Nature's Sunshine Reports Historic Fourth Quarter and Full Year 2020 Results, Introduces Capital Allocation Strategy
Nature’s Sunshine Products (Nasdaq: NATR) reported a powerful fourth quarter for 2020, achieving record net sales of $101.7 million, a 11% increase from the previous year. GAAP net income soared 445% to $6.7 million, equivalent to $0.29 per diluted share. The company declared a special cash dividend of $1.00 per share and announced a $15 million share repurchase program. Full-year sales reached $385.2 million, marking a 6% increase from 2019. Despite increased SG&A expenses, the firm continues to prioritize financial stability and future growth initiatives.
- Net sales increased 11% to a record $101.7 million in Q4 2020.
- GAAP net income rose 445% to $6.7 million, or $0.29 per diluted share.
- Full-year net sales climbed 6% to $385.2 million.
- Declared a special cash dividend of $1.00 per share.
- Announced a $15 million share repurchase program.
- Selling, general and administrative expenses increased to $38.4 million in Q4 2020 from $32.7 million a year earlier.
- Operating income in Q4 2020 decreased to $2.2 million (2.2% of net sales) from $3.9 million (4.3% of net sales) year-over-year.
- Fourth Quarter 2020 Net Sales Increase
- Board of Directors Declares Special Cash Dividend of
- Announces
LEHI, Utah, March 10, 2021 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (Nature’s Sunshine), a leading natural health and wellness company of high-quality herbal and nutritional products, reported financial results for the fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Financial Highlights vs. Same Year-Ago Quarter
- Net sales increased
11% to a company record$101.7 million compared to$91.7 million . - GAAP net income increased
445% to$6.7 million , or$0.29 per diluted share, compared to$1.2 million , or$0.05 per diluted share. - Adjusted net income per diluted share was
$0.32 , compared to an adjusted net income per diluted share of$0.05 . - Adjusted EBITDA was
$7.5 million compared to$7.6 million .
Full Year 2020 Financial Highlights vs. 2019
- Net sales increased
6% to a company record$385.2 million compared to$362.2 million - GAAP net income increased significantly to
$23.0 million , or$1.07 per diluted share, compared to$6.9 million , or$0.34 per diluted share. - Adjusted net income per diluted share was
$1.07 , compared to an adjusted net income per diluted share of$0.42 . - Adjusted EBITDA increased
16% to$36.2 million compared to$31.2 million .
Capital Allocation
Nature’s Sunshine’s capital allocation initiatives will be prioritized in three areas of its business: first is maintaining the Company’s financial strength and stability; second is the investment in incremental organic growth or strategic M&A opportunities; and third is future dividends or targeted share repurchases where opportunities arise. As such, Nature’s Sunshine is announcing today that its board of directors declared a special cash dividend of
Management Commentary
“Our momentum continued in the fourth quarter of 2020, as we outperformed the net sales record we achieved just last quarter, making 2020 full-year sales the highest in the Company's 48-year history,” said Terrence Moorehead, CEO of Nature’s Sunshine. “All four of our global operating business units generated absolute growth, reflecting sustained consumer demand in the U.S. and China, and the continued success of our new business model and revamped field fundamentals in Europe and LATAM. For the full year, we made consistent progress with our five global growth strategies, allowing us to drive year-over-year net sales growth and significant increases in both net income and adjusted EBITDA. Our team’s dedication around the world has allowed us to further optimize our platform for sustainable long-term growth into 2021.
“Throughout the geographies in which we operate, distributors and customers have responded positively to our new branding and business model we launched during the third quarter. We have experienced meaningful growth in new customer acquisition and membership in our ‘Subscribe and Thrive’ program, and we remain committed to supporting the consultants, health practitioners and retailers within our distributor base as they transition to our revitalized model. Our enhanced organizational structure, digital and manufacturing capabilities, and field fundamentals are already driving material improvements in our go-to-market approach. These initiatives remain a core tenet of our capital allocation priorities as we focus on investing ahead of our growth and activating more customers around the world.
“But as we are announcing today, our record financial performance has also positioned us to return a meaningful amount of capital to our shareholders. We are proud of our financial success during 2020 despite the economic and operating challenges posed by the COVID-19 pandemic. Our capital allocation initiatives will be prioritized in three areas of our business: first and foremost is maintaining our financial strength and stability; second is the investment in incremental organic growth opportunities and/or strategic M&A transactions; and third is future dividends or share repurchases where opportunities arise.
