Natural Health Trends Corp. (NASDAQ NMS: BHIP - News), an international direct-selling company, today announced its financial results for the first quarter ended March 31, 2006.
Net sales in the first quarter of 2006 were $39.5 million, compared to $42.8 million for the first quarter a year ago. This net decrease of $3.3 million, or 8%, was due to sale of the Company’s 51% equity interest in KGC Networks (”KGC”), effective December 31, 2005. Excluding KGC, the Company’s net sales increased $5.1 million, or 15%, over the comparable period in the prior year. This increase was primarily due to growth in the Hong Kong-based business (contributing $3.9 million of the total increase), South Korea ($1.2 million), and the opening of the Japan and Mexico offices (contributing $1.8 million and $1.1 million, respectively), offset by reductions in net sales in North America ($1.8 million) and Southeast Asia ($1.0 million).
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