thanks joining Thank Senior Chief Officer. Kim, Scott us. Financial Vice President everyone our is today and Davidson, you, me and With to for
first for a period. challenging the year revenue XX% compared quarter million, was our to prior total business of It $XX.X with declining
you to our COVID-XX through this situation. in Before Scott been to as have discussing taking as I'd pandemic like address the unprecedented financials walks well detail, begin and greater business its the to the by impact actions we
who the and been with First around of by world have are the foremost, our thoughts impacted those coronavirus. all
in Kong. related XXX-day ongoing Hong operating global followed tensions The guiding employees, of our the media throughout customers our and to our experienced civil negative with run associated While products and control, health top as am and trade our continued have our social of companies operations to these the I priority. already decisions sentiment circumstances are pleased conditions impact beyond we in we the health with unrest safety pandemic efficiently members China, China's on campaign: difficult XXXX
prior to of conference impact on member well has decision current early the factors. XXXX a discussed result performance, our of on calls, decision Despite negative all that in aforementioned our environment. the suspend as in As served us voluntarily the made financial we activities the
never global we would affected impact could focused key XXXX COVID-XX and our in foreseen economy, adapt realities XXX-day the our our on support business on have our the following applying have campaign efforts have to experience we been While to new learnings from China's to market. preparing
and narrow directly that second in spread measures Hubei is lockdown reduction fact for which largest from most corresponding our January, market to XXXX, throughout effectively a implementing started government-mandated of parcel flow half the scope capital quarantine loss of we extensive and impacting the in markets to province under resulting Wuhan cash of Greater into the operating decline the cost quarter quarter the main Since our and were In of aggressive in China, COVID-XX first and XXXX. in the we despite operations deliveries. were our beginning able first delays severe
to marketing the as Even in into we a government event to though model, of financial high-quality level our plan, stable leadership. flexibility resilient measures mitigate together nature our lineup, to with support decision did originally of not this sheet and product chain of the major those ample were the balance and unprecedented we availability fulfill our even continued ahead related health we and ensure product through supply that downturn place. to to will from restrictions this orders we positively feel put our times prudent We members reacted and to these took we pleased I work hold of generate members safety and March stronger disruptions that members and customers. Further, and and field than came before strong COVID-XX incentives the ensure business robust given planned, orders. to superior high will our employees, confident emerge
these will walk I detail. each now through of in
business does A We wide have their not our sharing anyone operate e-commerce model. physical a Many technology to platform world. contact. information our much which high-quality an require First, array us the enables superior in products about with we keep members of and mobility. of the markets various COVID-XX not on moved media pandemic. We to more if connected and than to member want platforms our events webinars training to overcome personal as their to intensely social restrictions adapted be before services to
in efficacy Enhanced lineup Essential products. sales our our firmly of of Noni several particular, Probiotics products. quality the of crisis Second, We This in our health the Premium of and the immune-boosting we great Juice. and including a products, believe have facilitated
have addition, markets to products year. new In we of in several second plans in launch the various beginning this quarter
in Third, a place. we have marketing robust plan
new programs as and deploying are inventory rewarding promotional by our adapting marketing are We needed. possible our and management programs made effective
conservative strong a allocation our Fourth, members and business. capital support a have to sheet we and balance philosophy
We have in no flexibility $XX and Further, the to in line adapt loans any debt variable equivalents, order zero of allows bank with our and volume. cash with us ample kind. highly liquidity million cash cost structure
to promotional program position announced, increased reducing for including spending. efficiencies areas, place in and of headcount previously As put in we the us second several a in half operating XXXX
cost to a now million savings As realize annualized XXXX. result, $X approximately in of expect we
important not leadership. but have stability can't resilience how enough and I field our we least, this Last emphasize is. the of
the leaders throughout years. over of downturn retained the of persisted all have We that has past couple our
on confidence Our themselves by in their and navigating I example. ability help proven environments to our operating leaders have and highly members by complex lead many support rely situations. have
happy Taiwan priorities, the our new during I'm number including emerging our performed markets terms South well In report of and geographical quarter XXXX, to and that expansion of of first Japan. a Korea,
which been by our and us, events been for lockdown A impacted hold a parts shipping significantly resume had largest the to meetings On the into certain of we the members' hand, to country. products nationwide strong able has very Since have to other of of the Peru. and onset Peru, was delivery COVID-XX. cities market disrupted the affected abilities the also fortunately in crisis,
online in as the leadership region our training support through capabilities additional to diligently the technological working are situation stabilizes. and We
summary, the our the the global of will adverse economy. to operations in the key light pleased of for given leaders our have on level we year retention ensure exists still our in top the high of our that business continued execute another That XXXX COVID-XX has be marketplace, said, uncertainty impact In strategy significant that are challenging I'm run to success. who and efficiently our to had
efforts. job complex Our fluid, this leaders navigating them I and highly situation, an applaud excellent for did their
factors than ongoing the spread both health. coronavirus wish the macroeconomic emerge of side we we of a Global from and NHT you good will thank pandemic like of their investors I other have in this XXXX, I'd much to support on While and before. company all of our remain stronger for members, as confidence all leaders, employees cautious the and
With turn CFO, that, the first our to detail. Scott our XXXX I'd like in to financials Scott? to discuss call quarter over Davidson,
