Home Top Movers Mannatech, Inc. (MTEX) Stock on the Rise Following Disclosure of Promising Q1...

Mannatech, Inc. (MTEX) Stock on the Rise Following Disclosure of Promising Q1 2021 Financial Reports

Mannatech, Inc. (MTEX) stock prices were up by a significant 21.32% shortly after the market trading commenced on May 28th, 2021, bringing the price per share up to USD$24.87 early in the trading day.

Net Sales

The company reported net sales for the first quarter of the fiscal year 2021 n the amount of USD$38.3 million, a 4.7% increase over the USD$36.6 million reported for the first quarter of the year prior. Income from operations was also up, this time from USD$2 million in the first quarter of 2020 to USD$2.8 million in the first quarter of 2021.

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Net Income and Gross Profit

Net income was reported to be USD$2.2 million for the first quarter of 2021, representing a net income of USD$1.04 per diluted share. This is up from the USD$2.8 million reported for the first quarter of 2020, representing a net income of USD$1.15 per diluted share. Gross profit as a percentage of sales climbed to 81.2% for the quarter ended March 31st, 2021, up from the 80.9% reported for the same time period of the fiscal year 2020.

Selling and Administrative Expenses

The quarter ended March 31st, 2021 reported an increase in overall selling and administrative expenses, from USD$6.9 million in the first quarter of 2020 to USD$7.1 million for the first quarter of 2021. This difference is largely attributable to a USD$0.3 million increase in payroll expenses and a USD$0.1 million increase in marketing costs. Partially offsetting the yearly difference was a USD$0.1 million decrease in stock-based compensation, as well as a USD$0.1 million decrease in contract labor costs.

Operating Costs

Operating costs for the three-month period ended March 31st, 2021 were down by 4.4%, from USD$5.3 million in Q1 2020 to USD$5.1 million for the first quarter of fiscal 2021. The difference in operating costs from year to year was largely due to a USD$0.3 million decrease in travel and entertainment, as well as a USD$0.1 million decrease in office expenses. The difference was partially offset by a USD$0.2 million increase in consulting fees.

Future Outlook for MTEX

With a promising first quarter of the fiscal year 2021, MTEX is poised to usher in more significant improvements over the upcoming few quarters. The company is keen to untap its potential in the interest of facilitating further growth. Current and potential investors are hopeful that the company will continue to leverage the resources at its disposal to bring in significant and sustained increases in shareholder value.

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