Nature’s Sunshine Products Inc. (NATR—NASDAQ) on Monday reported second-quarter net sales revenue of $89.4 million, up 10 percent compared to sales of $81.2 million in the second quarter a year ago.
This marks the eighth consecutive quarter of net sales growth for the company’s operations in the U.S. and Canada.
The natural health and wellness company said it recorded net income of $2.4 million for the quarter, or 14 cents per common diluted share. On a local currency basis, net sales revenue jumped 11.5 percent.
The Lehi, Utah-based company’s Synergy Asia division delivered 28.5 percent local currency growth in the second quarter.
Unfavorable currency exchange rates caused a negative impact of $1.3 million on net sales revenue. The company also saw sales decline in NSP Russia and its Central and Eastern European segments.
For the first half of 2016, net sales revenue hit $171.8 million, up 4 percent from $165.1 million compared to the first six months of 2015. The growth is driven by an $8.9 million or 23.7 percent increase in Synergy Asia and incremental net sales revenue increase of $4.4 million related to sales through Hong Kong.
Net income for the first six months of 2016 is $4.2 million or 24 cents per diluted common share.
Chairman and CEO Gregory Probert says, “Sustained local currency growth in both NSP United States and NSP Canada continues to reflect the strong foundation within our most mature markets and is a reflection of our high quality products and effective business model. The improvements we have put in place at Synergy WorldWide are delivering strong results across all geographical regions.”
Probert is optimistic about its new market opportunity in China and remains encouraged by the success of Nature’s Sunshine’s patent-pending IN.FORM weight-loss and daily habit of health program.
Nature’s Sunshine shares have risen 25 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.66, a decrease of 2 percent in the last 12 months.