Natural Health Trends Corp, (NASDAQ: BHIP) announced their second quarter financial results. The company is happy to report that they have continued to grow and improve, and that sales have been growing steadily.
Sales in the second quarter of 2008 were $12.3 million, an improvement over the first quarter of 2008 when sales were $11.4 million. NHT was also pleased that second quarter operating losses fell from $698,000 in the first quarter of 2008 to only $364,000 in the second quarter.
Chris Sharng, the company’s president, said, “We were very pleased to see our cost-cutting and revenue-generating efforts begin to pay off in the second quarter. We stabilized our cash balance, and operating earnings of the business were positive, considering non-cash items such as depreciation and stock-based compensation totaled $500,000. We believe that the nascent revenue momentum we gained through certain personnel changes, compensation plan changes and dynamic training sessions were the drivers of this improvement.
The company expects that the summer season will be a bit slower, and coupled with Olympics which will affect their sales in Asia, they might see the numbers fall a bit. NHT says in the next quarter they will continue to focus on ways to improve gross profit margin as well as maintaining revenue momentum.
Unfortunately for the company, the stock has not responded very well over the past year. Hitting a 52-week high of over $7 per share, the price has been languishing at or below $1 for most of 2008.
If you could not be a part of the conference call that they company held today, not to worry, full second quarter results are available on the company’s website on the conference call page.
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