Mannatech Earnings Decline In Q1- Quick Facts

(RTTNews) - Mannatech, Incorporated (MTEX), a multi-level marketing company selling dietary supplements and personal care products, reported a decline in its earnings for the first quarter.

The company reported net income of $2.19 million, or $1.04 per share, in the first quarter compared with $2.79 million, or $1.15 per share, in the same quarter a year ago.

While the company's sales increased, it recorded an income tax provision of $335000 compared to income tax benefit of $934000 last year.

Net sales for the quarter increased 4.7% to $38.32 million from $36.61 million last year.

The company said new and continuing independent associate and preferred customer positions held by individuals increased to 187,000 from 166,000. It also increased recruitment by 4.6% during the quarter.