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 2003 results. The company set records for both net income and net sales earned in a single quarter.
During the three months ended September 30, 2003, Reliv net sales grew to $19.6 million - up 21% compared to the same period in 2002. Net income available to common shareholders reached $1.2 million, an increase of 61% compared to the $741,000 earned in the prior-year period. On a per-share basis, third quarter 2003 earnings totaled $.10 per share ($.09 per share diluted), compared to $.07 per share basic ($.06 per share diluted) in 3Q 2002.
Year-to-date in 2003, Reliv has earned net income available to common shareholders totaling $3.1 million (or $.26 per share basic, $.23 per share diluted), compared to $1.8 million ($.16 per share basic, $0.15 per share diluted) for the first three quarters of 2002.
Robert L. Montgomery, President and Chief Executive Officer of Reliv, attributed the strong growth to solid execution of the company's strategy. "Once again, our operations in the United States set the pace for the company," he said. "However, most of our international markets grew at a double-digit percentage pace, as well."
Reliv net sales in the United States -- the company's largest market -- grew 23 percent compared to the year-ago quarter, Mr. Montgomery said. In addition, international markets such as the United Kingdom, Canada, Australia, New Zealand and Mexico all saw double-digit increases in sales, he said. The company's results also reflect a modest level of sales generated in Malaysia, where Reliv opened for business in September 2003.
"What's truly remarkable about these results is that they're being achieved because our distributors are working the business -- and telling the Reliv story -- more effectively than ever before." Mr. Montgomery noted. In addition, he said, the company continues to add new distributors at a healthy pace -- with 3Q sign-ups increasing 11% in the United States compared to the prior-year period.
Signaling its confidence in the company's prospects for continued growth, the Reliv Board of Directors recently declared a stock split -- issuing one additional share for each four shares owned by shareholders on November 13, 2003.
Based in suburban St. Louis, Reliv manufactures and distributes several lines of food products, including nutritional and fiber supplements, diet management products, functional foods and sports drink mixes. Reliv operates in the United States and eight other countries. Reliv's common stock trades on The NASDAQ Stock Market(R) under the symbol RELV.
The Company will host an earnings conference call at 1:00 p.m. Eastern on Wednesday, November 5, 2003. The call can be accessed via listen-only dial-in conference lines by dialing 913-981-5571. A replay of this call will be available by telephone from 3:00 p.m. Eastern until midnight by calling 719-457-0820 and using the password 115587. To listen to the live call, please call at least 10 minutes before the scheduled conference call to register.
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 . 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 discussed in the Company's filing with the SEC on forms 10-K and 10-Q.