Natural Health Trends Corp. (NASDAQ:NHTC) 2024 Q1 Earnings Report Call Transcript May 1, 2024
Natural Health Trends Corporation wasn’t among the 30 most popular stocks among hedge funds at the end of the third quarter (see the details).
operator: Good morning everyone. Welcome to the Natural Health Trends Corp. Q1 2024 Earnings Conference. [Operator Instructions] Please note that this meeting is being recorded. It’s my honor to introduce your host, Michelle Glidewell. Please move on.
Michelle Glidewell: thank you. Welcome to Natural Health Trends’ 2024 Q1 Earnings Conference Call. Today’s conference call may include statements relating to the Company’s future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results, performance or achievements may differ materially from those anticipated in such future terms. A description of appearance as a result of certain factors, including those described in a company’s filings with the Securities and Exchange Commission. Additionally, today’s conference call will be webcast live and available on the Investor section of the company’s corporate website at naturalhealthtrendscorp.com.
Instructions for accessing an archived version of the conference call are included in today’s earnings press release issued at approximately 9:00 a.m. ET. I would now like to turn the call over to Chris Sharng, President of Natural Health Trends.
Chris Shahn: Michelle, and thank you all for joining us this morning to discuss our first quarter 2024 financial results. Joining me today is Scott Davidson, our senior vice president and chief financial officer. Our financial results for the quarter reflected a $1 million increase in deferred revenue, resulting in a decrease in recognized revenue compared to the prior year period. This deferred revenue will be recognized gradually over the next several months as we fulfill orders for our valued customers. It is noteworthy that this quarter, the first quarter orders compared with the previous fourth quarter achieved a continuous increase for the first time in six years. Additionally, we achieved positive cash flow from operations, highlighting the robustness of our business model and the resilience of our balance sheet.
We entered the Year of the Dragon with cautious optimism, and these results highlight the effectiveness of our current strategy. We continue to move forward with a focus on innovation, customer satisfaction, leadership development and operational efficiency. We believe our core programs and initiatives began to show some positive impact in the first quarter. So far, members have responded positively to the year-long Achiever Bonus program, which provides cash rewards and an additional opportunity to qualify for future travel incentives. Additionally, our company-led trainer programs, which focus on developing loyal product consumers and future leaders, are gaining popularity and enrollment.
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