CHESTERFIELD, Mo., Feb. 29, 2012 /PRNewswire via COMTEX/ –
Reliv International, Inc.
/quotes/zigman/53219/quotes/nls/relv RELV
+0.90%
, a maker of nutritional supplements that promote optimal health, today reported its financial results for the fourth quarter and full year of 2011.
Fourth-Quarter Results
Reliv reported net sales of $16.9 million for the fourth quarter of 2011, compared with sales of $18.5 million for the fourth quarter of 2010. U.S. sales declined by 13.4 percent for the quarter compared with the same quarter in 2010. International sales for the quarter increased 14.4 percent, led by significant growth in Europe, which reported an increase of 83.9 percent.
Reliv reported net income of $320,000, or $0.03 per diluted share, for the fourth quarter of 2011 compared with net income of $559,000, or $0.05 per diluted share, for the fourth quarter of 2010. Income from operations for the fourth quarter of 2011 was $471,000 compared with $827,000 in the same quarter of 2010.
Full-Year Results
Reliv reported net sales of $73.9 million for 2011 compared with net sales of $78.7 million in 2010. U.S. net sales decreased from $66.9 million to $60.9 million. Net sales in Reliv’s foreign markets for 2011 increased 9.7 percent compared with net sales for 2010. Net sales were particularly strong in Europe, where net sales increased 80.4 percent. Growth in the European market in 2011 was driven by strong increases in new distributor enrollments.
Net income for 2011 was $1.0 million compared with $1.7 million in 2010. Diluted earnings per share were $0.08 in 2011 compared with $0.14 in 2010.
“The financial highlight of 2011 was the increase in sales in Europe,” said Robert L. Montgomery, chairman, president and chief executive officer of Reliv. “Our European market set numerous monthly sales records in 2011 after posting double digit growth in 2010. This sustained growth is something we plan to build on in 2012.”
“In the United States, we have turned to innovation to jump start sales. The introduction of healthy energy shot 24K(TM) followed with the innovative 24K VIP program, a customer referral and lead generation initiative, I believe positions us to expand our footprint in the lucrative energy drink market,” he said.