Financial results for the first quarter of 2017 are in for Natural Health Trends Corp., the Rolling Hills Estates, California-based direct selling and e-commerce company that markets premium quality personal -care, wellness and “quality of life” products under the NHT Global brand.
Total revenue for the quarter decreased 19 percent to $59.9 million, compared to $74.3 million in the first quarter of 2016. Revenue from the company’s primary market of Hong Kong, which represented 91 percent of total revenue, decreased 20 percent to $54.6 million, compared to $68.2 million in the first quarter of 2016.
Outside of Hong Kong, revenue in China decreased 47 percent year-over-year; however, that was offset by increases in North America and Europe of 37 percent and 297 percent year-over-year, respectively.
Operating income decreased 7 percent to $13.0 million, compared to $14.0 million in the first quarter of 2016. As a percent of total revenue, operating income was 21.7 percent, compared to 18.8 percent in the first quarter of 2016. Net income was $10.4 million, or 93 cents per diluted share, compared to $11.3 million, or 95 cents per diluted share, in the first quarter of 2016.
The number of Active Members1 decreased 4 percent to 113,710 at March 31, 2017, compared to 118,960 at Dec. 31, 2016, and decreased 5 percent compared to 119,800 at March 31, 2016.
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Natural Health Trends placed No. 54 in last month’s DSN Global 100 ranking of the top direct selling companies in the world. The company reported $288 million in earnings for 2016.