0001437749-12-004827.txt : 20120510 0001437749-12-004827.hdr.sgml : 20120510 20120510161531 ACCESSION NUMBER: 0001437749-12-004827 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120510 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120510 DATE AS OF CHANGE: 20120510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATURAL HEALTH TRENDS CORP CENTRAL INDEX KEY: 0000912061 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190] IRS NUMBER: 592705336 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26272 FILM NUMBER: 12830492 BUSINESS ADDRESS: STREET 1: 2603 OAK LAWN AVE. STREET 2: FIFTH FLOOR CITY: DALLAS STATE: TX ZIP: 75219 BUSINESS PHONE: 972-241-4080 MAIL ADDRESS: STREET 1: 2603 OAK LAWN AVE. STREET 2: FIFTH FLOOR CITY: DALLAS STATE: TX ZIP: 75219 8-K 1 nhtc_8k-051012.htm FORM 8-K nhtc_8k-051012.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K
 
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):  May 10, 2012
 
Natural Health Trends Corp.
(Exact Name of Registrant as Specified in Its Charter)
         
 Delaware
(State or Other Jurisdiction of Incorporation)
         
 0-26272        59-2705336
 (Commission File Number)         (IRS Employer Identification No.)
         
4514 Cole Avenue, Suite 1400, Dallas, Texas
      
75205
(Address of Principal Executive Offices)       (Zip Code)
         
(972) 241-4080
(Registrant’s Telephone Number, Including Area Code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
Item 2.02. Results of Operations and Financial Condition
 
On May 10, 2012, Natural Health Trends Corp. issued an earnings release announcing its results for the quarter ended March 31, 2012.  The press release is attached hereto as exhibit 99.1.
 
Item 9.01. Financial Statements and Exhibits
 
Press Release of Natural Health Trends Corp. dated May 10, 2012.
 
(a) Financial statements:
            None
(b) Pro forma financial information:
            None
(c) Shell company transactions:
            None
(d) Exhibits
            99.1       Press Release of Natural Health Trends Corp. dated May 10, 2012

 
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  May 10, 2012
 
  NATURAL HEALTH TRENDS CORP.  
     
       
 
By:
/s/ Gary C. Wallace   
    Gary C. Wallace  
    General Counsel  
       
                       
 
 

 
 EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm
Exhibit 99.1
 
NATURAL HEALTH TRENDS ANNOUNCES FINANCIAL RESULTS
 
DALLAS, TX, May 10, 2012 -- Natural Health Trends Corp. (OTCQB: NHTC) today announced its financial results for the quarter ended March 31, 2012.  The Company reported sales of $9.1 million, up 75% over a year ago, and earnings per share of $0.04 for the quarter, compared to losses per share of $0.04 during the comparable period in 2011.
 
 “We are pleased with the quarterly results and the growth that our business is experiencing,” said Chris Sharng, President of Natural Health Trends. “This success can be attributed to the hard work and dedication of our field leaders and the fact that they are embracing the promotions, incentives and programs that we’ve put in place. We will build on our momentum with a robust calendar of exciting promotions and incentives geared toward attracting new members and rewarding those existing members for their hard work.”
 
About Natural Health Trends Corp.
 
Natural Health Trends Corp. is an international direct-selling and e-commerce company operating through its subsidiaries throughout Asia, North America, and Europe.  The company markets premium quality personal care products under the NHT Global brand.  Additional information can be found on the company’s website, www.naturalhealthtrendscorp.com.
 
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Forward-looking statements in this release do not constitute guarantees of future performance.  Such forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated.  Such risks and uncertainties include the risks and uncertainties detailed under the caption “Risk Factors” in our Annual Report on Form 10-K filed on March 27, 2012, with the Securities and Exchange Commission.  We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
 
 
 
 
 
NATURAL HEALTH TRENDS CORP.

CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Share Data)

   
December 31,
2011
    
March 31,
2012
  
         
(Unaudited)
  
ASSETS
            
Current assets:
            
Cash and cash equivalents
   $ 1,617     $ 2,758  
Restricted cash
     494       248  
Accounts receivable
     93       338  
Inventories, net
     1,089       1,008  
Other current assets
     537       646  
Total current assets
     3,830       4,998  
Property and equipment, net
     68       76  
Goodwill
     1,764       1,764  
Restricted cash
     220       225  
Other assets
     241       241  
Total assets
   $ 6,123     $ 7,304  
                 
LIABILITIES AND STOCKHOLDERS’ DEFICIT
                
                 
Current liabilities:
                
Accounts payable
   $ 2,208     $ 1,997  
Income taxes payable
     11       22  
Accrued distributor commissions
     1,177       1,271  
Other accrued expenses
     1,471       1,788  
Deferred revenue
     967       1,335  
Deferred tax liability
     148       148  
Other current liabilities
     950       974  
Total liabilities
     6,932       7,535  
Commitments and contingencies
                
Stockholders’ deficit:
                
Preferred stock
     124       124  
Common stock
     11       11  
Additional paid-in capital
     80,493       80,513  
Accumulated deficit
     (81,338 )     (80,831 )
Accumulated other comprehensive loss:
                
Foreign currency translation adjustments
     (99 )     (48 )
Total stockholders’ deficit
     (809 )     (231 )
Total liabilities and stockholders’ deficit
   $ 6,123     $ 7,304  
 
 
 
 
 
NATURAL HEALTH TRENDS CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In Thousands, Except Per Share Data)

   
Three Months Ended March 31,
  
   
2011
    
2012
  
             
Net sales
   $ 5,175     $ 9,090  
Cost of sales
     1,529       2,399  
Gross profit
     3,646       6,691  
Operating expenses:
                
Distributor commissions
     1,762       3,691  
Selling, general and administrative expenses
     2,030       2,437  
Depreciation and amortization
     232       12  
Total operating expenses
     4,024       6,140  
Income (loss) from operations
     (378 )     551  
Other expense, net
     (95 )     (63 )
Income (loss) before income taxes
     (473 )     488  
Income tax provision (benefit)
     7       (19 )
Net income (loss)
     (480 )     507  
Less:  Net income attributable to the noncontrolling interest
     8       –  
Net income (loss) attributable to Natural Health Trends
     (472 )     507  
                 
Preferred stock dividends
     (4 )     (4 )
Net income (loss) attributable to common stockholders of Natural Health Trends
   $ (476 )   $ 503  
                 
Income (loss) per share of Natural Health Trends:
                
Basic
   $ (0.04 )   $ 0.05  
Diluted
   $ (0.04 )   $ 0.04  
                 
Weighted-average number of shares outstanding:
                
Basic
     10,635       10,863  
Diluted
     10,635       11,181  

 
 
Contact:

Natural Health Trends Corp.
investor.relations@nhtglobal.com

SOURCE:  Natural Health Trends Corp.