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Mannatech, Inc. (MTEX) Reports Higher Fourth Quarter Net Income

Mannatech, Inc. reported net income of $2.2 million, or $0.08 per share, in the fourth quarter of 2009, compared to net income of $620,000, or $0.02 per share, in the same quarter of 2008.

Mannatech, Inc. said that fourth quarter of 2009 revenues fell by 8.4% to $70.1 million, from $76.5 million a year earlier. The company did see an increase in its international sales in the fourth quarter of 2009, which increased 8%, from $31.2 million to $36.3 million.

Stephen Fenstermacher, the Co-CEO of Mannatech, Inc. said, “Our focus since mid-year of 2009 was to return to traditional cost levels for cost of sales and commissions; we accomplished that goal in the fourth quarter. Equally important, fourth quarter 2009 EBITDA was $2.9 million, evidencing a return to positive operating cash flow.”

Mannatech, Inc. reported a strong increase in new associates and members for 2009. The company added 144,631 associates and members in 2009, up 9.2% from the 132,447 added during 2008. Mannatech, Inc. sells skin care, health, weight and fitness products through an independent sales force in the United States, Europe and Asia.

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