Mannatech Inc., the Coppell, Texas-based health and wellness company, announced financial results for the first quarter of 2017. For the three months ended March 31, net sales were $40.6 million, a decrease of $0.1 million, or 0.2 percent as compared to $40.7 million in the first quarter of 2016.
Mannatech’s operations outside of the Americas accounted for approximately 61.8 percent of Mannatech’s consolidated net sales.
Asia-Pacific net sales increased by $0.5 million, or 2.3 percent, to $21.9 million, as compared to $21.4 million for the same period in 2016. This increase was primarily due to a 7.9 percent increase in the number of active independent associates and members, partially offset by a 5.1 percent decrease in revenue per active independent associate and member. Foreign currency exchange had the effect of increasing revenue by $0.7 million for the three months ended March 31, 2017, as compared to the same period in 2016. The currency impact is primarily due to the strengthening of the Korean Won, Australian Dollar, Japanese Yen, Taiwanese Dollar, New Zealand Dollar, and Hong Kong Dollar, partially offset by the weakening of the Singapore Dollar and Chinese Yuan (Renminbi).
Net sales for Europe, the Middle East and Africa (EMEA) decreased by $0.1 million, or 3 percent, to $3.2 million, as compared to $3.3 million for the same period in 2016. This decrease was primarily due to a 0.2 percent decrease in the number of active independent associates and members as well as a 2.9 percent decrease in revenue per active independent associate and member. Foreign currency exchange had the effect of increasing revenue by $0.3 million when the three-month period ending March 31, 2017, is compared to the same period in 2016. The currency impact is primarily due to the strengthening of the South Africa Rand, partially offset by the weakening of the British Pound.
Net sales in the Americas decreased by $0.5 million, or 3.1 percent, to $15.5 million, as compared to $16.0 million for the same period in 2016. This decrease was primarily due to a 7.7 percent decline in the number of active independent associates and members, partially offset by a 4.9 percent increase in revenue per active independent associate and member.
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Mannatech was No. 73 on this year’s DSN Global 100 ranking of the top direct selling companies in the world. The company reported earnings of $180 million for 2016.
LifeVantage Reports 20% Decrease for Quarter
Sandy, Utah-based LifeVantage Corp. announced financial results for its third quarter ended March 31, 2017. The company reported revenue of $45.0 million, a 19.9 percent decrease compared to $56.2 million for the comparable period in fiscal 2016.
Year-over-year quarterly revenue reflects a decrease of 21.9 percent in the Americas and a 12.5 percent decrease in the Asia-Pacific & Europe region. Revenue in the company’s United States and Hong Kong markets decreased for the third quarter of fiscal 2017 as the company continued to take steps to help ensure that its products are not distributed or sold into countries without complying with applicable customs, tax and other regulatory requirements and to appropriately verify the residency of individuals who want to become independent distributors. Revenue for the third fiscal quarter was positively impacted $0.1 million, or 0.2 percent, by foreign currency fluctuations associated with revenue generated in several international markets.
“We began to see the turn in sequential sales momentum as the third quarter progressed,” said LifeVantage President and CEO Darren Jensen. “While sales were negatively impacted early in the quarter, we finished the third quarter with reaccelerating sales growth as we were finalizing the implementation of remedies relating to a recent review of international policies and procedures. We enter the fourth quarter with renewed business momentum and completed a successful global convention in April that included our rebranding of several key product lines, the introduction of product bundles that deliver greater value for customers and distributors, and integrated applications and technology solutions that were well received by distributors. Finally, we are progressing with plans to broaden our geographical footprint, and look forward to discussing specific activities to support this growth as the plan progresses.”
For the nine months ended March 31, 2017, LifeVantage reported net revenue of $148.8 million, a decrease of 3.0 percent compared to $153.5 million for the first nine months of fiscal 2016. In the first nine months of fiscal 2017, revenue in the Americas decreased 5.6 percent, while revenue in Asia-Pacific & Europe increased 5.8 percent. Revenue for the first nine months of fiscal 2017 was positively impacted $3.5 million, or 2.3 percent, by foreign currency fluctuations associated with revenue generated in several international markets.
To see the full LifeVantage report, click here.
LifeVantage was No. 68 on this year’s DSN Global 100 ranking of the top direct selling companies in the world. The company reported earnings of $207 million for 2016.
