Saturday, October 03, 2009

Mannatech First-Quarter Loss Widens

Source: Npros.com

"Nutritional supplement developer Mannatech saw it first-quarter loss widen as it was negatively impacted by a change in its commissions, lower U.S. sales and an unfavorable foreign currency exchange.

Coppell-based Mannatech (Nasdaq: MTEX) reported a net loss of $4.8 million, or 18 cents per share, in the quarter that ended March 31 compared to a loss of $2.3 million, or 9 cents a share, in the year-ago quarter.

Revenue was $70.7 million, down 22.7 percent from $91.5 million in the year-ago period. Mannatech said the sales decline was due mainly to a 27.6 drop in North American sales. International sales were down 14.3 percent.

The company said it boosted its number of independent sales associates by 5.1 percent during the quarter. "

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