Core Viewpoint - Nature's Sunshine Products, Inc. has appointed Mr. Steven Fasching to its board of directors, effective November 6, 2024, expanding the board to nine members, with eight being independent directors [1][2]. Group 1: Appointment Details - Mr. Steven Fasching brings significant financial expertise and public company experience, having served as Chief Financial Officer of Deckers Brands since June 2018 [2]. - Fasching has over 30 years of experience in financial and strategic planning for multi-billion-dollar organizations, enhancing the leadership of Nature's Sunshine as it undergoes business transformation [2]. Group 2: Company Overview - Nature's Sunshine Products is a leading manufacturer of herbal and nutritional supplements, marketing and distributing products in over 40 countries [3]. - The company manufactures most of its products in state-of-the-art facilities to ensure high quality, safety, and efficacy [3].

| --- | --- | --- | --- | |------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | CONNECT WITH | | | | | | | | | | NATURE | | | | | Q3 2024 Earnings Presentation November 7, 2024 | | | | | | | | | | | | | | S A F E H A R B O R S T A T E M E N T S Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements regarding the Company's future business expectations, which are subject to the safe harbor provis ...

Financial Performance - Net sales for the three months ended September 30, 2024, were $114,615, an increase from $111,202 in the same period of 2023, representing a growth of 2.2%[7] - Gross profit for the three months ended September 30, 2024, was $81,759, slightly up from $81,238 in the prior year, indicating a stable gross margin[7] - Operating income for the three months ended September 30, 2024, was $5,284, compared to $5,832 in the same period of 2023, reflecting a decrease of 9.4%[7] - Net income attributable to common shareholders for the three months ended September 30, 2024, was $4,347, up from $2,832 in the same period of 2023, marking a significant increase of 53.4%[7] - For the nine months ended September 30, 2024, net sales were $336,159, slightly down from $336,384 in the same period of 2023, indicating a marginal decline of 0.1%[9] - Operating income for the nine months ended September 30, 2024, increased to $15,545 from $13,041 in the same period of 2023, representing a growth of 19.2%[9] - Basic earnings per share attributable to common shareholders for the three months ended September 30, 2024, were $0.23, compared to $0.15 in the same period of 2023, an increase of 53.3%[7] - The net income for the nine months ended September 30, 2024, was $8,624,000, compared to $7,072,000 for the same period in 2023, representing a year-over-year increase of approximately 22%[18] - Net income for the three months ended September 30, 2024, was $4.6 million, a 47.9% increase from $3.1 million in the same period in 2023[92] Assets and Liabilities - Total assets as of September 30, 2024, were $245,333, a decrease from $249,773 as of December 31, 2023[6] - Total liabilities decreased to $82,716 as of September 30, 2024, from $90,233 as of December 31, 2023, reflecting a reduction of 8.3%[6] - Total shareholders' equity increased to $162,617 as of September 30, 2024, from $159,540 as of December 31, 2023, indicating a growth of 1.3%[6] - The company reported cash and cash equivalents of $78,704,000 at the end of the period, down from $82,373,000 at the beginning of the period[18] - The total stock amount decreased from $119,694,000 at December 31, 2023, to $113,946,000 at September 30, 2024[14] - Working capital increased to $96.4 million as of September 30, 2024, compared to $89.1 million at the end of 2023[124] Share Repurchase and Compensation - The company repurchased common stock totaling $8,436,000 during the nine months ended September 30, 2024[18] - The company repurchased 509,000 shares of common stock for $8.4 million during the nine months ended September 30, 2024, compared to 180,000 shares for $2.2 million in the same period of 2023[36] - Share-based compensation expense for the nine months ended September 30, 2024, was $3,580,000, slightly down from $3,790,000 in the same period of the previous year[18] - Share-based compensation expense related to time-based RSUs for the three-month period ended September 30, 2024, was approximately $0.7 million, a decrease from $1.0 million in the same period of 2023[45] Sales by Region - Net sales in Asia for the three months ended September 30, 2024, were $55.3 million, up from $52.2 million in the same period of 2023[51] - The United States, Taiwan, and South Korea each contributed over 10% of consolidated net sales for the three months ended September 30, 2024[53] - North America net sales for Q3 2024 were $33.6 million, a decrease of 3.3% compared to $34.8 million in Q3 2023[102] - Latin America net sales for Q3 2024 increased to $6.1 million, reflecting a 12.0% growth from $5.4 million in Q3 2023[105] - In Europe, net sales for the three months ended September 30, 2024, were $19.6 million, a 4.5% increase from $18.8 million in the same period of 2023[101] Expenses and Taxation - Cost of sales increased by $2.9 million to $32.9 million, with the cost as a percentage of net sales rising to 28.7% from 26.9%[92] - Selling, general and administrative (SG&A) expenses decreased by $0.3 million to $40.9 million, representing 35.7% of net sales, down from 37.1%[90] - The provision for income taxes for the three months ended September 30, 2024, was 41.2%, compared to 35.9% for the same period in 2023[59] - The effective tax rate for the nine months ended September 30, 2024, was 49.2%, up from 43.6% for the same period in 2023[59] Cash Flow and Financing - The company reported a net cash provided by operating activities of $13,114,000 for the nine months ended September 30, 2024, compared to $31,628,000 in the same period of 2023[18] - Financing activities used $9.3 million in cash for the nine months ended September 30, 2024, compared to $3.4 million in the same period of 2023, including $8.4 million for share repurchases[128] - The company had no outstanding balance under the revolving credit agreement as of September 30, 2024, with a borrowing limit of $25 million[30] Market Conditions and Outlook - The company anticipates continued impacts from inflation, particularly from higher costs of raw materials and labor[87] - The company expects foreign currency fluctuations to continue to impact net sales and operating expenses significantly[91] - The company expects to recognize an additional $2.7 million of potential share-based compensation expense related to performance-based RSUs[46] Company Overview - The company’s product line includes over 800 products across various health categories, manufactured primarily in Spanish Fork, Utah[117] - The company markets its products through a network of independent consultants, providing them with incentives and support[119]

