Natural Health Trends Corp. (NASDAQ:NHTC) Q1 2024 Earnings Call Transcript May 1, 2024
Natural Health Trends Corp. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Ladies and gentlemen, good morning, and welcome to the Natural Health Trends Corp First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Michelle Glidewell. Please go ahead.
Michelle Glidewell: Thank you, and welcome to Natural Health Trends’ first quarter 2024 earnings conference call. During today’s call, there may be statements made relating to the future results of the company that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements through the result of certain factors, including those set forth in the company’s filings with the Securities and Exchange Commission. It should also be noted that today’s call will be webcast live and can be found on the Investors section of the company’s corporate website at naturalhealthtrendscorp.com.
Instructions for accessing the archived version of the conference call can be found in today’s financial results press release, which was issued at approximately 09:00 a.m. Eastern Time. At this time, I’d like to turn the call over to Chris Sharng, President of Natural Health Trends.
Chris Sharng: Thank you, Michelle, and thanks to everyone for joining us this morning to discuss our first quarter 2024 financial results. With me today is Scott Davidson, our Senior Vice President and Chief Financial Officer. Our financial performance for the quarter reflects a $1 million rise in deferred revenue, resulting in a decrease in recognized revenue compared to the same period last year. We expect gradual recognition of this deferred revenue in the coming months as we fulfill orders to our valued customers. It’s noteworthy that this quarter, we achieved sequential increase in orders taken during the first quarter over the preceding fourth quarter for the first time in 6 years. Additionally, we achieved positive cash flow from operations that highlight the robustness of our business model and the resilience of our balance sheet.
While we approached the Year of the Dragon with guarded optimism, these results underscore the effectiveness of our current strategies. We continue to emphasize innovation, customer satisfaction, leadership development and operational efficiency as we navigate our forward progress. We believe that our core programs and initiatives started to show some positive effect in the first quarter. Members have thus far responded favorably to our year-long achiever bonus program, which provides them additional opportunities for cash rewards and qualification to attend future travel incentives. In addition, the effectiveness of our corporate driven, train the trainer program focused on building loyal product consumers and leaders of the future has been well received and attended.
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