Reliv International, Inc. (NASDAQ: RELV) recently reported its financial results for the first quarter of 2019.
Net sales of $9.5 million for the quarter compared with net sales of $10.0 million in the first quarter of 2018. Net sales in the United States decreased to $7.1 million in the first quarter of 2019, which represented a 7.3 percent decline in net sales when compared to the prior-year quarter. Net sales in Reliv’s foreign markets increased 1.9 percent in the first quarter of 2019 compared with the prior-year first quarter. Increases in net sales in Asia and Mexico were 57.9 percent and 27.1 percent, respectively, in the first quarter of 2019, offset by a decrease in net sales in Europe of 19.4 percent, along with decreases in other regions.
On January 1, 2019, Reliv entered into a purchase agreement with Nutracom, LLC that included the sale of its manufacturing equipment and most of its raw material inventory. In addition to the purchase agreement, Reliv entered into several other agreements with Nutracom, including a product supply agreement and a lease agreement, under which Nutracom will lease the manufacturing and warehouse space of Reliv’s headquarters building, along with a portion of the office space.
“We believe 2019 represents a year of innovation and growth,” commented Ryan A. Montgomery, chief executive officer. “With our agreement with Nutracom and the Hastings family to operate the production facility, Reliv continues to enjoy the same high level of service, quality control, flexibility and efficiencies prior to the transition, but it allows us to focus solely on our core business—providing an outstanding line of nutritional supplements through our independent distributors. We look forward to a number of transformational changes to Reliv this year, including a new product line on the horizon.”
To read the complete Reliv Q1 2019 financial report, click here.