“I am proud of the progress we have made with our five global growth strategies in 2020 and the success we have generated with our transformation initiatives to date. We believe our company’s growth trajectory is only just beginning, and we look forward to further maximizing the value we create for our customers, distributors and shareholders in the year ahead.”
Fourth Quarter 2020 Financial Results
Net Sales by Operating Segment (Amounts in Thousands) | |||||||||||||||||||
Three Months Ended December 31, 2020 | Three Months Ended December 31, 2019 | Percent Change | Impact of Currency Exchange | Percent Change Excluding Impact of Currency | |||||||||||||||
Asia | $ | 36,903 | $ | 36,061 | 2.3 | % | $ | 1,789 | (2.6 | )% | |||||||||
Europe | 23,590 | 17,211 | 37.1 | 349 | 35.0 | ||||||||||||||
North America | 34,696 | 32,859 | 5.6 | 32 | 5.5 | ||||||||||||||
Latin America and Other | 6,554 | 5,564 | 17.8 | (167 | ) | 20.8 | |||||||||||||
$ | 101,743 | $ | 91,695 | 11.0 | % | $ | 2,003 | 8.8 | % |
Net sales in the fourth quarter of 2020 increased
Gross margin in the fourth quarter of 2020 remained flat at
Volume incentives as a percentage of net sales in the fourth quarter of 2020 remained flat at
Selling, general and administrative expenses in the fourth quarter of 2020 were
Operating income in the fourth quarter of 2020 was
Other income, net, in the fourth quarter of 2020 was
GAAP net income attributable to common shareholders in the fourth quarter of 2020 was
Adjusted net income attributable to common shareholders in the fourth quarter of 2020 was
Adjusted EBITDA in the fourth quarter of 2020 was
Full Year 2020 Financial Results
Net Sales by Operating Segment (Amounts in Thousands) | |||||||||||||||
Year Ended December 31, 2020 | Year Ended December 31, 2019 | Percent Change | Impact of Currency Exchange | Percent Change Excluding Impact of Currency | |||||||||||
Asia | $ | 138,717 | $ | 138,536 | 0.1 | % | $ | 19 | 0.1 | % | |||||
Europe | 77,688 | 62,523 | 24.3 | 156 | 24.0 | ||||||||||
North America | 145,481 | 138,163 | 5.3 | (105 | ) | 5.4 | |||||||||
Latin America and Other | 23,319 | 22,993 | 1.4 | (839 | ) | 5.1 | |||||||||
$ | 385,205 | $ | 362,215 | 6.3 | % | $ | (769 | ) | 6.6 | % |
Net sales in 2020 increased
Gross margin in 2020 was
Volume incentives as a percentage of net sales in 2020 were
Selling, general and administrative expenses in 2020 were
Operating income in 2020 increased
Other income, net, in 2020 increased significantly to
GAAP net income attributable to common shareholders in 2020 was
Adjusted net income attributable to common shareholders in 2020 was
Adjusted EBITDA in 2020 increased
Balance Sheet and Cash Flow
Net cash provided by operating activities was
Conference Call
The Company will hold a conference call today at 5:00 p.m. Eastern time to discuss its fourth quarter and full year 2020 results.
Date: Wednesday, March 10, 2021
Time: 5:00 p.m. Eastern time (3:00 p.m. Mountain time)
Toll-free dial-in number: 1-888-394-8218
International dial-in number: 1-323-701-0225
Conference ID: 9072663
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 1-949-574-3860.
The conference call will be broadcast live and available for replay here and via the Events section of the Nature’s Sunshine website here.
