Natural Health Trends sees Q3 revenue $70.7M vs. $80.8M in last years Q3
Natural Health Trend announced the Company will report its financial results for the third quarter ended September 30, 2016 on Tuesday, October 25, 2016 at 9:00 a.m. Eastern Time. Chris Sharng, Natural Health Trends' President, and Scott Davidson, Senior Vice President and Chief Financial Officer, will host a conference call to discuss the third quarter 2016 financial results on the same day at 11:30 a.m. Eastern Time. The details for the conference call can be found below. The Company estimates total revenue for the quarter ended September 30, 2016 to be $70.7 million, which represents a decrease of 12% compared to $80.8 million in the third quarter of 2015. For the nine months ended September 30, 2016, the Company estimates total revenue to be $225.4 million, which represents an increase of 18% compared to $191.2 million in the first nine months of 2015. The Company further estimates that its deferred revenue at September 30, 2016 was $4.2 million, compared to $8.8 million at June 30, 2016. At September 30, 2015, deferred revenue was $4.5 million, compared to $8.2 million at June 30, 2015. "The special measures the Chinese government implemented to prepare for the G20 Summit in Hangzhou, one of our top markets, such as temporarily relocating city residents, emptying entire districts, blocking urban traffic and shutting down businesses in July, August and early September adversely impacted our local members' abilities to organize any activity in that metropolitan area," commented Chris Sharng, President of Natural Health Trends Corp. "Another negative effect on our revenue came from the Yuan's 6% depreciation against the Hong Kong dollar, effectively increasing the product pricing in the currency of our Chinese members." The revenue estimate is preliminary and has not yet been reviewed by the Company's independent accountants. Significant updates and revisions may be required before the release of the Company's third quarter 2016 financial results. In addition, the Company's quarterly financial results will include other factors necessary to calculate additional financial metrics, including gross profit and net income.