14 May 2008

Mannatech posts first-quarter loss


Dallas Business Journal:
Nutritional supplements maker Mannatech Inc. swung to a loss in its first quarter, sunk by lower North American sales and litigation costs.

The Coppell-based company, which has been involved in lawsuits over its sales practices, posted a loss of $2.3 million, or 9 cents per share, compared with a profit of $6.9 million, or 26 cents per share, in the quarter last year.

Sales fell 13 percent to $91.5 million from $104.8 million last year. Mannatech (Nasdaq: MTEX) said sales were dragged down by a 23 decrease in North American sales. International sales rose 14 percent, led by sales in Japan and Korea.

"Our U.S. market continues to experience a decline in net sales and recruiting impacted by ongoing litigation and a weaker economy," President and Chief Executive Terry Persinger said in a statement.

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