(RTTNews) - Mannatech, Incorporated (MTEX), a multi-level marketing company selling dietary supplements and personal care products, reported a decline in its earnings for the first quarter.
The company reported net income of $2.19 million, or $1.04 per share, in the first quarter compared with $2.79 million, or $1.15 per share, in the same quarter a year ago.
While the company's sales increased, it recorded an income tax provision of $335000 compared to income tax benefit of $934000 last year.
Net sales for the quarter increased 4.7% to $38.32 million from $36.61 million last year.
The company said new and continuing independent associate and preferred customer positions held by individuals increased to 187,000 from 166,000. It also increased recruitment by 4.6% during the quarter.
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