DALLAS--(BUSINESS WIRE)--Aug. 28, 2002--Natural Health Trends Corp. (OTCBB:NHTC) announced that it has filed its Form 10QSB with the Securities and Exchange Commission, reporting net sales of approximately $15,270,000 and $13,010,000 for the six months ended June 30, 2002 and June 30, 2001 - respectively, an increase of approximately $2,260,000 or 17%. The increased sales were primarily from the sales of Lexxus products at varying prices in different markets and the expansion of Lexxus into international markets offset by a slight decrease in the sales of eKaire products. Gross profit increased from approximately $9,602,000 in the six months ended June 30, 2001 to approximately $12,606,000 in the six months ended June 30, 2002. The increase of approximately $3,004,000 was attributable to higher sales volumes by Lexxus and the international expansion of Lexxus.
The Company reported net income was approximately $673,000 in the six months ended June 30, 2002 as compared to approximately $1,374,000 in the six months ended June 30, 2001. Cash provided by operations for the six months ended June 30, 2002 was approximately $3,358,000. Cash used in investing activities during the period was approximately $368,000. Cash provided by financing activities during the period was approximately $95,000. Total cash increased by approximately $3,144,000 during the period.
"This has been a very exciting year for our Company, as we continue to grow - not only here in the United States but also in Asia. This year we have opened Taiwan, Hong Kong, and India, and we are presently working on opening Singapore and the Philippines in the next sixty days," said Mark Woodburn, President of Natural Health Trends Corp.
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 quality-of-life products.
Investors looking for information pertaining to Natural Health Trends Corp. or any of its subsidiaries are encouraged to look up http://www.nhtc.ws on the Internet or by contacting Investor Relations Services, Inc. at 386.409.0200 or on the Internet at http://www.invrel.net. Shareholders are encouraged to register for updated information on the corporation via e-mail at the website.
When used in Form 10-QSB 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.