CHESTERFIELD, Mo., Aug. 7 /PRNewswire-FirstCall/ -- Reliv International, Inc. (Nasdaq: RELV), an international manufacturer and network marketer of nutritional supplements and other food technology products, today reported its 2Q 2002 results. The company reported net income of $625,000, (or $0.07 per share basic or $0.06 diluted), for the second quarter of 2002. This compares to $13,000, or $0.00 per share, posted in the prior-year period.
For the six months ended June 30, 2002, the company reported net income of $1,084,000 (or $0.11 per share basic and diluted), compared to a loss of $133,000 (or $0.01 per share) for the first six months of 2001.
Overall, Reliv's net sales in the second quarter increased 15 percent compared to the prior-year period. Net sales totaled $15.4 million in 2Q 2002, up from $13.4 million in 2Q 2001.
Robert L. Montgomery, President and Chief Executive Officer of Reliv, said, that sales in the United States - the company's largest geographic market - grew 29 percent compared to 2Q 2001. Revenue growth in international markets climbed 34 percent compared to the year-ago quarter.
Reliv ReversAge(TM), a new dietary supplement, was introduced in Mexico in April 2002 and is selling well, Montgomery noted. Reliv Now(R) for Kids and Reliv Arthaffect(R) were introduced in the Philippines in May 2002.
Mr. Montgomery said, "Along with benefiting from continued sales growth, our second quarter results show the impact of the steps we have taken to reduce expenses. Our core business remains strong, and we fully expect it to provide a solid foundation for ongoing improvements in our earnings performance in the months ahead."
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.
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.