A replay of the conference call will be available after 8:00 p.m. Eastern time on the same day through March 24, 2021.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 9072663
About Nature’s Sunshine Products
Nature’s Sunshine Products (Nasdaq: NATR), a leading natural health and wellness company, markets and distributes nutritional and personal care products in more than 40 countries. Nature’s Sunshine manufactures most of its products through its own state-of-the-art facilities to ensure its products continue to set the standard for the highest quality, safety and efficacy on the market today. Additional information about the company can be obtained at its website, www.naturessunshine.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding the Company’s future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans, strategies and financial results. All statements (other than statements of historical fact) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, including the following:
- laws and regulations regarding direct selling may prohibit or restrict our ability to sell our products in some markets or require us to make changes to our business model in some markets;
- extensive government regulations to which the Company's products, business practices and manufacturing activities are subject;
- registration of products for sale in foreign markets, or difficulty or increased cost of importing products into foreign markets;
- legal challenges to the Company's direct selling program or to the classification of its independent consultants;
- liabilities and obligations arising from improper activity by the Company’s independent consultants;
- product liability claims;
- our cannabidiol (CBD) product line is subject to varying, rapidly changing laws, regulations, and rules;
- actions on trade relations by the U.S. and foreign governments;
- impact of anti-bribery laws, including the U.S. Foreign Corrupt Practices Act;
- the Company’s ability to attract and retain independent consultants;
- the loss of one or more key independent consultants who have a significant sales network;
- the Company’s joint venture for operations in China with Fosun Industrial Co., Ltd.;
- the effect of fluctuating foreign exchange rates;
- failure of the Company’s independent consultants to comply with advertising laws;
- changes to the Company’s independent consultants compensation plans;
- geopolitical issues and conflicts;
- we may be adversely affected by the ongoing coronavirus pandemic;
- negative consequences resulting from difficult economic conditions, including the availability of liquidity or the willingness of the Company’s customers to purchase products;
- risks associated with the manufacturing of the Company's products;
- uncertainties relating to the application of transfer pricing, duties, value-added taxes, and other tax regulations, and changes thereto;
- changes in tax laws, treaties or regulations, or their interpretation;
- cybersecurity threats and exposure to data loss;
- the storage, processing, and use of data, some of which contain personal information, are subject to complex and evolving privacy and data protection laws and regulations;
- reliance on information technology infrastructure; and
- the sufficiency of trademarks and other intellectual property rights.
These and other risks and uncertainties that could cause actual results to differ from predicted results are more fully detailed under the caption “Risk Factors” in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports filed on Form 10-Q.
All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference into this press release. Except as is required by law, the Company expressly disclaims any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this press release.
Non-GAAP Financial Measures
We have included information which has not been prepared in accordance with generally accepted accounting principles (GAAP), such as information concerning non-GAAP net income, Adjusted EBITDA and net sales excluding the impact of foreign currency exchange fluctuations.
We utilize the non-GAAP measures of non-GAAP net income and Adjusted EBITDA in the evaluation of our operations and believe that these measures are useful indicators of our ability to fund our business. These non-GAAP financial measures should not be considered as an alternative to, or more meaningful than, U.S. GAAP net income as an indicator of our operating performance.
Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of Nature’s Sunshine Products’ performance in relation to other companies. We have included a reconciliation of Net Income to Adjusted EBITDA, the most comparable GAAP measure. We have also included a reconciliation of GAAP net income to Non-GAAP net income and Non-GAAP Adjusted EPS, in the financial tables below.
