DALLAS--April 17, 2002--Natural Health Trends Corp. (OTCBB:NHTC) announced today that they have filed its annual report 10K-SB for the year ending December 31, 2001.
Natural Health Trends Corp. ("NHTC") reported revenues for the year ended December 31, 2001 of approximately $24,794,000 as compared to revenues for the year ended December 31, 2000 of approximately $8,320,000, an increase of approximately $16,474,000 or approximately 298%. The increased sales for the year ended December 31, 2001 were primarily from the sale of Lexxus products with eKaire showing a slight rise in sales from the year ended December 31, 2000.
NHTC reported gross profits increased from approximately $5,910,000 in the year ended December 31, 2000 to approximately $18,918,000 in the year ended December 31, 2001. The increase was approximately $13,008,000 or 320%. The Company attributes the increases to a rise in gross sales by both Lexxus and eKaire.
The Company reported net income for the year ending December 31, 2001 of $2,022,621 versus a loss of $10,699,299 the same time last year.
As of December 31, 2001, the Company reported total net assets of $2,497,012 versus $590,848 for December 31, 2000. Total liabilities on December 31, 2001 were $5,430,268 versus $6,328,290 for December 31, 2000, reducing shareholders deficit by approximately $2.8 million from the same time last year.
"I believe the numbers released today clearly reflect on my previous comments that this Company is greatly undervalued," stated Mark Woodburn, President of Natural Health Trends Corp. "We are currently doing business in 25 countries and spent a great deal of time and capital resources opening up all of these new markets in 2001 and still showed a nice net profit for the year. We expect to see the results of these efforts reflective in 2002. My hat is off to all the great people within our organization that have contributed so much of their time and effort to help this Company realize its goals and vision," he added.
About Natural Health Trends Corp.
Natural Health Trends Corporation is a holding company for two operating subsidiaries, ekaire.com, Inc., which sells nutritional supplements and vitamins and Lexxus International, Inc. Lexxus, started in January 2001, markets and sells the revolutionary new products, Viacreme(TM) and Skindulgence(TM). More information may be obtained at http://www.invrel.net/clients/nhtc or at http://www.nhtc.ws.
When used in Form 10-QSB and 10K-SB and in future filings by the Company with the Securities and Exchange Commission, the words "will likely result", "the Company expects", "will continue", "is anticipated", "estimated", "projected", "outlook" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. The Company wishes to caution readers not to place undue reliance on such forward-looking statements, each of which speak only as of the date made. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company has no obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements.