Natural Health Trends Corp. (NASDAQ: NHTC) announced its financial results for the fourth quarter and full year ended December 31, 2019.
The company, a direct-selling and e-commerce company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, reported revenue of $17.8 million decreased 57 percent compared to $41.6 million in the fourth quarter of 2018. Revenue increased 5 percent compared to $17.0 million in the third quarter of 2019.
For the full-year 2019, revenue of $77.6 million decreased 60 percent compared to $191.9 million in 2018.
“2019 was a challenging year for our business amid a host of macroeconomic and industry-specific factors that created a highly difficult operating environment,” commented Chris Sharng, president of Natural Health Trends Corp. “In addition to China’s 100-day campaign announced last January and negative sentiment stemming from social media as it relates to health products companies in China, additional developments such as ongoing global trade tensions, China’s slowing economy and civil unrest in Hong Kong further contributed to the decline in revenue for 2019.”
Sharng further commented, “While our first quarter results are typically affected by the Chinese New Year, the coronavirus outbreak and the unprecedented measures to control it are posing further challenges to the market. Following the extended Chinese New Year holidays, we plan to rely on product promotions and webcast training to overcome physical restrictions. We are continuing to monitor the evolving situation closely and will adapt our marketing programs accordingly. Looking ahead, we have implemented a strategy to more effectively manage elements within our control including ensuring our incentives remain attractive to our leaders and member base; continuing to expand our operations into new geographies; and reducing our cost structure. To that end, we expect to achieve annualized cost savings of approximately $6.5 million in 2020.”
To read the complete Natural Health Trends Corp. financial report, click here.
