After posting record revenue for 2015, Natural Health Trends Corp. (NHTC—NASDAQ) said sales were up 83 percent in the first quarter of 2016.
Quarterly revenue of $74.3 million is in line with management’s earnings preview, released earlier this month. Despite a presence in more than 40 markets, the Dallas-based company does most of its business in Hong Kong, which accounted for 92 percent of quarterly sales.
“Our positive momentum continued with a strong start to 2016,” said company President Chris Sharng. “The double-digit increase in revenue growth for the quarter was driven by our emphasis on leadership programs, product development and promotional incentives.”
Earnings were 95 cents a share on income of $11.3 million, compared to 54 cents a share, or $6.7 million, in the first quarter of 2015. Income reflects a $2.4 million tax provision for expected partial repatriation of profits from international operations.
Management said the number of Active Members purchasing the company’s wellness and personal-care products rose to 119,800, up 10 percent from the end of 2015.