Mannatech Inc. said its normalized net income for the fourth quarter came to 57 cents per share, a gain from 20 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 $1.6 million, an increase from $548,750 in the year-earlier period.
The normalized profit margin climbed to 3.4% from 1.2% in the year-earlier period.
Total revenue totaled $45.3 million, compared with $45.2 million in the year-earlier period, and total operating expenses totaled $42.5 million, compared with $42.6 million in the year-earlier period.
Reported net income declined 18.5% from the prior-year period to $1.5 million, or 56 cents per share, from $1.9 million, or 69 cents per share.
For the year, the company's normalized net income totaled $1.88 per share, a fall of 17.1% from $2.27 per share in the prior year.
Normalized net income was $5.1 million, a decrease of 16.4% from $6.2 million in the prior year.
Full-year total revenue decreased 5.2% year over year to $180.3 million from $190.1 million, and total operating expenses fell 5.2% year over year to $168.1 million from $177.3 million.
The company said reported net income declined 10.1% year over year to $5.8 million, or $2.14 per share, in the full year, from $6.5 million, or $2.40 per share.