News Source: Npros.com
"Reliv International, Inc. (RELV:Reliv International Inc
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Last: 3.18+0.09+2.92%11:47am 05/05/2009
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RELV 3.18, +0.09, +2.9%) , a nutrition and direct selling company, today reported its first quarter results. Net sales for the quarter declined to $23.8 million compared to net sales of $28.3 million in the first quarter of 2008.
Net income for the quarter was $1.0 million or $0.07 per diluted share, compared to net income of $1.5 million or $0.10 per diluted share in the 2008 first quarter.
The company reported a 19 percent increase, however, in the number of new distributors joining Reliv in the quarter, compared to the number joining in the first quarter of 2008. During the first quarter of 2009, Reliv enrolled approximately 8,400 new distributors compared to 7,030 in the prior year quarter.
During the first-quarter of 2009, U.S. net sales totaled $21.4 million, down 13.4 percent from the 2008 first quarter. Sales outside of the United States, were $2.4 million compared to $3.6 million in the prior year quarter. The strengthening of the U.S. dollar accounted for approximately one-half of the reported international sales decline.
Robert L. Montgomery, chairman, president and chief executive officer, said, "In an effort to increase sponsoring this year, beginning in January we began offering distributors half-price distributor kits. I believe that promotion, which will run through August, helped spur some of the new enrollments we saw in the first quarter."
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