Chief morning, fourth is Today quarter both President hear Good Bala. welcome you Johnson, to from and Mannatech’s and Mannatech’s XXXX me Officer, everyone. you. Al David This and will Executive Thank earnings call.
I the harbor first read Before statement. call, the we will begin safe
During statements, can we involve performance. future forward-looking call, this financial make events conference may which or future
intends, could, terminologies be believes, plans, Forward-looking the or may, by predicts, can approximates, hopes, anticipates, phrases identified and such statements would, will, projects, should, generally of use as continues expects, estimates, potential other terminology. speak statements and or that uncertainties and are words caution forward-looking factors the other only negative as risks, such such events, and We of of subject today. certain to listeners
review to submissions. We our our also listeners SEC refer
the $XX.X million $X.X quarter dollar by compared prior the million exclude for XXXX trends. this GAAP to operations. sales changes on XXXX changes constant fourth constant in impact few principles fourth to to comments measures were including As quarter I results gross and million, profit disclose At basis, our with presentation, to supplement been of XXXX. sales, in as use concerning use X.X% dollars, or perspectives or translation for a from additional results net these will accounting $XX.X that with increase compared generally our year. investors million income due of accepted we quarter Fourth States, sales reporting as and in results. fourth currencies to will financial non-GAAP of of net United time, dollar U.S. net presented accordance this make $X.X of adjusted operating quarter have the We foreign a the part On into in of increased XXXX an provide operating to
decreased $XXX.X net to for XXXX. by the $X.X compared to $XXX.X for million XXXX for sales as year, million overall As million
Tax from $X.X on loss fourth X.X% of for XXXX loss declined for the Act. for operations million The The net fourth period income of $X.X the XXXX. was operations for the by the million, quarter and fourth foreign compared in our loss a was $X.XX During $X.X Cuts or quarter by diluted fourth per the Income million XXXX, Favorable XXXX impacted per to XXXX. to provision exchange $X.XX share during significantly sales Jobs net quarter share the diluted tax constant million XXXX fourth $X.X in $X.X from our million. of benefited was basis. or million sales compared a as dollar as same quarter was quarter $X.X
share million diluted XXXX. was per during diluted For share income per $X.X The $X.X income $X.X million to as million $X.X was XXXX. or net a for for or compared from XXXX, loss of $X.XX from XXXX compared to operations loss net million operations XXXX $X.XX
for Our XX.X% XXXX. operations for Americas sales our net consolidated of the outside of accounted approximately
million the for For period XX, million XXXX. sales $X.X the $XX.X compared X to Americas or $XX.X for decreased as the net ended months XXXX, December X.X% to million by same in
by for during million During decreased to compared the sales the $X as $XX.X X.X% year, million or $XX.X XXXX. Americas to million
Net Japanese for or due depreciation impact was of constant impact $XX by December $X.X primarily ended quarter the million. exchange of to In $XX.X would’ve sales the won fluctuations by fourth XX, million the quarter of were by rates. comparisons in fourth the to sales Korean yen. Asia offset appreciation XX.X% the dollar, the Pacific Currency net compared increased the XXXX, partially and foreign $XX been Australian period dollars, sales months as affected same X the net million million XXXX. for For to in
to compared million $X.X Asia million as XXXX, XXXX. sales increased by for During Pacific X.X% $XX.X or million $XX.X to
XXXX. $X.X the December compared $X.X million and Africa, X.X% XXXX, For for EMEA, the to to fourth East primarily was due sales been net $X.X Middle rand. South currency $X.X of would’ve the or sales increased quarter by period appreciation months the in million. as the The X for constant for XXXX net African same million the ended to In of and dollars, XX, impact the Europe, million euro
or EMEA by sales XXXX, million XXXX. million decreased as compared $XX.X During million for $X.X X.X% $XX.X to to
