Mannatech Net Sales Hit $39.5 Million in Q4 2021
mannatech released its financial results for the fourth quarter of 2021, revealing a slight increase over the previous quarter, totaling $39.5 million. Operating profit in the fourth quarter was $1 million. This is a significant improvement from the same quarter of 2020, which had an operating loss of $11,000.
Net income in the fourth quarter of 2021 was $2.6 million, or $1.25 per diluted share, compared to net income of $0.7 million ($0.34 per diluted share) for the fourth quarter of 2020. Gross profit as a percentage of net sales improved to 77.5% in the quarter.
Selling, general and administrative expenses increased during the quarter to $7.6 million, while commission as a percentage of net sales was 38.3%. Recruitment in the fourth quarter was down 8.2% compared to the same quarter in 2020. The number of new Independent Associate and Preferred Customer positions fell from 19,675 in the fourth quarter of 2020 to 18,052 in the fourth quarter of 2021.
For the full year, general selling and administrative expenses increased 5.7% to $29.4 million. Gross margin as a percentage of sales in 2021 improved to 78.6% from 76.5% in 2020.
The company’s cash and cash equivalents increased by 8.9% ($2 million) to $24.2 million at the end of 2021.