"Reliv Europe has recorded 13 straight quarters of year-over-year growth and continues to show strong momentum," he added. "When compared to the previous year, the number of distributors in Europe increased 79.7 percent in 2012 after climbing 77.4 percent in 2011. We expect to officially open in France in the spring of 2013, our 16 th country of operation. We expect France to provide continued opportunities, momentum and improved economies of scale."
"In the United States, Reliv expanded its exclusive LunaRich product line with the January 2013 introduction of LunaRich X™ (concentrated lunasin in capsule form). We also launched a new points-based LunaRich wellness system, which is an easy-to-understand way for our distributors to share LunaRich products and for customers to design their own LunaRich regimen. We believe this system, the first of its kind at Reliv, will help make the leading-edge science of lunasin easier to understand and make our LunaRich products easier to use," Montgomery said.
"In coordination with our public relations agency, we developed an aggressive campaign to build awareness of lunasin and LunaRich," he added. "LunaRich products have appeared on local TV and in newspapers across the country, and we now are targeting national mainstream media. We believe such exposure will lead to increased demand for our products."
"On March 1, 2013, we implemented a new pricing structure. As the result of higher commodity and ingredient costs, we increased prices — our first in more than four years — however, we also increased servings per unit and cut shipping fees. The resulting price per serving is only pennies higher for most products, and we believe the reduced shipping will help eliminate a common point-of-sale objection," Montgomery said."Our strategic objective to simplify our business and increase efficiency continues to produce results," he added. Reliv reported a reduction in selling, general and administrative expenses of $175,000 for the fourth quarter of 2012 and $1.93 million for all of 2012 compared with the prior-year periods. Reliv had cash and cash equivalents of $5.80 million as of December 31, 2012, a decrease of $1.37 million from the balance as of December 31, 2011. Net cash generated from operating activities decreased to $2.47 million in 2012 from $2.79 million in 2011.
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