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Nature’s Sunshine Products, Inc. (NASDAQ: NATR reported financial results for the third quarter ended September 30, 2018.
Net sales of $88.8 million decreased 0.5 percent compared to $89.3 million in the third quarter of 2017. On a local currency basis, net sales decreased 0.4 percent compared to 2017. The decline was primarily related to $2.8 million decline in net sales in NSP Americas and a $1.2 million decline in Synergy Europe, partially offset by growth in Synergy Asia Pacific, NSP Russia, Central and Eastern Europe and NSP China.
“We continued to enjoy positive sales trends in China, Synergy Asia and Russia, Central and Eastern Europe,” said Terrence Moorehead, chief executive officer. “However, this growth was offset by declines in NSP America and Synergy Europe and Americas during the third quarter, which contributed to the modest decline in consolidated net sales. We remain pleased with the market development in China and sales momentum in Korea continues to drive Synergy Asia. In NSP Americas, where our model is more mature and grounded in retailing, sales moderation largely reflects ongoing distributor attrition and the less vibrant nutritional supplement retailing environment in the United States. Looking forward, my initial priorities are to evaluate our opportunities to further build the business while driving profitable growth and shareholder value.”
For the nine months ended September 30, 2018, net sales increased 5.4 percent to $267.4 million compared to $253.7 million in the nine months ended September 30, 2017.
To view the complete Nature’s Sunshine Q3 2018 financial report, click here.