Mannatech Shares Drop On 17% Q2 Revenue Decline

by Shivani Kumaresan, Benzinga Staff Writer

August 12, 2022 6:13 PM | 1 min read | Make a Comment

Mannatech Inc MTEX reported a second-quarter FY22 sales decline of 17.7% year-on-year, to $35 million, compared to $42.5 million.
The gross profit for the quarter declined 16.4% to $27.1 million.
The operating expenses for the quarter fell 13.6% to $26.2 million.
The operating margin was 2.4%, and operating income for the quarter rose 136% to $0.9 million.
The company held $21.2 million in cash and equivalents as of June 30, 2022.
EPS for the quarter was $0.34 versus $0.99 last year.
Price action: MTEX shares closed lower by 2.48% at $20.09 on Friday.