Mannatech Q2 net sales rise, returns to profit
MTEX•Overview
- Health supplements maker's Q2 net sales rose yr/yr to $26.7 mln
- Company returned to profitability with Q2 net income of $1.0 mln
- Gross margin improved to 76.9% from 73.6% in prior-year quarter
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | $26.7 mln | ||
| Q2 Net Income | $1.0 mln | ||
| Q2 Gross Profit | $20.49 mln | ||
| Q2 Income from Operations | $998,000 | ||
| Q2 Operating Expenses | $19.49 mln | ||
| Q2 Pretax Profit | $1.17 mln |
Result drivers
- Recruiting increase - Co said recruiting new associates and preferred customers rose 33% yr/yr in Q2
- Expense reduction - Selling and administrative expenses fell 17% yr/yr, supporting improved operating income
- Foreign exchange impact - Currency fluctuations reduced GAAP net sales by $0.3 mln in Q2
