Reliv International Inc. swung to losses for both the fourth quarter and full year of 2015 due to a slump in sales.
For the fourth quarter, the Chesterfield-based nutrition supplement company posted a net loss of $206,100, or 2 cents per share, compared with a net income of $998,300, or 8 cents per share, a year ago.
Quarterly net sales dropped 13 percent to $12.3 million.
For the full year, Reliv reported a loss of $1.2 million, or 10 cents a share, compared with a profit of $12.7 million, or 6 cents a share, a year earlier. Annual sales dipped 10 percent to $51.8 million.
“The results of the fourth quarter and all of 2015 are not acceptable,” Robert Montgomery, chairman and CEO, said in a statement. “In order to put us back on an upward trajectory we have restructured our distributor compensation to make the home-based business opportunity more attractive.”
Article Source: http://www.stltoday.com/business/local/reliv-international-posts-losses-for-q/article_cab43c6e-f2ab-5b52-b838-178c0c0d1da3.html