Mannatech, Inc. (NASDAQ:MTEX)’s 4Q Revenue Declines On Currency Translation Impact

Mannatech, Inc. (NASDAQ:MTEX) has unveiled its 4Q2014 and fiscal 2014 results. Revenue for 4Q declined compared to the same period a year ago because of unfavorable foreign exchange translation. On non-GAAP basis, 4Q revenue was up less than 1%.

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Mannatech, Inc. (NASDAQ:MTEX), a maker of health and fitness products, posted 4Q net income of $1.9 million, representing $0.68 a share. That was lower than $2.6 million or $0.94 a share in the same period a year earlier. On the revenue front, Mannatech generated 4Q revenue of $45.2 million, down 2.8% compared to a year ago. The top-line in 4Q was impacted by fluctuations in forex rates. However, adjusting for the impact, top-line increased 0.6% YoY.

4Q Revenue by region

Mannatech, Inc. (NASDAQ:MTEX) noted revenue decline in North America and improvement in international markets, but North America contributed the most revenue at nearly 57.5% of the total revenue for the quarter. Revenue from EMEA region was up 7.1% to $4.5 million. The increased was attributed to $0.3 million increased in the sales of a skin care product and $0.1 million positive impact from deferred revenue. Unfavorable forex rates wiped $0.4 million from the revenue from EMEA region.

For the Asia-Pacific region, revenue was up 4.4% to $21.5 million. Deferred revenue and increase in skin product sales support revenue gain in the region in the quarter.

North American revenue declined 11.5% to $19.2 million. The decline was linked to the drop in the number of members and associated in the region. However, the revenue contribution of North America region edged up in the latest quarter compared to a year ago.

2014 annual performance

For the full-year 2014, Mannatech, Inc. (NASDAQ:MTEX) generated net sales of $190.1 million, above $177.4 million for 2013. The annual revenue was also impacted by the adverse forex rates. Nonetheless, EPS for 2014 was up to $2.40 compared to $1.18 in the previous year.

Standley Adam

Standley Adam

Adam is a staff reporter for US Markets Daily Publications & Media, covering foreign affairs and domestic policy.