Acquisition Boosts Natural Health Trend's FY99 Sales
May 1, 2000
Acquisition Boosts Natural Health Trend's FY99 Sales
DENVER--Natural Health Trends Inc. (NASDAQ:NHTC) reported a huge increase in revenuesfor its fiscal year ended Dec. 31, 1999, due largely to the formation of KaireNutraceuticals and the acquisition of all of Kaire International's assets. Revenues jumped1,282 percent to $15.3 million, compared to $1.2 million the previous year. Despite thetop line gains, net loss widened to $7.2 million from $1.3 million lost the year prior.However, net loss per share improved in 1999 to $1.22 per share from $1.49 per share lostthe previous year.
"We are now beginning to realize the benefit from our redirection toward networkmarketing and are pleased with the corresponding revenue growth of NHTC in 1999,"said Mark Woodburn, chief financial officer. "The revenue increase demonstrates ourability to market and sell innovative and proprietary products, as well as our continuingfocus on expanding our product line." Management further noted that NHTC hascommitted to expanding its presence in the business-to-consumer (B2C) e-commerce sector.It intends to utilize its B2C community to reduce expenses and positively impact earningsfor itself and its distributors.
For more information, contact Mark Woodburn at (303) 682-4637.
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