Financial Performance - Net sales for Q3 2024 increased by 3% to $114.6 million compared to $111.2 million in Q3 2023, with a 4% increase in constant currency[1][3] - GAAP net income attributable to common shareholders rose to $4.3 million, or $0.23 per diluted share, up from $2.8 million, or $0.15 per diluted share in the prior year[1][8] - Adjusted EBITDA increased by 5% to $10.7 million compared to $10.3 million in the same quarter last year[1][9] - Operating income decreased to $5.3 million, or 4.6% of net sales, compared to $5.8 million, or 5.2% of net sales in Q3 2023[1][6] - Other income for Q3 2024 was $2.6 million, compared to a loss of $0.9 million in Q3 2023, primarily due to foreign exchange gains in Asia[1][7] - Net income for the three months ended September 2024 was $4,646 million, up from $3,142 million in the same period last year, representing a 48% increase[32] - Reported income attributable to common shareholders for the three months ended September 2024 was $4,347 million, compared to $2,832 million in the prior year, a 53% increase[32] Sales and Revenue - The Asia segment reported net sales of $55.3 million, a 5.9% increase year-over-year, with an 8.6% increase excluding currency impact[3][3] - Full year 2024 net sales are now expected to range between $443 million and $448 million, adjusted EBITDA is projected to be between $40 million and $42 million[1][11] - Net sales for Q3 2024 were $114,615, an increase of 3.7% compared to $111,202 in Q3 2023[26] Profitability Metrics - Gross profit margin decreased to 71.3% from 73.1% year-over-year, impacted by higher inflation and unfavorable foreign exchange[1][4] - Basic earnings per share attributable to common shareholders increased to $0.23 in Q3 2024 from $0.15 in Q3 2023, representing a 53.3% increase[26] - Basic income per share, as reported, increased to $0.23 for the three months ended September 2024, compared to $0.15 in the prior year, marking a 53% rise[32] - Diluted income per share, as adjusted, was $0.27 for the three months ended September 2024, up from $0.15 in the same period last year, indicating an 80% increase[32] Cash and Assets - Cash and cash equivalents as of September 30, 2024, were $78.7 million with zero debt[1][10] - Cash and cash equivalents at the end of Q3 2024 were $78,704, down from $82,373 at the beginning of the period[29] - Total current assets decreased to $163,529 as of September 30, 2024, from $165,817 at the end of 2023, a decline of 1.4%[28] Liabilities and Equity - Total liabilities decreased to $82,716 as of September 30, 2024, from $90,233 at the end of 2023, a reduction of 8.2%[28] - Shareholders' equity increased to $162,617 as of September 30, 2024, compared to $159,540 at the end of 2023, an increase of 1.3%[28] Year-to-Date Performance - The company reported a net income of $8,624 for the nine months ended September 30, 2024, compared to $7,072 for the same period in 2023, reflecting a growth of 21.9%[30] - Adjusted EBITDA for the nine months ended September 30, 2024, was $30,277, slightly down from $30,692 in the same period of 2023[30] - Non-GAAP net income attributable to common shareholders for the nine months ended September 2024 was $8,819 million, compared to $9,750 million for the same period in 2023, reflecting a decrease of 9%[32] - The company reported a total net income of $8,624 million for the nine months ended September 2024, compared to $7,072 million for the same period in 2023, an increase of 22%[32] - Basic income per share, as adjusted, for the nine months ended September 2024 was $0.47, down from $0.51 in the same period last year, a decrease of 8%[32] Adjustments and Other Factors - Total adjustments for the three months ended September 2024 amounted to $802 million, with significant contributions from loss on sale of property and equipment and restructuring expenses[32] - Total adjustments for the nine months ended September 2024 were $802 million, with a significant prior year adjustment of $3,636 million impacting comparability[32] - The company experienced a VAT refund adjustment of $(992) million for the three months ended September 2024, impacting overall net income[32]

