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Mannatech Q1 Net Income Declines

Mannatech (MTEX) reported first quarter net income of $0.1 million, or $0.06 per share, compared to $2.2 million, or $1.04 per share, a year ago. Operating income was less than $0.1 million compared to $2.8 million.

First quarter net sales were $32.4 million, a decrease of 15.5%, compared to $38.3 million, a year ago. Net sales declined 11.5% on a constant dollar basis, for the quarter. The number of product fulfilled orders decreased by 6.0% to 189,700 for the quarter, compared to 201,729, last year.

The company noted that supply chain constraints impacted its sales during the quarter.

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