CHESTERFIELD, Mo., Nov. 5 /PRNewswire-FirstCall/ --
Reliv International, Inc. (Nasdaq: RELV), an international manufacturer and
network marketer of nutritional supplements and other food technology
products, today reported its 3Q 2002 results. The company earned net income of
$741,000 during the three months ended September 30, 2002 - up 82 percent,
compared to net income of $407,000 in the prior-year quarter.
Third quarter 2002 earnings reached $.07 per share ($.06 per share
diluted), compared to $.04 per share (basic and diluted) in 3Q 2001.
Through the first nine months of 2002, Reliv earned net income of
$1.8 million (or $.16 per share basic, $.15 per share diluted), compared to
net income of $274,000 ($.02 per share, basic and diluted) for the first three
quarters of 2001. (All earnings-per-share figures have been adjusted to
reflect the 19 percent stock dividend declared on September 19, 2002, and
distributed on October 25 to shareholders of record on October 11, 2002.)
Reliv also posted a solid increase in net sales during the third quarter.
Net sales totaled $16.24 million for the period, up 21 percent compared to 3Q
2001. The company's year-to-date sales grew 13 percent, to $46.17 million
through September 2002, compared to $40.9 million for the first nine months of
Robert L. Montgomery, President and Chief Executive Officer of Reliv,
noted that broad-based growth contributed to the company's strong third
quarter performance. "We continue to see outstanding results from the United
States - our largest geographic market," he said. "Most of our international
markets are delivering healthy growth as well."
The company's net sales increased 29 percent in the United States compared
to the year-ago quarter, Mr. Montgomery said. Sales also grew at a double-
digit percentage pace in markets such as Mexico and the United Kingdom, he
"In addition to the impact of outstanding sales growth, our third quarter
results also reflect our continuing focus on expense controls," Mr. Montgomery
said. "Our selling, general and administrative expenses were lower as a
percentage of net revenue than in the year-ago period. We expect this powerful
combination of growing revenues and disciplined management to produce
additional benefits for our shareholders going forward."
Based in suburban St. Louis, Reliv International, Inc. manufactures and
distributes several lines of food products, including nutritional and fiber
supplements, diet management products, functional foods, sports drink mixes
and a line of premium skin care products. Its proprietary product lines
include an extensive line of soy-based products. Reliv International's common
stock trades on The Nasdaq Stock Market(R) under the symbol RELV.
The Company will host an earnings conference call at 2:00PM Eastern
Standard Time today. The call can be accessed via listen-only dial-in
conference lines by dialing 913-981-5533. A replay of this call will be
available by telephone from 4:00PM EST until midnight by calling 719-457-0820
and using the password (126618#).
A live webcast of this call will be available through the Investor
Relations section of the Company's Web site,
http://www.reliv.com/us/investor/index.html. An online archive of the
broadcast will be available on the Company's Web site in the Investor
Relations section shortly after the call concludes.
NOTE: Any statement released by Reliv International, Inc. that is forward
looking is made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Editors and investors are cautioned
that forward-looking statements involve risk and uncertainties that may affect
the Company's business prospect and performance. This includes economic,
competitive, governmental, technological and other factors described in the
Company's filings with the SEC on forms 10-K and 10-Q.