Nature’s Sunshine Products, Inc. (NASDAQ: NATR) reported its financial results for the fourth quarter ended December 31, 2018.
For the fourth quarter, net sales of $97.4 million increased 10.3 percent compared to $88.3 million in the fourth quarter of 2018. The increase was primarily related to growth in Synergy Asia Pacific, NSP Russia, Central and Eastern Europe and NSP China offset by a $3.3 million decline in net sales in NSP Americas and a $0.8 million decline in Synergy Europe.
“We concluded 2018 on a strong note, generating over 10 percent net sales growth during the fourth quarter,” said Terrence Moorehead, chief executive officer. “We are pleased with how our operations in China are developing and continue to invest ahead of the growth. NSP China net sales increased 60 percent during the fourth quarter and rose 46 percent for the full year. We also continue to have good momentum in Korea, the primary driver of the Synergy Asia region. As we progress in 2019, we are working to reinvigorate our NSP Americas region with multiple specific initiatives that support our strategic objectives to become more modern, more flexible and more profitable. We see further opportunity to generate growth and capture market share, while improving the profit profile of the organization with the ultimate goal of enhancing shareholder value.”
For the full-year 2018, net sales increased 6.7 percent to $364.8 million compared to $342.0 million in the year ended December 31, 2017. Growth was primarily related to continued growth in Synergy Asia Pacific, NSP Russia, Central and Eastern Europe and NSP China, offset by a $9.9 million decline in net sales in NSP Americas and a $3.2 million decline in Synergy Europe.
To read the full Nature’s Sunshine financial report, click here.