revised by $XX.X designed and July of titles for to the product volume for associates was which company Associate leadership Compensation higher to for $XX.X XX, income mix the our of customers. the of our period to we utilize sales, XXXX, million same Plan and business our In experience maximize the Compensation as gross provides and months commission $X.X active buying a compared levels, favorable the increased to X stimulate ending new in result and XXXX growth. to so, rates, and exchange profit XX, associates. development gross hopes As million same revised company for Associate Plan, XXXX, better profit – dollars modified On streams, million growth requirements December of preferred XXXX. business-building various to stimulate doing our
same of addition, sales modified for the the to as ending In months prior as period December compensation this and preferred a XXXX, plan in year. members their were pricing Commissions redesignated percentage X structure. net the for as XX.X% customers XX, XX.X%
due ‘XX, and plan the from launch commission and on costs, as as XX.X% respectively. transitioned legacy our a were increases XXXX we of XX.X%, percentage XX. of new plan net to our commissions to were These transition commission During July sales
offset administrative a China. in expenses in $X.X selling as increase $X.X in for the a $X and and as The to million our payroll cost decrease million ending months and December compared $X.X expanded million same XXXX. million non-direct selling in $X.X decreased in business warehouse partially costs million a $X.X decrease expenses in increase period by million costs by decrease stock-based marketing selling $X.X compensation, in and For we to million the XXXX, primarily of administrative general X consisted XX,
at X Legal in lower XXXX, XX, months operating the spite lower $X.X and were $X.X of by other the a million were and held ending to Plan, associated decreased due costs were costs network associates expect December number the million in XXXX. associate positions network were office to Mannatech to XXXX And lower and individuals our settlement, with The same $X.X XXX,XXX headquarters, the of legal, approximately new consulting For the the With networks. XXX,XXX, continuing expenses. second the approximately expenses their in will the during fourth of time we would XXXX. associate for corporate Associate consolidate which first Compensation and quarter as costs office quarters of occur of our million positions compared distribution purchase company new XX,XXX and member number revision within related our in and moving respectively. of the member independent by approximate XX,XXX to spite
remeasurement provision tax certain now future, during and at mentioned remeasured on effective which the legislation rate significant U.S. We quarter. based which impact a tax to our January which X, million. legislation fourth $X.X changed tax was I in the And U.S. tax to assets XX%. expected deferred the liabilities had is they this quarter increased reverse on generally As rates are Mannatech’s fourth provision, XX%, XXXX. statutory earlier, The tax the the
earnings cost, tax. legislation of equivalents as and December to total provisions. These $XX.X provision cash $XX.X expense U.S. profits, XXXX, December sheet million tax been million and balance Another increased fourth equivalents by to million. tax, hand million the to of $X tax compared XX, Without previously at quarter $X.X would transition our tax cash tax added the income our XX, a increasing have cash In million on cash not tax our the and one-time XX.X% based impacts or other the is reviewing subject at on to unrepatriated this $X.X our legislation, XXXX. balance
compared increased the ended million flow For to from $XX activities XXXX. operating in XXXX, the XX, period cash year by same as December
year XXXX. XX, equipment. million ended net and we office and summary, XXXX, the $X.X invested million million December $X.X $X.X computer software, the in for same for compared for as improvements furniture inflow hardware inflow XXXX In period cash million million $X was cash approximately in for and to leasehold $X.X our of During
increased working compared $XX.X XX, at to million current as Our less $XX.X defined assets liabilities, December XXXX. capital, XX, as total XXXX, total at million December current to
XXXX, to to finished increased compared X.XX inventory goods X.XX During turns during our XXXX.
XXXX, Our XX, at million $X.X net inventory compared to million XXXX. XXXX. XX, million balance XX, December compared $XX $XX.X by as December million Total at to decreased XX, December December million at to at XXXX, as increased $X.X liabilities to current $XX.X
turn the our For the Mr. shareholders capital to $X.X million lease over million included Mannatech’s Al XXXX, and this to ending dividends common payments million Bala. year our At repayment activities $X.X our of of of financing will for obligations, I $X.X time, stock. of repurchase December CEO, the call XX,