Core Viewpoint - Nature's Sunshine Products, Inc. reported a 3% increase in net sales for Q3 2024, driven by customer growth in Asia and Central Europe, despite macroeconomic challenges in China [1][2][3]. Financial Performance - Net sales for Q3 2024 reached $114.6 million, up from $111.2 million in Q3 2023, representing a 3% increase (4% in constant currency) [1][3]. - GAAP net income attributable to common shareholders increased to $4.3 million, or $0.23 per diluted share, compared to $2.8 million, or $0.15 per diluted share in the prior year [1][7]. - Adjusted EBITDA rose by 5% to $10.7 million from $10.3 million year-over-year [1][8]. Segment Performance - Net sales by region showed varied performance: - Asia: $55.3 million, up 5.9% (8.6% excluding currency impact) [3]. - Europe: $19.6 million, up 4.5% [3]. - North America: $33.6 million, down 3.3% [3]. - Latin America and Other: $6.1 million, up 12.0% [3]. Cost and Expenses - Gross profit margin decreased to 71.3% from 73.1% due to inflation and unfavorable foreign exchange impacts [4]. - Selling, general and administrative expenses (SG&A) were $41.0 million, slightly down from $41.3 million, with SG&A as a percentage of net sales improving to 35.7% from 37.1% [5]. Income and Other Financial Metrics - Operating income decreased to $5.3 million (4.6% of net sales) from $5.8 million (5.2% of net sales) [6]. - Other income, net, was $2.6 million compared to a loss of $0.9 million in the previous year, primarily from foreign exchange gains in Asia [6]. Outlook - The company expects full-year 2024 net sales to be between $443 million and $448 million, and adjusted EBITDA to range from $40 million to $42 million [10].

LEHI, Utah, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (Nature’s Sunshine), a leading natural health and wellness company offering high-quality herbal and nutritional products, will conduct a conference call on Thursday, November 7, 2024, at 5:00 p.m. Eastern time (3:00 p.m. Mountain time) to discuss its financial results for the third quarter ended September 30, 2024. The company will report its financial results in a press release prior to the conference call. Nature ...

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LEHI, Utah, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Nature's Sunshine Products, Inc. (Nasdaq: NATR), a leading manufacturer of high-quality herbal and nutritional supplements, announced that an equipment malfunction occurred at their Spanish Fork, Utah manufacturing facility early yesterday morning. The facility was evacuated and local emergency services were called to the scene to help manage the incident. All personnel are safe and accounted for, and two individuals were seen by EMTs and released to leave the f ...

LEHI, Utah, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Nature's Sunshine Products, Inc. (Nasdaq: NATR), a leading natural health and wellness company offering high-quality herbal and nutritional products, is confirmed to present at the 2024 Annual Gateway Conference, which is being held September 4th and 5th at the Four Seasons Hotel in San Francisco, CA. Nature's Sunshine's management team is scheduled to present on Wednesday, September 4 at 8:30 a.m. Pacific Time (PT). The presentation will be webcast live and ava ...

