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Mannatech Inc. (MTEX) is a globally recognized wellness solution provider established in 1994. The company focuses on developing and selling high-quality nutritional supplements, skincare, anti-aging, and weight-management products that promote optimal health and wellness. Mannatech prides itself on using scientifically backed, natural health products that support the body's natural processes.
The company operates extensively across various regions, including the Americas, Europe, the Middle East, Africa, and the Asia/Pacific regions. Key markets include the United States, Canada, Mexico, South Africa, Australia, New Zealand, several European countries, Japan, Taiwan, Singapore, Hong Kong, and South Korea.
Mannatech's product line is built upon a solid scientific foundation, integrating real food technology solutions that blend the best of science and nature. Unlike many other companies, Mannatech's products are not sold in supermarkets or pharmacies. Instead, they utilize a network of independent associates to distribute their products, ensuring a personalized and customer-centric approach.
Recent achievements highlight Mannatech's commitment to innovation and quality. The company continues to expand its product offerings, exploring new markets and solidifying its presence in existing ones. Financially, Mannatech is stable, with the majority of its revenue generated from the Americas. The company's strategic partnerships and focus on research and development exemplify its dedication to advancing health and wellness.
As Mannatech moves forward, it remains dedicated to sharing its philosophy of combining science and nature to deliver life-changing results for its customers. Investors and consumers alike can expect continued growth and innovation from this established leader in the wellness industry.
Mannatech reported third quarter 2021 net sales of $39.4 million, a 3.9% increase from $38.0 million in Q3 2020. Income from operations rose to $3.3 million, compared to $1.4 million in the prior year. Net income reached $2.9 million, or $1.44 per diluted share, up from $1.6 million, or $0.76 per diluted share in Q3 2020. Year-to-date sales were $120.3 million, a 7.2% increase year-over-year. Recruitment of independent associates declined by 1.4% to 25,036 in Q3 2021.
Mannatech, Incorporated (NASDAQ: MTEX) has approved a share repurchase program to buy back up to $1.0 million of its outstanding common stock. The repurchase will occur in the open market or through negotiated transactions at management's discretion, influenced by market conditions. This initiative begins on September 21, 2021, and concludes either on September 21, 2022, or upon reaching the purchase limit. Mannatech plans to finance the repurchases using available cash, aiming to enhance shareholder value.
Mannatech, Incorporated (NASDAQ: MTEX) has declared a cash dividend of $0.20 per share, payable on September 29, 2021. This dividend is aimed at rewarding shareholders and promoting long-term investment. Shareholders on record as of September 15, 2021 will receive this dividend. CEO Alfredo 'Al' Bala emphasized the company's commitment to delivering value to its investors. Mannatech operates globally in the health and wellness sector, offering products through independent associates in over 25 markets.
Mannatech, Incorporated (NASDAQ: MTEX) reported a strong second quarter for 2021, achieving net sales of $42.5 million, a 12.9% increase from $37.6 million in Q2 2020. Operating income rose to $2.0 million from $1.1 million, while net income reached $2.1 million or $0.99 per diluted share, up from $1.1 million or $0.47 per share in the previous year. Recruitment of independent associates increased by 13.0% to 21,527. However, selling and administrative expenses also rose to $7.6 million.
Mannatech, Incorporated (NASDAQ: MTEX) announced the completion of its cash tender offer, which concluded on June 25, 2021. The company purchased 171,433 shares of its common stock at $26.00 per share, totaling approximately $4.46 million. This represents around 8.31% of its total outstanding shares as of April 30, 2021. The purchase was funded through the company's cash reserves. Mannatech is devoted to enhancing lives with its health and wellness products through a network of independent associates.
Mannatech (NASDAQ: MTEX) announced preliminary results of its cash tender offer to repurchase up to 211,538 shares at $26.00 each, which expired on June 25, 2021. A total of 169,622 shares were properly tendered, with the company expected to accept for payment 174,249 shares at a total cost of approximately $4.5 million, representing around 8.45% of its total outstanding shares. The purchase will be funded from cash on hand. Final numbers will be confirmed following a guaranteed delivery period.
Mannatech (MTEX) reported that its shareholders approved all proposals during the annual shareholder meeting on June 15, 2021. Approximately 70.3% of the 2,063,280 outstanding shares were represented. Key decisions included the election of Larry A. Jobe and Kevin Robbins to the Board of Directors, the ratification of BDO USA, LLP as the independent auditor for the fiscal year 2021, and the advisory approval of executive compensation.
Al Bala, the President and CEO of Mannatech, has been elected to the Board of Directors of the Direct Selling Association (DSA). This is a significant recognition within the direct selling industry. Bala will serve a two-year term, aiming to promote integrity within the sector. He expressed gratitude for the opportunity, reflecting on his personal journey from factory worker to CEO. Mannatech, operational for over 25 years, focuses on health, weight management, fitness, and skincare products through its independent associates.
Mannatech (MTEX) announced a cash tender offer to purchase up to 211,538 shares of its common stock at $26.00 each. The offer aligns with the company's goal to maximize shareholder value, allowing for liquidity and enhanced future earnings potential for remaining shareholders. The tender offer is not contingent on financing and is subject to certain conditions outlined in the SEC filings. This announcement follows a closing share price of $19.84 on May 26, 2021, indicating an increase in value for those participating in the tender offer.
Mannatech (NASDAQ: MTEX) plans a cash tender offer to repurchase up to 211,538 shares of its common stock at a price of $26.00 per share. Georgeson Securities Corporation will manage the tender offer, with Georgeson LLC acting as the information agent and Computershare Trust Company serving as the depositary. The tender offer has not yet started, and there are no guarantees it will proceed as outlined. Shareholders are advised to review the forthcoming tender offer documentation carefully.
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