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CHESTERFIELD, Mo., April 30, 2014 (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 2014.
Reliv reported net sales of $14.5 million for the first quarter of 2014, compared to net sales of $18.9 million for the first quarter of 2013. Net sales in the United States declined by 29.2 percent for the quarter compared to the same quarter in 2013. International net sales for the 2014 first quarter increased 0.7 percent, with growth in Europe of 15.3 percent and in Asia of 10.9 percent offset by declines in other regions, primarily Canada.
The company reported a net loss of $151,000, or $0.01 per diluted share, for the first quarter of 2014 compared to net income of $195,000, or $0.02 per diluted share, for the first quarter of 2013. The loss from operations for the first quarter of 2014 was $170,000 compared to income from operations of $435,000 in the same quarter of 2013.
"In the fall of 2013, Reliv launched a promotion that lowered the sales volume level needed to qualify as a Master Affiliate in the United States. We have since made those reduced Master Affiliate qualification levels permanent and believe, long term, this will make the Reliv business opportunity more accessible to new people and accelerate distributor advancement," said Robert L. Montgomery, chairman and chief executive officer of Reliv. "However, in the short term, this resulted in a shifting of and reduction in requalification orders normally received in January to the fourth quarter of 2013, accounting for much of the 29% decline in net sales in the United States."
"The month of February faced its own set of challenges in the United States," he added. "This year Reliv was forced to cancel a national distributor conference scheduled for February 14-15 in Charlotte due to a major winter storm — the first time in the company's 25-year history it was forced to cancel such an event. The severe winter weather in much of the eastern half of the United States had a negative impact on sales in this quarter, as the excitement and training shared at these and other smaller events weren't able to take place."