased by $4.8 million, or 20.9 percent, to $27.8 million, as compared to $23.0 million for the same period in 2016. Net sales comparisons for the fourth quarter were affected by the impact of fluctuations in foreign currency exchange rates. In constant dollars (a non-GAAP financial measure), fourth quarter 2017 net sales would have been $0.8 million lower, or $27.0 million. The currency impact was primarily due to the appreciation of the Korean Won and Australian Dollar, partially offset by the depreciation of the Japanese Yen.
Net sales for Europe, the Middle East and Africa (EMEA) increased by $0.1 million, or 2.9 percent, to $3.5 million, as compared to $3.4 million for the same period in 2016. In constant dollars (a non-GAAP financial measure), net sales for the fourth quarter 2017 would have been $0.2 million lower, or $3.3 million. The currency impact was primarily due to the appreciation of the Euro and South African Rand.
Net sales for North America and South America (the Americas) decreased by $1.1 million, or 6.8 percent, to $15.1 million, as compared to $16.2 million for the same period in 2016. In constant dollars (a non-GAAP financial measure), fourth quarter 2017 net sales would have remained the same at $15.1 million.
For the full year, overall net sales decreased $3.6 million, or 2.0 percent, for 2017, as compared to 2016. During 2017, fluctuations in foreign currency exchange rates had an overall favorable impact on net sales. During 2017, net sales declined 3.3 percent on a constant dollar basis (a Non-GAAP financial measure); favorable foreign exchange during 2017 caused an increase of $2.3 million.
Operations outside of the Americas accounted for approximately 63.7 percent of the company’s consolidated net sales, whereas in the same period in 2016, operations outside of the Americas accounted for approximately 61.1 percent of consolidated net sales.
Sales for the Americas decreased by $6.0 million, or 8.5 percent, to $64.2 million for 2017 as compared to $70.2 million for the same period in 2016. During 2017, Asia-Pacific sales increased by $2.6 million, or 2.7 percent, to $98.8 million, as compared to $96.2 million for 2016. During 2017, EMEA sales decreased by $0.2 million, or 1.4 percent, to $13.7 million, as compared to $13.9 million for 2016.
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