Tag Archive for Mannatech

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Mannatech Expanding With Thailand Office

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Mannatech, Incorporated (NASDAQ: MTEX), a leading global health and wellness company committed to transforming lives through Glycan technology, is thrilled to announce a significant milestone in its expansion efforts. With a steadfast commitment to empowering individuals and communities through innovative health solutions, Mannatech is excited to announce its continued expansion into the ASEAN region, with the official launch into the Thailand market.
This opening will bring Mannatech’s global presence to 26 markets.
Landen Fredrick, President and CEO, said:

“Existing and future Mannatech Associates eagerly anticipate the official launch in Thailand on June 17, 2024. During the soft opening, individuals will be able to register as Mannatech Associates.
Additionally, we will launch Luminovation™ skin care, our premier K-Beauty line. This marks the initial step towards establishing a robust presence in the region, laying the groundwork for the future. This new market launch signifies a momentous occasion for Mannatech and its dedicated Associates.
Mannatech’s expansion into Thailand is our first new market in several years and provides an exciting opportunity to introduce our products to a new country and culture. The opening team, led by Roh Jae-hong, Mannatech Korea’s general manager, has conducted extensive market research, and worked tirelessly to prepare for this launch. We are

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Mannatech Announces Retirement Of Al Bala

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Landen Fredrick Promoted To President And CEO
Mannatech, Incorporated (NASDAQ: MTEX) reported that Alfredo (Al) Bala, announced his retirement as the company’s CEO effective April 1, 2024.
J. Stanley Fredrick, Chairman of the Board of Mannatech, Incorporated stated,

“Al will continue to serve the company as an advisor focused on customer acquisition and sales growth. This transition enables Al to work more closely with our associates in the field which has always been his first love.
In this new role, Al will also focus on field and leadership development, leveraging his 43 years of experience in direct sales at both the field and corporate level helping to create and develop programs dedicated to growing people and sales.”

Mr. Fredrick further stated,

“Coinciding with Al’s retirement, I am pleased to announce the promotion of Landen Fredrick to the position of President and CEO. Landen’s succession to the CEO position was made possible by Al’s mentorship over the past few years where Landen served as President and Chief Operating Officer.
As CEO, Landen will oversee the senior executive team and the team of general managers over our international markets, driving operational excellence, and executing the company’s strategic initiatives.”

Tyler Rameson, a member of Mannatech’s Board of Directors, and

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Mannatech Reports Q2 2023 Net Sales of $32.6 Million

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Mannatech Incorporated, a global health and wellness company committed to transforming lives to make a better world, recently announced financial results for its second quarter of 2023.
Second Quarter End Results
Second quarter net sales for 2023 were $32.6 million, a decrease of $2.4 million, or 6.8%, as compared to $35.0 million in the second quarter of 2022. Our net sales decreased 4.0% on a constant dollar basis (see Non-GAAP Measures, below) as foreign exchange decreased GAAP net sales by $1.0 million, mostly due to the decline of the Korean Won and Japanese Yen.
Second quarter operating loss for 2023 was $1.0 million as compared to operating income of $0.9 million for the second quarter of 2022.
Net loss was $1.1 million, or $0.59 per diluted share, for the second quarter of 2023, as compared to net income of $0.7 million, or $0.34 per diluted share, for the second quarter of 2022.
The approximate number of new and continuing independent associate and preferred customer positions held by individuals in Mannatech’s network and associated with purchases of products as of June 30, 2023 and 2022 were approximately 142,000 and 152,000, respectively. Recruitment of new independent associates and preferred customers decreased by 2.59% to 19,309 in the

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Mannatech Q1 Revenue Up 5.3% To $34.1 Million

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-Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, today announced financial results for its first quarter of 2023.
First Quarter End Results
First quarter net sales for 2023 were $34.1 million, an increase of $1.7 million, or 5.3%, as compared to $32.4 million in the first quarter of 2022.
First quarter net sales for 2023 include the results of an annual promotion in March 2023 that occurred in April 2022. Our net sales increased 10.2% on a constant dollar basis (see Non-GAAP Measures, below) as foreign exchange decreased GAAP net sales by $1.6 million, mostly due to the decline of the Korean Won and Japanese Yen.
First quarter operating income for 2023 was $0.7 million as compared to less than $0.1 million for the first quarter of 2022.
Net income was $0.6 million, or $0.32 per diluted share, for the first quarter of 2023, as compared to net income of $0.1 million, or $0.06 per diluted share, for the first quarter of 2022.
For the three months ended March 31, 2023, overall selling and administrative expenses decreased by $0.5 million to $6.4 million, as compared to $6.9 million for the same period in 2022.

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Mannatech Launches A New MLM – With As Brand Trulu

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Mannatech, Incorporated (NASDAQ: MTEX), announced the formation of a new wholly owned subsidiary that will serve as its innovation hub. After many months of study and exploration, this subsidiary is introducing the brand Trulu to the gig economy.
The new entity will operate separately from Mannatech, however, it is integral to Mannatech’s future. There will be constructive collaboration between the two entities. We will always nurture, protect and invest in the Mannatech business that our Associates have been building for 30 years.
Al Bala, Chief Executive Officer, and J. Stanley Fredrick, Chairman of the Board of Directors of Mannatech Incorporated, explained the rationale behind forming this new innovation hub.

