The Way To Connect With Direct Selling Industry

The Way To Connect With Direct Selling Industry

Mannatech’s Second-quarter Revenue Increased By 12.9 Percent To $42.5 Million

Net sales for the second quarter of 2021 were $42.5 million, up to $4.9 million, or 12.9 percent, from $37.6 million in the second quarter of 2020. In the second quarter of 2021, income from operations grew to $2.0 million, up from $1.1 million in the same period of 2020.

In the second quarter of 2021, net income was $2.1 million, or $0.99 per diluted share, compared to $1.1 million, or $0.47 per diluted share, in the second quarter of 2020.

Other operating costs grew by $0.6 million, or 13.6 percent, to $5.4 million for the three months ended June 30, 2021, compared to $4.8 million for the same period in 2020. A $0.2 million rise in consultancy fees, a $0.2 million increase in credit card fees, a $0.1 million increase in travel and entertainment expenditures, and a $0.1 million increase in office expenses accounted for the majority of the increase in operational costs.

The provision for taxes for the three months ended June 30, 2021, was $48,000, or a 2.2 percent effective rate. Provision for taxes was $0.2 million for the three months ended June 30, 2020, or an effective rate of 12.3 percent. The projected annual effective income tax rate was used to calculate the effective tax rate for the three months ending June 30, 2021, and 2020.

As of June 30, 2021, and 2020, the number of new and continuing independent associate and preferred customer positions held by Mannatech network members and connected with product purchases was approximately 176,000 and 172,000, respectively. In the second quarter of 2021, the number of new independent associates and preferred customers recruited grew by 13.0% to 21,527, up from 19,047 in the second quarter of 2020.

About Mannatech

As of June 30, 2021, and 2020, the number of new and continuing independent associate and preferred customer positions held by Mannatech network members and connected with product purchases was approximately 176,000 and 172,000, respectively. In the second quarter of 2021, the number of new independent associates and preferred customers recruited grew by 13.0% to 21,527, up from 19,047 in the second quarter of 2020.

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