Natural Health Trends Corp. (NASDAQ: NHTC), a direct-selling and e-commerce company that markets under the NHT Global brand, recently announced its financial results for 2018.
For the fourth quarter ending December 31, 2018, total revenue was $41.6 million, decrease of 10 percent compared to $46.1 million in the fourth quarter of 2017, and a decrease of 12 percent compared to $47.0 million in the third quarter of 2018.
Revenue from the company’s Hong Kong operations, which represented 86 percent of total revenue, was $35.8 million, a decrease of 10 percent compared to $39.6 million in the fourth quarter of 2017. Revenue outside of Hong Kong of $5.8 million decreased 10 percent compared to $6.5 million in the fourth quarter of 2017.
For the full-year 2018, total revenue was $191.9 million, a decrease of 3 percent compared to $197.6 million in 2017.
“While 2018 was a challenging year, I’m very pleased with the ability of our company and members to navigate the difficult macroeconomic environment,” said Chris Sharng, president of Natural Health Trends Corp. “This unpredictable and challenging operating climate, driven by increased global trade tensions, China’s slowing economy and a weaker currency resulted in a decline in revenue. Notably, the Chinese Yuan’s depreciation of 10 percent against the Hong Kong dollar since February essentially made our products more expensive for our Chinese consumers in 2018. Without the impact of the Yuan devaluation, revenue for the full year of 2018 would have been flat with 2017.”
To read the Natural Health Trends Corp. 2018 financial report, click here.