Net sales in local currency removes, from net sales in U.S. dollars, the impact of changes in exchange rates between the U.S. dollar and the functional currencies of our foreign subsidiaries. This is accomplished by translating the current period net sales into U.S. dollars using the same foreign currency exchange rates that were used to translate the net sales for the previous comparable period.
We believe presenting the impact of foreign currency fluctuations is useful to investors because it allows a more meaningful comparison of net sales of our foreign operations from period to period. Net sales excluding the impact of foreign currency fluctuations should not be considered in isolation or as an alternative to net sales in U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
Investor Relations:
Gateway Investor Relations
Cody Slach
1-949-574-3860
NATR@gatewayir.com
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share information)
(Unaudited)
Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||||
Net sales | $ | 101,743 | $ | 91,695 | $ | 385,205 | $ | 362,215 | |||||||||||
Cost of sales | (26,403 | ) | (23,862 | ) | (101,276 | ) | (93,940 | ) | |||||||||||
Gross profit | 75,340 | 67,833 | 283,929 | 268,275 | |||||||||||||||
Operating expenses: | |||||||||||||||||||
Volume incentives | 34,657 | 31,233 | 131,150 | 123,410 | |||||||||||||||
Selling, general and administrative | 38,434 | 32,692 | 131,297 | 128,740 | |||||||||||||||
Operating income | 2,249 | 3,908 | 21,482 | 16,125 | |||||||||||||||
Other income (loss), net | 1,569 | 502 | 1,339 | (483 | ) | ||||||||||||||
Income before provision for income taxes | 3,818 | 4,410 | 22,821 | 15,642 | |||||||||||||||
Provision (benefit) for income taxes | (2,832 | ) | 3,190 | (137 | ) | 8,713 | |||||||||||||
Net income | 6,650 | 1,220 | 22,958 | 6,929 | |||||||||||||||
Net income attributable to noncontrolling interests | 784 | 218 | 1,621 | 164 | |||||||||||||||
Net income attributable to common shareholders | $ | 5,866 | $ | 1,002 | $ | 21,337 | $ | 6,765 | |||||||||||
Basic and diluted net income per common share: | |||||||||||||||||||
Basic earnings per share attributable to common shareholders | $ | 0.30 | $ | 0.05 | $ | 1.09 | $ | 0.35 | |||||||||||
Diluted earnings per share attributable to common shareholders | $ | 0.29 | $ | 0.05 | $ | 1.07 | $ | 0.34 | |||||||||||
Weighted average basic common shares outstanding | 19,670 | 19,374 | 19,537 | 19,314 | |||||||||||||||
Weighted average diluted common shares outstanding | 20,022 | 19,659 | 19,968 | 19,663 |
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)
As of December 31, | 2020 | 2019 | |||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 92,069 | $ | 53,629 | |||
Accounts receivable, net of allowance for doubtful accounts of | 7,375 | 7,319 | |||||
Inventories | 47,683 | 46,666 | |||||
Prepaid expenses and other | 6,938 | 5,091 | |||||
Total current assets | 154,065 | 112,705 | |||||
Property, plant and equipment, net | 54,355 | 59,512 | |||||
Operating lease right-of-use assets | 20,210 | 23,951 | |||||
Restricted investment securities - trading | 989 | 1,150 | |||||
Deferred income tax assets | 8,693 | 4,899 | |||||
Other assets | 11,186 | 10,851 | |||||
$ | 249,498 | $ | 213,068 | ||||
Liabilities and Shareholders’ Equity | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 6,486 | $ | 4,406 | |||
Accrued volume incentives and service fees | 19,481 | 18,893 | |||||
Accrued liabilities | 31,710 | 25,531 | |||||
Deferred revenue | 2,092 | 1,266 | |||||
Current installments of long-term debt and revolving credit facility | 1,306 | — | |||||
Related party note | 1,200 | 1,518 | |||||
Income taxes payable | 2,387 | 1,392 | |||||
Current portion of operating lease liabilities | 4,992 | 4,941 | |||||
Total current liabilities | 69,654 | 57,947 | |||||
Liability related to unrecognized tax benefits | 92 | 1,499 | |||||
Long-term portion of operating lease liabilities | 16,412 | 20,213 | |||||
Long-term debt and revolving credit facility | 2,418 | — | |||||
Deferred compensation payable | 989 | 1,150 | |||||
Long-term deferred income tax liabilities | 1,391 | 1,655 | |||||
Other liabilities | 1,308 | 1,168 | |||||
Total liabilities | 92,264 | 83,632 | |||||
Shareholders’ equity: | |||||||
Common stock, no par value; 50,000 shares authorized, 19,697 and 19,410 shares issued and outstanding as of December 31, 2020, and 2019, respectively | 139,311 | 135,741 | |||||
Retained earnings | 26,030 | 4,693 | |||||
Noncontrolling interests | 1,848 | 227 | |||||
Accumulated other comprehensive loss | (9,955 | ) | (11,225 | ) | |||
Total shareholders’ equity | 157,234 | 129,436 | |||||
$ | 249,498 | $ | 213,068 |
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
Year Ended December 31, | 2020 | 2019 | |||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
Net income | $ | 22,958 | $ | 6,929 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for doubtful accounts | 77 | 10 | |||||
Depreciation and amortization | 10,743 | 10,599 | |||||
Noncash lease expense | 4,735 | 5,394 | |||||
Share-based compensation expense | 3,787 | 2,120 | |||||
Loss on sale of property and equipment | 29 | 43 | |||||
