Reliv International, the international manufacturer and network marketer of nutritional supplements, has confirmed that its first quarter sales reached $14.5 million (€15.8m) cent, a 3 per cent increase, helped by strong network marketing sales.
The company predicted the increase last month, saying that a good performance from the US, the Philippines and a number of other core markets would help drive the sales rise. Reliv's network marketing sales grew 18.6 per cent in the first quarter compared to the same period a year ago, when they totaled $12.2 million.
Net profits of $459,000 for the quarter were higher than profits for the whole of 2001 which reached just $308,000. In the first quarter of 2001, the company posted losses of $146,000.
"These solid results provide more proof that our strategy is on target, and that we are continuing to build on the momentum we established last year," said Robert L. Montgomery, president and chief executive officer of Reliv. "By focusing on what we know best - network marketing and nutrition science - we have been able to achieve outstanding sales growth both in the United States, and in several key international markets."
Montgomery said that sales in the United States - the company's largest geographic market - grew more than 18 per cent compared to the first quarter a year earlier. Reliv also generated strong revenue growth in international markets, where sales climbed 19 per cent compared to the year-ago quarter.
"Our operations in Mexico and the Philippines both turned in outstanding performances, achieving sales growth of 50 per cent and 30 per cent respectively over their first quarter totals in 2001,"he said. "With such strong results from all three of our largest geographic markets, it's not surprising that we were able to set a record in the first quarter. In terms of network marketing sales, this was our best quarter ever."