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Mannatech Q1 profit falls YOY

Mannatech Inc. said its normalized net income for the first quarter amounted to 19 cents per share, a decrease of 47.7% from 37 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $537,500, a decrease of 46.8% from $1.0 million in the year-earlier period.

The normalized profit margin declined to 1.3% from 2.3% in the year-earlier period.

Total revenue fell 8.3% year over year to $40.7 million from $44.4 million, and total operating expenses declined from the prior-year period to $40.2 million from $41.9 million.

Reported net income decreased 46.5% year over year to $583,800, or 21 cents per share, from $1.1 million, or 40 cents per share.