Increased Distributorship Gives Reliv RecordbreakingQuarterIncreased Distributorship Gives Reliv RecordbreakingQuarter
June 23, 2003
Increased Distributorship Gives Reliv RecordbreakingQuarter
CHESTERFIELD, Mo.--Reliv International Inc. (NASDAQ:RELV)announced May 6 that for its first quarter (1Q03), ended March 31, it logged thebest quarter in a decade.
Net sales rose to $18.7 million from $14.5 million, and gross margin improvedto 82.3 percent of sales from 81 percent. Operating expenses rose to $13.6million from $10.8 million, which included distributor royalties and discounts.Net income doubled to $1 million, or $.08 per share earned, from $.5 million, or$.04 per share earned.
The company reported this was the highest quarterly net income in more than adecade. It may have helped that new distributor sponsorships grew significantlyin each of the company's largest markets--up 32 percent in the United States, 54percent in Mexico and 22 percent in the Philippines.
On May 28, Reliv announced that its shareholders approved a one-for-fourforward split of common stock and an increase in the number of authorizedcompany shares to 30 million shares. The stock split will give each shareholderone newly issued share of common stock for each four shares of common stockowned by the shareholder on the record date of the stock split.
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