Deferred income taxes | (4,357 | ) | 4,279 | ||||
Purchase of trading investment securities | (60 | ) | (83 | ) | |||
Proceeds from sale of trading investment securities | 339 | 464 | |||||
Realized and unrealized gains on investments | (115 | ) | (224 | ) | |||
Foreign exchange (gains) losses | (1,270 | ) | 107 | ||||
Loss on write-off of cumulative translation adjustment | — | 595 | |||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable | 106 | 375 | |||||
Inventories | (154 | ) | (4,870 | ) | |||
Prepaid expenses and other | (1,762 | ) | 1,229 | ||||
Other assets | (55 | ) | 475 | ||||
Accounts payable | 2,090 | (960 | ) | ||||
Accrued volume incentives and service fees | 77 | (1,564 | ) | ||||
Accrued liabilities | 5,341 | (8,593 | ) | ||||
Deferred revenue | 766 | 69 | |||||
Lease liabilities | (4,716 | ) | (5,039 | ) | |||
Income taxes payable | 671 | (1,960 | ) | ||||
Liability related to unrecognized tax positions | (1,407 | ) | (693 | ) | |||
Deferred compensation payable | (164 | ) | (157 | ) | |||
Net cash provided by operating activities | 37,659 | 8,545 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
Purchases of property, plant and equipment | (4,905 | ) | (5,104 | ) | |||
Proceeds from sale of property, plant and equipment | — | 2 | |||||
Net cash used in investing activities | (4,905 | ) | (5,102 | ) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
Proceeds from revolving credit facility | — | 2,064 | |||||
Principal payments of revolving credit facility | — | (2,064 | ) | ||||
Proceeds from notes payable | 9,098 | — | |||||
Principal payments of long-term debt | (5,374 | ) | — | ||||
Principal payments of borrowings from related party | (318 | ) | — | ||||
Proceeds from exercise of stock options | 472 | 257 | |||||
Tax benefit from exercise of stock options | — | (320 | ) | ||||
Net cash provided by (used in) financing activities | 3,878 | (63 | ) | ||||
Effect of exchange rates on cash and cash equivalents | 1,808 | (389 | ) | ||||
Net increase in cash and cash equivalents | 38,440 | 2,991 | |||||
Cash and cash equivalents at beginning of the year | 53,629 | 50,638 | |||||
Cash and cash equivalents at end of the year | $ | 92,069 | $ | 53,629 | |||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||||||
Cash paid for income taxes, net of refunds | $ | 4,832 | $ | 6,861 | |||
Cash paid for interest | 86 | 64 |
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
(Amounts in thousands)
(Unaudited)
Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
Net income | $ | 6,650 | $ | 1,220 | $ | 22,958 | $ | 6,929 | |||||||
Adjustments: | |||||||||||||||
Depreciation and amortization | 2,909 | 3,066 | 10,743 | 10,599 | |||||||||||
Share-based compensation expense | 1,646 | 591 | 3,787 | 2,120 | |||||||||||
Other (income) loss, net* | (1,569 | ) | (502 | ) | (1,339 | ) | 483 | ||||||||
Provision (benefit) for income taxes | (2,832 | ) | 3,190 | (137 | ) | 8,713 | |||||||||
Other adjustments (1) | 676 | 11 | 173 | 2,375 | |||||||||||
Adjusted EBITDA | $ | 7,480 | $ | 7,576 | $ | 36,185 | $ | 31,219 | |||||||
(1) Other adjustments | |||||||||||||||
Restructuring and other unusual expenses | $ | 676 | $ | 11 | $ | 808 | $ | 2,375 | |||||||
VAT refund | — | — | (635 | ) | — | ||||||||||
Total adjustments | $ | 676 | $ | 11 | $ | 173 | $ | 2,375 |
* Other (income) loss, net is primarily comprised of foreign exchange (gains) losses, interest income, and interest expense.
NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO
NON-GAAP NET INCOME and NON-GAAP ADJUSTED EPS
(Amounts in thousands)
(Unaudited)
Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
Net income | $ | 6,650 | $ | 1,220 | $ | 22,958 | $ | 6,929 | |||||||
Adjustments: | |||||||||||||||
Restructuring and other unusual expenses | 676 | 11 | 808 | 2,375 | |||||||||||
VAT refund | — | — | (635 | ) | — | ||||||||||
Tax impact of adjustments | (169 | ) | (4 | ) | (202 | ) | (871 | ) | |||||||
Total adjustments | 507 | 7 | (29 | ) | 1,504 | ||||||||||
Non-GAAP net income | $ | 7,157 | $ | 1,227 | $ | 22,929 | $ | 8,433 | |||||||
Reported income attributable to common shareholders | $ | 5,866 | $ | 1,002 | $ | 21,337 | $ | 6,765 | |||||||
Total adjustments | 507 | 7 | (29 | ) | 1,504 | ||||||||||
Non-GAAP net income attributable to common shareholders | $ | 6,373 | $ | 1,009 | $ | 21,308 | $ | 8,269 | |||||||
Basic income per share, as reported | $ | 0.30 | $ | 0.05 | $ | 1.09 | $ | 0.35 | |||||||
Total adjustments, net of tax | 0.03 | — | — | 0.08 | |||||||||||
Basic income per share, as adjusted | $ | 0.33 | $ | 0.05 | $ | 1.09 | $ | 0.43 | |||||||
Diluted income per share, as reported | $ | 0.29 | $ | 0.05 | $ | 1.07 | $ | 0.34 | |||||||
Total adjustments, net of tax | 0.03 | — | — | 0.08 | |||||||||||
Diluted income per share, as adjusted | $ | 0.32 | $ | 0.05 | $ | 1.07 | $ | 0.42 |
FAQ
What are the fourth quarter 2020 financial highlights for NATR?
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