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CHESTERFIELD, Mo., May 1, 2013 (GLOBE NEWSWIRE) -- Reliv International, Inc. (Nasdaq:RELV), a maker of nutritional supplements that promote optimal health, today reported its financial results for the first quarter of 2013.
Reliv reported net sales of $18.9 million for the first quarter of 2013, compared to net sales of $19.7 million for the first quarter of 2012. U.S. net sales declined by 4.2 percent for the quarter compared to the same quarter in 2012. International net sales for the quarter declined 5.7 percent, with the continued growth in Europe of 26.6 percent offset by declines in Asia and Australia of 55.3 percent and 17.0 percent, respectively.
The company reported net income of $195,000, or $0.02 per diluted share, for the first quarter of 2013 compared to net income of $532,000, or $0.04 per diluted share, for the first quarter of 2012. Income from operations for the first quarter of 2013 was $435,000 compared to $914,000 in the same quarter of 2012.
"Sales declines in Asia and Australia coupled with investments in new staffing in those markets significantly contributed to the decline in profitability overall," said Robert L. Montgomery, chairman and chief executive officer of Reliv. "We have devoted resources and launched a series of enhancements to our business model in these markets in an effort to spur growth. Examples include a preferred customer program in Australia and new programs in the Philippines intended to increase attention and focus on retail sales by distributors. I believe such proactive measures will reenergize these markets."
"Reliv's European expansion continued as the first quarter of 2013 marked Europe's 14th consecutive quarter of year-over-year net sales growth," he added. "France officially became Reliv's 16
th country of operation in April and was celebrated with well-attended events across the country. Momentum in Europe continues to build and we are devoting resources to fuel additional sales growth."
"In the United States, Reliv launched our latest product, LunaRich X™, and a new points-based LunaRich wellness system in January 2013," Montgomery continued. "LunaRich X is the most concentrated form of lunasin currently available. Lunasin is the peptide scientists have identified as the key to many of soy's documented health benefits. LunaRich X has been welcomed enthusiastically by distributors and consumers, accounting for 7.2 percent of U.S. net sales in the first quarter of 2013. We anticipate growth in LunaRich X sales, as additional research is published and market awareness increases."