FX.co ★ Mannatech Posts Narrower Loss In Q4; Net Sales Down 4.7%

Mannatech Incorporated (MTEX) reported a net loss of $1.8 million in the fourth quarter, equaling $0.94 per share. This is a significant decrease compared to the net loss of $6.5 million, or $3.50 per share, experienced in the fourth quarter of the previous year of 2022. The net sales for the fourth-quarter also saw a drop of 4.7%, coming at $32.7 million compared to the $34.3 million of the corresponding period in 2022.

Stanley Fredrick, the Chairman of the Board of Mannatech, commented on these financial results by stating that the weakened demand throughout the fourth quarter was evident in the decline in sales compared to the same period in the prior year.