DALLAS--(BUSINESS WIRE)--April 1, 2003--Natural Health Trends Corp. (OTCBB:NHLC) announced today record revenues and earnings for 2002.
The Company reported net sales of $39.7 million for the year ended December 31, 2002, up 60% over the prior year and net income of $4.1 million, an increase of 203% from the prior year.
Mark Woodburn, President of Natural Health Trends Corp., commented: "We are very encouraged with our results for last year. Currently with 4,628,731 common shares issued and outstanding and our last year's earnings of $4,102,020 we feel that the Company has made great strides over the past two years and we attribute our success to our management team and our dedicated distributors around the globe. In just the past year, we have stabilized our capital structure, successfully deployed our resources in expanding into foreign markets and built a solid platform to support additional growth. The direct selling industry is attracting the attention of both investors and career based individuals and we are committed to enhancing shareholder value."
About Natural Health Trends Corp.
Natural Health Trends Corp. is an international direct-selling company operating in more than 29 markets throughout Asia, North America and Eastern Europe. The Company markets premium quality personal care products under the Lexxus brand and markets its nutritional supplement products under the Kaire brand. Additional information can be found on our website at http://www.nhtc.ws, and we encourage interested parties to register for updated corporate information via e-mail on the Company's homepage.
Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.