-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
by Team Business For Home • • 0 Comments
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
by Team Business For Home • • 0 Comments
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
by Team Business For Home • • 0 Comments
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
by Team Business For Home • • 0 Comments
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
by Team Business For Home • • 0 Comments
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
by Ted Nuyten • • 0 Comments
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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Mannatech For The Second Time Classified As Triple A Opportunity
by Ted Nuyten • • 0 Comments
Once again, Mannatech, Incorporated(NASDAQ: MTEX) has been classified as a Triple A (AAA+) opportunity, based on key figures such as revenue, momentum, Alexa ratings, poll results, input from direct selling professionals, top earners and Head Office visits we regularly do. In June 2016 Mannatech earned the rank for the first time.
Business For Home recommends Mannatech. There is a high certainty that the net benefit is substantial for a (new) representative.
Mannatech’s Unique Value Proposition
Mannatech transforms lives through Glyconutrition. Glycans are part of the glycoproteins on the exterior of your body’s cells. They help the glycoproteins facilitate faster, better and more complete cell-to-cell communication, helping your cells get what they need so that they — and you — can be at your healthiest.*
As the discovering party, pioneer and champion for glycans Mannatech’s products, including its flagship Ambrotose® products (with over $2 billon sold), provide these important compounds, that according to numerous studies published in peer-reviewed journals, can:
Support cellular communication
Improve cognitive function, concentration and memory
Improve mood and decrease irritability
Support immune function
Support digestive function
Promote gastrointenstinal health
The powerful, proprietary combination of ingredients in Ambrotose products cannot be replicated by competitors. This ensures product exclusivity and protects the business opportunity enjoyed by approximately 218,000 Mannatech Associates in
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Germain Vaca Rodriguez Achieves Presidential Platinum Rank With Mannatech
by Ted Nuyten • • 0 Comments
Germain Vaca Rodriquez from Mexico is Mannatech’s first Latino Presidential Platinum and has 26 years experience in the Direct Selling Industry.
His team stated:
“It’s a privilege for all Mannatech to recognize your effort – work and commitment in these years.
Your commitment is the key to success that today lives in Mexico. Thank you for being part of this story and for marking the story of thousands of people around the world.
Today is the beginning of a new phase for all of us and the new road we walk along with you!
Thanks friend, company and great leader. We love you for that day you’re with us.
About Mannatech
Mannatech, Incorporated, offers a profound wellness experience that makes a difference in the lives of people across the world. Through its innovative Glyconutrition products, Mannatech changes lives, providing an unprecedented level of natural wellness, freedom and purpose.
With more than 20 years of experience and operations in 26 markets, Mannatech is committed to changing lives. For more information, visit Mannatech.com.
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Mannatech And M5M On Pace To Provide 16 Million Meals To Malnourished Children
by Ted Nuyten • • 0 Comments
Mannatech, Incorporated (NASDAQ:MTEX), a global health and wellness company, announced today that in partnership with Mission 5 Million Foundation (M5M) and Kids Around the World’s OneMeal program they have provided 10 million meals for children in the first half of the year and are on pace to achieve their overall goal of providing 16 million meals in 2018.
“Our mission at M5M is to combat malnutrition by providing food-sourced supplements to children in need, around the world,”
said M5M Executive Director Sarah Louthan.
“We set a goal to provide 16 million meals this year and at mid-year we were at 10 million, and we feel we can reach the 16 million mark before year-end.”
Each meal is enhanced with Mannatech’s PhytoBlend™ product, a plant-based powder that mixes easily into foods such as soups, rice and porridge.
It contains over 20 vitamins and minerals to help promote good health and vitality and provides many of the nutrients otherwise found in fruits, vegetables, minerals, grains and oils. Many communities around the world to do not have access to this variety of nutrient sources, leaving millions of children malnourished.
“We’re helping children get the best nutrients through Mannatech’s PhytoBlend powder. It is all-natural, real-food supplementation that can be