Natural Health Trends Corp. announced an 18% decrease in third quarter revenue from the previous year’s quarter, down to $11.7 million from $14.3 million. Operating income in the third quarter of last year was $479,000 and $215,000 in the second quarter of this year, but the company endured an operating loss of $145,000 in Q3 2022.
Net income during the quarter was $47,000, compared to net income of $183,000 in the second quarter of 2022. The number of active members was down slightly (4%) consecutively and down 10% compared to the same quarter last year.
“Our third quarter results were adversely impacted by extended and ongoing COVID-related measures in China,” said Chris Sharng, President of Natural Health Trends Corp. “Despite the unpredictable environment our members must navigate through, they continue to work hard to share our superior health, wellness and beauty products and we continue to support them with new reward programs, virtual events, promotions and cautiously planned and executed incentive trips and trainings.”
The company’s balance sheet includes net cash of $5.8 million and cash and cash equivalents of $70.7 million.