“Our current business model is 30 years old. We, like most other businesses in our space, are looking to remain relevant and capture more market share in the current and future marketplace.
“We also know, from the data we review, that the marketplace is most receptive to optimizing health and well-being through nutritional supplementation. We will continue to transform certain aspects of the current model,”
explained Mr. Bala.
“Our investments in Trulu will not distract from our responsibilities to Mannatech’s existing business. The continued global success of Mannatech is our primary focus and priority! Mannatech makes this possible, and we

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Mannatech To Open Its Doors Into Thailand In 2023

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Mannatech, Incorporated (NASDAQ: MTEX), a leading provider of high-quality health and wellness products, is excited to announce its continued expansion into the ASEAN region, with the official launch into the Thailand market.
This opening will bring Mannatech’s global presence to 26 markets. ^
“As part of our vision to help people across the globe to live happier, healthier lives by delivering innovative wellness solutions, we are thrilled at the prospect of bringing our innovative product line to the people of Thailand,”
said Al Bala, President and CEO of Mannatech.
“The expansion of Mannatech into Thailand will present an exciting opportunity for the company. As a global leader in the health and wellness industry, this expansion will help us continue to grow and reach more individuals around the world.”
Thailand is regarded as a market with high potential, with a population of 70 million, a direct sales market of about USD $3.1 billion and dietary supplement market of USD $3.9 billion in 2020. Mannatech’s entry into Thailand is expected to serve as the bridgehead for pioneering the Southeast Asian market.
“In 2023, Mannatech is expected to enter the Thai market and create a new growth engine,”
said Roh Jae-hong, General Manager of Mannatech Korea.
“Mannatech has been

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Mannatech Q3 Revenue Down 10 % To $35.5 Million

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Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, today announced financial results for its third quarter of 2022.
Third Quarter End Results
Third quarter net sales for 2022 were $35.5 million, a decrease of $3.9 million, or 10.0%, as compared to $39.4 million in the third quarter of 2021. Our net sales declined 1.3% on a constant dollar basis (see Non-GAAP Measures, below) as foreign exchange decreased GAAP net sales by $3.4 million, mostly due to the decline of the Korean Won and Japanese Yen.
Third quarter operating income for 2022 was $1.4 million as compared to $3.3 million for the third quarter of 2021.
Net income was $1.2 million, or $0.61 per diluted share, for the third quarter of 2022, as compared to net income of $2.9 million, or $1.44 per diluted share, for the third quarter of 2021.
For the three months ended September 30, 2022, overall selling and administrative expenses decreased by $0.5 million to $6.7 million, as compared to $7.2 million for the same period in 2021. The decrease in selling and administrative expenses consisted of a $0.7 million decrease in payroll costs, and a $0.1 million decrease in warehouse costs, which was partially offset by a $0.3 million increase in marketing costs.
For the three months ended September 30, 2022, other operating costs increased by $0.1 million to $5.1 million, as compared to $5.0

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Mannatech Launches Superfood Greens And Reds

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Global health and wellness company Mannatech, Incorporated (NASDAQ: MTEX) just announced the launch of its new product, Superfood Greens and Reds. It was revealed in front of a live and virtual crowd on September 24, 2022, during the company’s MannaFest Unite 2022 event.
“Mannatech is going beyond market trends by improving upon them. We work to add as much value and benefit as possible in each product we create,”
said Mannatech President & CEO Alfredo “Al” Bala. “
By combining nutrients from both green and red superfoods, we’ve innovated a new approach to wellness that gives consumers a way to nourish their bodies with 20 phytonutrients from vegetables, fruits, and other plants — all at once.
Our mission to provide high-quality wellness solutions is never-ending, and we’re excited to offer another unmatched product, with this one focused on total well-being benefits that help fill nutritional gaps, but also address energy, endurance and helping support healthy cortisol levels. Plus, it actually tastes amazing.”
As few as 6% of Americans eat the recommended five or more servings of fruits and vegetables a day, according to the CDC. Superfood Greens and Reds was created to help fill this nutritional gap. Just one scoop in a glass of water, juice or

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Mannatech Q2 Revenue Down 17,7% To $35 Million

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Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, today announced financial results for its second quarter of 2022.
Second Quarter End Results
Second quarter net sales for 2022 were $35.0 million, a decrease of $7.5 million, or 17.7%, as compared to $42.5 million in the second quarter of 2021.
Our net sales declined 11.3% on a constant dollar basis (see Non-GAAP Measures, below) as foreign exchange decreased GAAP net sales by $2.7 million, mostly due to the decline of the Korean Won and Japanese Yen.
During the second quarter, logistics in Hong Kong improved, and we were better able to deliver products to our customers. However, during the quarter, supply chain constraints worldwide continued to impact our sales. We have experienced a shortage of an ingredient used in some core products, and we have begun to move forward with our manufacturing partners with an alternative.
Second quarter operating income for 2022 was $0.9 million as compared to $2.0 million for the second quarter of 2021.
Net income was $0.7 million, or $0.34 per diluted share, for the second quarter of 2022, as compared to net income of $2.1 million, or $0.99 per diluted share,

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Mannatech Q3 Sales Up 2% To $43 Million

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Mannatech, Incorporated (NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, today announced financial results for its third quarter of 2018.
Third quarter net sales for 2018 were $43.0 million, an increase of $1.0 million, or 2.4%, as compared to $42.0 million in the third quarter of 2017. For the three-month period ended September 30, 2018, our net sales increased 2.9% on a constant dollar basis (see Non-GAAP Financial Measures, below) as compared to the same period in 2017, while unfavorable foreign exchange caused a $0.2 million decrease in GAAP net sales as compared to the same period in 2017.
Income from operations was $1.7 million for the third quarter 2018, as compared to income of $0.7 million in the same period in 2017. Due to taxes, our net loss was $1.7 million, or $0.69 per diluted share, for the third quarter 2018, as compared to net income of $1.4 million, or $0.50 per diluted share, for the third quarter 2017.
For the three months ended September 30, 2018, the Company’s effective tax rate was 167.8% as compared to (58.5)% for the same period in 2017. The effective tax rate for the three months ended September 30,

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