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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Tupperware Q3 Revenue Down 20% To $302 Million
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Tupperware Brands Corporation (NYSE: TUP), a leading global consumer products company, today reported operating results for the third quarter ended September 24, 2022.
Third Quarter 2022 Financial Summary:
Net sales were $302.8 million, a decrease of 20% year over year (or 14% on a constant currency basis), compared to $376.9 million in the prior year period.
Gross profit was $196.6 million, or 64.9% of net sales, compared to $247.9 million, or 65.8% of net sales, in the prior year period
(Loss) income from continuing operations was $(3.8) million, compared to $60.4 million in the prior year period
Diluted (loss) earnings per share from continuing operations was $(0.09), compared to $1.14 in the prior year period
Adjusted diluted earnings per share (non-GAAP) from continuing operations was $0.14, compared to $1.19 in the period year
period
Adjusted EBITDA (non-GAAP, per debt covenant)1 from continuing operations was $29.9 million, compared to $77.7 million in the prior year period
Consolidated Net Leverage Ratio (non-GAAP) was 4.17, within the 4.5 debt covenant limit for the quarter
The Company continues to implement its Turnaround Plan; fixing the core, right sizing the business, divesting non-core assets and
opening new channels of distribution.
“While we are excited to expand the Tupperware ecosystem to have some of our products available at
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Nu Skin Q3 Revenue Down 16% To $537 Million
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Nu Skin Enterprises, Inc. (NYSE: NUS) today announced third quarter 2022 results.
Executive Summary Q3 2022 vs. Prior-year Quarter:
Revenue: $537.8 million; (16)%
Earnings Per Share (EPS): $(0.51) or $0.47
Customers: 1,239,384; (11)%
Paid Affiliates: 243,276; (11)%
Sales Leaders: 49,824; (22)%
“Our third quarter results were impacted more than anticipated by worsening macro headwinds, including prolonged COVID-related disruptions in Mainland China, slowdown in South Korea, persistent global inflation and excessive foreign currency pressure,”
said Ryan Napierski, Nu Skin president and CEO.
“Despite the challenging macro environment, we further strengthened our position as the world’s leading beauty device system company by introducing our connected ageLOC® LumiSpa® iO.
This introduction, which continues in the fourth quarter, along with the expansion of ageLOC® Meta and Beauty Focus Collagen+ products and further advancement of our social commerce initiatives, helped us deliver constant-currency growth in four of our reporting segments.
The growth was led by Southeast Asia/Pacific and our tenth consecutive quarter of growth in our U.S. market. Japan and our Taiwan/Hong Kong segments grew in constant currency, with reported currency declines due to unfavorable foreign currency.
“We remain focused on Nu Vision 2025 for driving long-term growth and shareholder value as we continue executing against the core elements including the introduction of EmpowerMe,
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LifeVantage Q1 Revenue Down 2.7% To 51.8 Million
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LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its first fiscal quarter ended September 30, 2022.
First Quarter Fiscal 2023 Summary*:
Revenue of $51.8 million, a decrease of 2.7% from the prior year period. Excluding the negative impact of foreign currency fluctuations, first quarter revenue was up approximately 2.3%;
Revenue in the Americas decreased 0.2%.
Revenue in the United States increased 1.1%.
Revenue in Asia/Pacific & Europe decreased 8.2%. Excluding the negative impact of foreign currency fluctuations, first quarter revenue in Asia/Pacific & Europe increased approximately 7.4%;
Total active accounts declined 6.7% from the prior year period to 153,000, reflecting a decline of 7.8% in the Americas and a 4.1% decline in Asia/Pacific & Europe;
Net income per diluted share were $0.05, versus $0.25 per diluted share a year ago;
Adjusted earnings per diluted share were $0.06, versus $0.23 a year ago;
Adjusted EBITDA of $2.8 million, compared to $5.8 million a year ago; and
Strong balance sheet with $17.6 million of cash and no debt.
* All comparisons are on a year over year basis and compare the first quarter of fiscal 2023 to the first quarter of fiscal 2022, unless otherwise noted.
“Results in the first quarter demonstrated continued momentum across our strategic initiatives around innovation and engagement,”
said
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iX Global Projects $500 Million In Sales For 2023
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According to an iX Global press release:
Recently top leaders from around the world gathered in Barcelona for iX Global’s second Awaken incentive trip of 2022. From October 14th to the 18th the incentive trip award earners explored the city, exchanged ideas with iX Global executive staff and top leaders, and danced the night away on multiple occasions.
iX Global has been on an incredible trajectory since its inception in May of 2020, generating over $4 million dollars of sales during that pandemic stricken year.
In 2021 the growth continued with iX Global exceeding $22 million in revenue during its first full calendar year.
2022 has seen iX Global continue its meteoric rise by reaching $100 million in sales revenues by late September, just in time to celebrate at this Awaken Barcelona event.
As iX Global has been expanding rapidly all over the globe in 2022, this was the first opportunity for many of the top iX leaders to meet each other and members of the corporate staff as well.
On top of being able to explore the magical city of Barcelona and its treasures such as Sagrada Familia and Parc Guell, attendees had the chance to hear from Top 100 Industry Income Earners such as
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USANA Q3 Revenue Down 15 % To $233 Million
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USANA Health Sciences, Inc. announced financial results for its fiscal third quarter ended October 1, 2022. Key Financial & Operating Results:
Third quarter net sales were $233 million as compared with $274 million during the third quarter of the prior year. Third quarter diluted EPS totaled $0.78 versus $1.36 during the third quarter of 2021. Company revises fiscal 2022 net sales and diluted EPS outlook to $955 million to $975 million and $3.15 to $3.40, respectively.
