Nature's Sunshine(US:NATR)2022-11-06 16:42Financial Performance - Net sales for Q3 2022 were $104.5 million, representing an 8.9% decrease year-over-year, or a 2.0% decline on a constant currency basis[9] - Gross margin for Q3 2022 decreased by 2.8% year-over-year to 71.6%, impacted by supply chain challenges, product mix shift, and increased production, transportation, material, and distribution costs[9] - Operating income for Q3 2022 declined by 50.0% year-over-year to $5.0 million[9] - Net income for Q3 2022 dropped by 98.0% year-over-year to $0.1 million, reflecting sales and gross margin pressures alongside a $1.1 million increase in valuation allowance against deferred tax assets[9] - Adjusted EBITDA for Q3 2022 decreased by 47.3% year-over-year to $6.8 million[9] Balance Sheet & Capital Allocation - Cash and cash equivalents totaled $57.0 million as of September 30, 2022, compared to $86.2 million as of December 31, 2021[11, 12] - Total debt stood at $1.5 million as of September 30, 2022, down from $2.4 million as of December 31, 2021[11, 12] - The company repurchased $1.0 million in shares at an average cost of $10.48 per share in Q3 2022, leaving $24.6 million remaining in the share repurchase program as of September 30, 2022[25] Segment Performance - Asia net sales reached $47.878 million in Q3 2022, showing an 11.9% increase on a constant currency basis compared to Q3 2021[14] - North America net sales declined by 16.5% year-over-year to $31.504 million in Q3 2022, or down 16.3% excluding the impact of currency exchange[14]