Connect with us on Facebook Follow us on Twitter Join our LinkedIn Group Subscribe to us on YouTube Share with us on Google+ Subscribe to our RSS feed

May 01, 2010

Financial News

Financial News, May 2010


First-Quarter Results

Amway Corp.

Amway’s parent company, Alticor Inc., announced record sales of more than $8.4 billion for the year ended Dec. 31, 2009, a 2.3 percent increase over 2008. Sales were negatively impacted by foreign currency fluctuations, which in local currency grew 5.9 percent.

Strong regional sales in China, India, Southeast Asia and Korea continued in 2009, while the 2008 relaunch of the Latin American market yielded a second year of more than a 50 percent increase in volume in the region. Visible work has been done to strengthen and reposition Amway in established markets such as Australia, New Zealand and South Africa, making the region one to watch for 2010.

In the North America market, continued transformation was marked by investments in visibility, training and consumer access. In November, the company launched an ordering “app” for the Apple® iPhone, product information and sales support via podcast, and training apps on iTunes®. North America is also the first to implement a new Web-commerce platform, which will begin a global rollout later in 2010.

Amway, a pioneer and leader of the direct selling industry, does business through its distributor network in more than 80 countries and territories. Amway’s flagship product brands include NUTRILITE™ nutrition and wellness products. Nutrilite is the leading global brand of nutritional supplements and is also the worldwide leader in children’s nutritional supplements. ARTISTRY™, one of the top five global prestige brands of skin care and cosmetics, is a recognized leader in specialized development of Asian skincare regimens and emphasizes premium, anti-aging skin care.

Amway’s parent company earlier this year announced a strategic partnership with Metagenics, developer of therapeutic nutritional supplements that are primarily sold through healthcare providers. Gurwitch Products, marketer of Laura Mercier cosmetics and ReVive skincare products, continued a strong, stable pattern of growth and expansion. Sales of third-party manufacturing and logistics services through subsidiary Access Business Group were lower in 2009, in part due to the challenges faced by those customers, and in part due to an increased need for manufacturing and logistics capacity based on growth of the Amway business.

Alticor is the parent company of Amway Corporation, Access Business Group LLC and Alticor Corporate Enterprises. Amway is one of the world’s largest direct selling businesses. Founded in 1959 and based in Ada, Mich., Amway offers consumer products and business opportunities in more than 80 countries and territories worldwide. In its most recent fiscal year, the Amway family of companies reported annual sales of $8.4 billion.

Mannatech Inc.

Mannatech Inc. (MTEX—NASDAQ) reported net income of $2.2 million, or 8 cents per diluted share, for the fourth-quarter ended Dec. 31, 2009, compared to net income of $0.6 million, or 2 cents per diluted share, for the fourth quarter of 2008. Fourth-quarter net sales for 2009 were $70.1 million, a decrease of 8.4 percent, compared to $76.5 million in the fourth quarter of 2008.

Sales for the full year 2009 were $289.7 million, down 12.9 percent from $332.7 million for the full year 2008. Total independent associate and member count based on a 12-month trailing period was approximately 513,000 as of Dec. 31, 2009, as compared to 531,000 as of Dec. 31, 2008.

Mannatech Inc. is a global wellness-solutions provider of innovative, high-quality, proprietary dietary supplements, skincare products, and weight and fitness products sold through independent associates and members worldwide.

RBC Life Sciences

RBC Life Sciences (RBCL—OTC Bulletin Board) reported companywide net sales of $24.9 million for the year ended Dec. 31, 2009, compared to net sales of $30.4 million for the same period during 2008. The company also reported a net loss of $335,000, or 2 cents per diluted share, during 2009, compared to net earnings of $1.6 million, or 7 cents per diluted share, during 2008.

RBC Life Sciences develops, manufactures and markets high-quality nutritional supplements and personal-care products to a growing population of consumers seeking wellness and a healthy lifestyle.

Immunotec Inc.

Immunotec Inc. (IMM—TSX Venture Exchange) reported a sales increase of 19.4 percent in its core network marketing business to reach $37.9 million in 2009, compared to $31.8 million in 2008, despite the challenging market environment in North America. Revenues in key U.S. markets grew by 30 percent to reach $20 million, while Canada grew by 11 percent to reach $21 million.

Immunotec is engaged primarily in the development and marketing of dietary supplements, food, vitamins and personal-care and natural health products. Immunotec’s products are distributed and sold in Canada and the United States through a network marketing system and in other countries under distributorship agreements.


Direct Selling News has accumulated this information from public sources, including press releases and SEC filings. The information is presumed accurate and reliable. However, it is not an endorsement of any investment opportunity. Proper and considerable due diligence should be completed before making any investment.