Mannatech Reports Mixed Q1 Company Performance

Mannatech Q1 sales were $91.5 million, 12.7% below first quarter 2007 sales of $104.8 million. 


The shortfall occurred in Mannatech’s domestic business, which was more deeply impacted by the overhang of negative publicity and ongoing litigation in Texas as well as the weakening domestic economy and the changeover to a new business development system. Domestic sales, which include the U.S. and Canada, declined 23% versus first quarter 2007. In the same period Mannatech’s international sales grew 14% over prior year, reflecting growth primarily in their Asian markets. Sales in the Republic of South Korea were up almost 50% a year ago, while Japan sales were up over 17% in the first quarter of 2008 compared to the same quarter in 2007. Australia was up slightly and is moving in a positive direction after over a year of soft sales.

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