Natural Health Trends Corp. (NASDAQ: NHTC) today announced its financial results for the third quarter ended September 30, 2018.
Total revenue of $47.0 million increased 17 percent compared to $40.1 million in the third quarter of 2017, and decreased 8 percent compared to $50.9 million in the second quarter of 2018.
Revenue from the company’s Hong Kong operations, which represented 88 percent of total revenue, was $41.4 million, an increase of 18 percent compared to $35.0 million in the third quarter of 2017. Revenue outside of Hong Kong of $5.6 million increased 10 percent compared to $5.1 million in the third quarter of 2017.
For the year, total revenue of $150.3 million decreased 1 percent compared to $151.5 million in the first nine months of 2017.
“Despite a generally difficult trading environment, our performance in the third quarter was driven by the momentum we created since the beginning of the year,” said Chris Sharng, president of Natural Health Trends. “So far in 2018, both a rapidly depreciating Chinese yuan, down 10 percent since February, and the seasonality associated with the summer months, contributed to an 8 percent decline in our revenue from the second quarter to the third quarter this year. Without the adverse effect of the yuan devaluation, our third quarter revenue would have been flat with the second quarter. While we have no control over these conditions, I believe we have been doing a good job navigating in an increasingly difficult and unpredictable setting.”
To view the full Natural Health Trends Q3 2018 report, click here.