Mannatech Reports Lower Earnings, Flat Revenue in Q4
March 18, 2016 Leave a comment
Mannatech Inc. (MTEX—NASDAQ) on Tuesday said earnings slipped in the fourth quarter from the same period a year ago.
The nutrition company, which ties its business to fighting childhood hunger through the M5M (Mission 5 Million) Foundation, reported income of $1.5 million, or 56 cents a share, versus $1.9 million, or 68 cents a share, in the fourth quarter of 2014.
Bolstered by sales growth in the Asia-Pacific region, quarterly revenue edged up 0.2 percent to $45.3 million, compared to analyst estimates of $45.20 million. Management said the results were hurt by currency rates and new product launches.
For the year, revenue fell 5.2 percent to $180.3 million, taking an $11.8 hit from currency fluctuations. The bottom line decreased to $5.8 million, or $2.14 a share, from $6.5 million, or $2.40 a share, in 2014. Management said the company closed out the year with $32.0 million in cash, up from $28.0 million a year ago.
Also in 2015, orders of Mannatech nutrition products triggered donations of more than $1 million to the M5M Foundation, which the company founded last year in its transition to a social entrepreneurship model. The donations funded 17 million servings of the company’s nutrient-dense PhytoBlend product, feeding more than 48,000 malnourished children in nine countries on a daily basis.