Q3 2022 Financial Performance – Consolidated Results
Net Sales $233 million
-15% vs. prior-year quarter
-9% constant currency vs. prior-year quarter
-$15 million YOY FX impact, or -6%
-9% sequentially in constant currency
Diluted EPS $0.78 -43% vs. prior-year quarter -22% sequentially
Diluted shares of 19.3 million, -4% year-over-year
Active Customers 474,000 -18% vs. prior-year quarter -15% sequentially
“The challenging operating environment in Asia Pacific and the strengthening U.S. dollar negatively affected our operating results in the third quarter,”
said Kevin Guest, Chief Executive Officer and Chairman of the Board.
“COVID-related disruptions and challenging economic conditions resulting from those disruptions negatively impacted our results in several key Asia Pacific markets where city-wide lockdowns and other COVID restrictions persisted. This difficult operating environment has impacted our entire industry.”
Guest continued,
“While we remain committed to our long-term business strategy,
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ibüümerang Records Its Biggest Month Ever With 27 New Diamond Ranks
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In August 2022, ibüümerang saw its biggest month ever in its brief 3-year history, with hundreds of rank advancements and thousands of new enrollments.
27 new Diamond ranks were created in this month of momentum, including the first two Presidential Diamonds in ibüümerang’s history.
This explosive growth came immediately after ibüümerang’s Go Diamond Limitless event at the end of July 2022, where ibüümerang CEO, Holton Buggs inspired countless Ambassadors from all over the world.
Watch the video below for a glimpse into ibüümerang’s incredible momentum and how Ambassadors are preparing for an even bigger year ahead:
About ibüümerang:
Officially launched on September 1, 2019, ibüümerang was founded on the vision and mission of giving back to others without expecting anything in return.
ibüümerang pioneered the concept of “you only earn when your customers save,” and supports the BüüM Foundation in providing an abundant life for every child on the planet.
For more information on ibüümerang and its top-tier leadership team, visit the company website at www.ibuumerang.com.
The post ibüümerang Records Its Biggest Month Ever With 27 New Diamond Ranks appeared first on Direct Selling Facts, Figures and News.
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Juice Plus+ Moody’s Downgrades Rating, Outlook Is Negative
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Juice Plus has experienced double digit sales declines in its fiscal year ending April 2022, reflecting declines in sales force and volumes.
Juice Plus continues to invest in IT systems, tools, training, and incentives to drive enrollment, but these investments have not halted the erosion of sales and earnings.
Moody’s is concerned that the company will face difficulty mitigating distributor, revenue and earnings declines because increased hybrid work arrangements create competition for sales consultants that desire work flexibility.
Moody’s projects negative $11 million of free cash flow in the fiscal year ended April 2023. Moody’s believes the cash balance may not be sufficient to fund the free cash flow burn, the $22.5 million of required annual term loan amortization, and repayment of the $7.5 million revolver if the facility is not extended.
The Moody’s press release:
Moody’s Investors Service (“Moody’s”) downgraded JP Intermediate B, LLC’s (dba as The Juice Plus Company, “Juice Plus”) Corporate Family Rating (“CFR”) to Caa1 from B3 and its Probability of Default Rating to Caa1-PD from B3-PD.
Moody’s also downgraded Juice Plus’ first lien senior secured revolving credit facility and term loan ratings to B3 from B2. The rating outlook is negative.
The rating downgrades reflect Moody’s expectation for debt-to-EBITDA (Moody’s adjusted) to
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Validus Welcomes BFH’s Triple-A Rating In Their First Year of Operation
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According to a Validus press release:
Due to the highly effective growth of the company and the rapid results achievable by all members, Validus has been recognised as the only MLM company in the last five years to reach a $100 million turnover within its first year of operation.
In less than a year, Validus has introduced the world to new and vital ways of forming a worldwide community and sharing financial benefits.
The Validus leadership team have dedicated themselves to the expansion of ethically led training leading to personal economic growth and forex trading excellence. In addition, it has opened its door to new members from around the globe, adding value to their lives and helping them work towards financial independence.
Validus’ primary function is to educate people who are underserved by financial institutions globally. Financial literacy provides a strong foundation for individuals to take control of their personal economy and work towards a better future.
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Following a momentous early development period, Validus is already being recognised for some highly noteworthy achievements.
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DuoLife 2021 Revenue Up 40% To $37 Million
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As part of its growth plan for 2020-2025, DuoLife has decided to issue shares, which are steadily increasing in value year on year. The company also expects to open new markets and increase its turnover in Europe, Asia and North America.
Between 2020 and 2021, the company’s revenue increased by 40.4%.
Since 1 August 2022, 78,060 new members have joined the DuoLife Club.
Since the beginning of 2020. 260 DuoLife Club members received luxury cars.
Since the beginning of 2020, 36 new products have been launched.
DuoLife dietary supplements are top-quality preparations composed from natural ingredients with extraordinary attention to detail.
They meet even the most stringent standards and requirements, as confirmed by numerous certificates. Every day, thousands of people around the world change their lives for the better thanks to our unique products.
DuoLife’s product portfolio includes more than 70 products. The company plans to introduce a further four products by the end of 2022.
DuoLife creates products that reach thousands of people around the world and is aware of the responsibility that comes with this, the Company makes every effort to ensure that they meet even the strictest standards and EU requirements.
About DuoLifeDuoLife is a joint-stock company founded in Poland in 2013, operating globally on 52