Financial Performance - Net sales for the three months ended June 30, 2024, were $110,551,000, a decrease of 5.7% compared to $116,548,000 for the same period in 2023[7] - Gross profit for the three months ended June 30, 2024, was $78,887,000, down from $84,624,000 in the prior year, reflecting a gross margin decrease[7] - Operating income for the three months ended June 30, 2024, was $5,637,000, compared to $7,037,000 for the same period in 2023, indicating a decline of 19.9%[7] - Net income attributable to common shareholders for the three months ended June 30, 2024, was $1,349,000, down from $2,422,000 in the same period last year, representing a decrease of 44.3%[7] - For the six months ended June 30, 2024, net sales were $221,544,000, a slight decrease of 1.4% compared to $225,182,000 for the same period in 2023[9] - Basic earnings per share attributable to common shareholders for the six months ended June 30, 2024, increased to $0.20 from $0.17 in the prior year[9] - The company reported a total comprehensive income of $2,540,000 for the six months ended June 30, 2024, compared to $1,032,000 for the same period in 2023[12] - Net income for the six months ended June 30, 2024, was $3,978 thousand, compared to $3,930 thousand for the same period in 2023, reflecting a growth of 1.2%[17] - Consolidated net sales for Q2 2024 decreased by 5.1% to $110.6 million compared to $116.5 million in Q2 2023[78] - Operating income for Q2 2024 was $5.6 million, a decrease of 19.9% from $7.0 million in Q2 2023[81] - Net income for Q2 2024 was $1.5 million, down 44.4% from $2.7 million in Q2 2023[81] Assets and Liabilities - Total assets as of June 30, 2024, were $235,831,000, a decrease from $249,773,000 as of December 31, 2023[6] - Total liabilities decreased to $79,431,000 as of June 30, 2024, from $90,233,000 at the end of 2023, reflecting a reduction of 11.9%[6] - Total shareholders' equity as of June 30, 2024, was $156,400 thousand, a decrease from $159,707 thousand as of March 31, 2024[14] - Cash and cash equivalents at the end of the period on June 30, 2024, were $68,695 thousand, slightly down from $68,970 thousand at the end of June 30, 2023[17] - As of June 30, 2024, working capital was $88.4 million, slightly down from $89.1 million as of December 31, 2023[105] Expenses - Selling, general and administrative expenses decreased to $79.3 million for the six months ended June 30, 2024, down from $85.9 million in the same period in 2023, representing a 7.7% reduction[96] - Total selling, general, and administrative expenses for the three months ended June 30, 2024, were $38,557 thousand, down from $42,273 thousand in the same period in 2023[48] - Depreciation and amortization expenses for the six months ended June 30, 2024, were $6,659 thousand, compared to $5,638 thousand for the same period in 2023, reflecting an increase of 18.1%[17] - Cost of sales as a percentage of net sales increased to 28.6% in Q2 2024 from 27.4% in Q2 2023[79] - Cost of sales as a percentage of net sales increased to 28.7% for the six months ended June 30, 2024, compared to 28.3% for the same period in 2023[94] Shareholder Activities - The company repurchased common stock amounting to $7,725 thousand during the six months ended June 30, 2024, compared to $920 thousand in the same period of the previous year[17] - The company repurchased 453,000 shares for $7.7 million during the six months ended June 30, 2024, compared to 99,000 shares for $0.9 million in the same period of 2023[36] - As of June 30, 2024, the remaining balance available for share repurchases under the program was $9.9 million[36] Foreign Exchange and Taxation - The company experienced a foreign currency translation loss of $1,438,000 for the six months ended June 30, 2024, compared to a loss of $2,898,000 in the prior year[12] - The company experienced foreign exchange losses of $1,543 thousand during the six months ended June 30, 2024, compared to a gain of $309 thousand in the same period in 2023[17] - The provision for income taxes for the three months ended June 30, 2024, was 66.4% of income before income taxes, compared to 55.0% for the same period in 2023[55] - The effective tax rate for the six months ended June 30, 2024, was 56.2%, compared to 48.5% for the same period in 2023[98] Market Performance - Service fees in China totaled $3.8 million for the three months ended June 30, 2024, compared to $5.2 million for the same period in 2023[49] - Net sales from the United States for the three months ended June 30, 2024, were $30,948 thousand, a decrease of 3.5% from $32,088 thousand in 2023[49] - In Asia, net sales decreased by 8.9% to $49.98 million for the three months ended June 30, 2024[84] - Net sales in the Asia segment decreased by 5.0% to $96.2 million for the six months ended June 30, 2024, compared to $101.2 million for the same period in 2023[87] - In Europe, net sales increased by 2.9% to $43.9 million for the six months ended June 30, 2024, compared to $42.6 million for the same period in 2023[90] - North America segment net sales increased by 1.1% to $70.1 million for the six months ended June 30, 2024, compared to $69.3 million for the same period in 2023[91] - Latin America and Other markets saw a decrease in net sales of 5.5% to $11.4 million for the six months ended June 30, 2024, compared to $12.0 million for the same period in 2023[92] Legal and Regulatory Matters - The company is involved in legal proceedings and disputes, which may require adjustments to estimated liabilities that could materially affect results of operations[116] - The provision for income taxes reflects management's best assessment of estimated future taxes to be paid, with significant judgments required in determining the consolidated provision[117] - Deferred income taxes arise from temporary differences, and management evaluates the ability to recover deferred tax assets based on various assumptions[118] - The company intends to grow international operations, which are affected by fluctuations in currency exchange rates and other uncertainties[120]