Reliv marks up another sucessful quarter
nutritional supplements, has posted positive global results for the
second fiscal quarter of 2004.
The company's worldwide net sales grew 34 percent during the period reaching $23.89 million, compared to $17.77 million in 2003. Net income rose 32 percent to $1.2 million, or $0.07 per diluted share, up from earnings of $909,000, or $0.05 per diluted share last year.
Reliv continued to experience strong growth in the US, its largest geographic market, where net sales grew by 34 percent. But this was matched on a wider scale, with the company seeing a solid performance in most of its international markets, particularly in Malaysia, the UK, Canada, Australia and New Zealand. This led to a 37 percent improvement in international net sales during the second quarter of 2004, compared to the same period last year.
"It's gratifying to see our strong performance continue," said Robert Montgomery, president and CEO of Reliv. "For nine quarters in a row, we've generated sales growth of at least 20 percent in the US."
The company also announced that its distributor recruitment activities are faring well this year, with enrollments up 35 percent worldwide in the second quarter compared to 2003.
"New enrollments in Malaysia, where the company opened for business last September, and a 20 percent growth in sponsorships in the US, set the pace for the company during the period," said Montgomery.
The firm, which makes its own line of nutritional and fiber supplements, weight management products and skin care, also manufacturers its own range of soy-based products. Earlier this year it received a five-year licence to conduct direct selling in Malaysia. Sales are expected to start in October, and lead to expansion throughout Asia in the rapidly growing supplement markets in the Asia Pacific.
