Natural Health Trends Corp. (NHTC—NASDAQ), a marketer of personal-care and wellness products under the NHT Global brand, has logged another quarter of double-digit revenue growth.
In the quarter ended June 30, 2016, revenue climbed to $80.4 million, up 15 percent from the prior-year period. The California-based company does the bulk of its business in Hong Kong, where revenue was up 13 percent to $73.3 million. Outside Hong Kong, revenue rose 43 percent to $7.0 million, compared to $4.9 million a year earlier.
Earnings slipped to $12.2 million, or $1.07 a share, from $12.3 million, or 98 cents a share, in the second quarter of 2015. Income reflects a $2.4 million tax provision for expected partial repatriation of profits from international operations. Excluding the tax, income increased 19 percent to $14.6 million, or $1.29 a share.
The company said it repurchased $23.7 million of its common stock in the first half of 2016.
“Through our strong cash generation, we are very well positioned to grow our business organically while simultaneously returning value to our stockholders through quarterly cash dividends and execution on our $70 million stock repurchase program,” said Chris Sharng, President of Natural Health Trends Corp.
On July 19, 2016, the board of directors authorized a dividend payout of 7 cents a share on the company’s outstanding common stock, upping the previous quarter’s dividend by 17 percent.