Mannatech, Inc., a Flower Mound, Texas-based global health and wellness company, has announced financial results for its first quarter of 2018. Net sales were $41.4 million, an increase of $800,000, or 2 percent, as compared to $40.6 million in the first quarter of 2017.
For the three-month period ended March 31, 2018, net sales declined 2.5 percent on a constant dollar basis as compared to the same period in 2017, while favorable foreign exchange caused a $1 million increase in GAAP net sales as compared to the same period in 2017.
Mannatech’s operations outside of the Americas accounted for approximately 66.9 percent of consolidated net sales.
Asia/Pacific net sales increased by $2.3 million, or 10.5 percent, to $24.2 million, as compared to $21.9 million for the same period in 2017. The increase was primarily due to a 29.2 percent increase in revenue per active independent associate and preferred customer, which was partially offset by a 14.5 percent decline in the number of active independent associates and preferred customers.
First-quarter 2018 net sales for Europe, the Middle East and Africa (EMEA) increased by $300,000, or 9.4 percent, to $3.5 million, as compared to $3.2 million for the same period in 2017. The increase was primarily due to a 20.3 percent increase in the number of active independent associates and preferred customers partially offset by a 9.1 percent decrease in revenue per active independent associate and preferred customer. Foreign currency exchange had the effect of increasing revenue by $400,000 when the three-month period ending March 31, 2018 is compared to the same period in 2017. The currency impact is primarily due to the strengthening of the South Africa Rand, the British Pound, and the Euro.
Net sales in the Americas decreased by $1.8 million, or 11.6 percent, to $13.7 million, as compared to $15.5 million for the same period in 2017. The decrease was primarily due to an 11.7 percent decline in revenue per active independent associate and preferred customer partially offset by a 0.1 percent increase in the number of active independent associates and preferred customers.
To read the full Mannatech Q1 2018 report, click here.
