Reliv makes record 1Q sales
marketer of nutritional supplements, has posted a healthy set of
first quarter results.
Reliv International, an international manufacturer and network marketer of nutritional supplements, has posted a healthy set of first quarter results.
For the three months ended March 31, 2003 the company reported setting a record for net sales from network marketing activities in a single quarter. It also reported its highest quarterly net income in more than a decade.
In the first quarter of 2003, Reliv's revenues totaled $18.67 million, a 29 per cent increase over the $14.48 million reported in the prior-year period. The company's 1Q 2003 sales represent its largest-ever quarterly revenue total from network marketing activities in its 15-year history.
The company also reported its best quarterly net income performance since 1992, earning $978,000 for the first quarter of 2003. This net income total more than doubles the $459,000 earned in the prior-year period.
Robert L. Montgomery, President and chief executive officer of Reliv, said "Our first quarter results continue the outstanding growth trend we established in 2002. It's gratifying to see the company continue to perform well, despite the economic and war-related uncertainties that consumers face in the United States and many other markets worldwide."
The company reported broad-based gains across its operations, according to Montgomery. Sales in the United States - the company's largest market - grew 27 per cent in the first quarter of 2003 compared to the prior-year period, he said. Several key international markets also achieved double-digit (or better) percentage increases in sales during the quarter, with revenues up 105 per cent in the Philippines, up 24 per cent in Mexico, and up 13 per cent in Canada, he said.
The company also reported strong growth in its network of independent distributors, Montgomery said. New distributor sponsorships grew significantly in each of the company's largest markets, he said - up 32 per cent in the United States, up 54 per cent in Mexico, and up 22 per cent in the Philippines, compared to the first quarter of 2002.
Reliv is based in suburban St. Louis, Missouri, and is the manufactures and distributor of several lines of food products, including nutritional and fiber supplements, diet management products, functional foods, sports drink mixes and a line of premium skin care products. Its proprietary product lines include an extensive line of soy-based products.
