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Mannatech swings to loss in Q3

Mannatech Inc. said its third-quarter normalized net income was a loss of 2 cents per share, compared with $1.63 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $56,880, compared with income of $4.4 million in the year-earlier period.

The normalized profit margin dropped to negative 0.1% from 7.9% in the year-earlier period.

Total revenue fell 21.2% on an annual basis to $43.9 million from $55.6 million, and total operating expenses fell 12.3% from the prior-year period to $41.6 million from $47.4 million.

Reported net income decreased 98.4% year over year to $81,630, or 3 cents per share, from $5.1 million, or $1.89 per share.