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Mannatech swings to loss in Q1

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According to Market Intelligence, December 2022

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Mannatech swings to loss in Q1

Mannatech Inc. said its normalized net income for the first quarter came to a loss of 34 cents per share, compared with 19 cents 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 $915,000, compared with income of $537,500 in the prior-year period.

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

Total revenue totaled $40.6 million, compared with $40.7 million in the year-earlier period, and total operating expenses climbed 5.0% year over year to $42.2 million from $40.2 million.

Reported net income came to a loss of $1.2 million, or a loss of 46 cents per share, compared to income of $583,800, or 21 cents per share, in the prior-year period.