Published:
Mannatech Holds 7th-Annual National Convention in Australia
(NASDAQ: MTEX) Mannatech, Incorporated
announced today that a sold-out crowd consisting of its independent
Associates and their guests from throughout Australia and New Zealand
attended the Company's National Convention in Australia last month.
Australia and New Zealand represent Mannatech's largest international
market based on net sales, which have increased considerably from $9
million for the year ended December 31, 2002, to $23 million and $44
million for the same periods in 2003 and 2004, respectively. Independent
Associates in the Australia and New Zealand market generated $25 million in
net sales during the first six months of 2005 compared to $20 million in
net sales during the same period in the previous year.
As a percentage of consolidated net sales, Australia and New Zealand
represented 13.2 percent of Mannatech's net sales for the first six months
of 2005, second only to the United States, which represented 66.9 percent
for the same period.
The Pacific Rim is one of the newest frontiers in Mannatech's international
expansion. The Company opened operations in Australia in 1998, Japan in
June 2000, New Zealand in September 2002, the Republic of Korea in
September 2004 and Taiwan in June 2005.
"The progress of the Australia and New Zealand market has been exciting to
follow over the years," said John W. Price, president of Mannatech's
international operations. "We believe the level of enthusiasm among the
market's Associates is robust and the market's sales growth shows the value
residents of those nations place on glyconutritional supplements."
About Mannatech, Incorporated
Mannatech, based in Coppell, Texas, is a wellness solutions provider that
sells its products through a global network-marketing system throughout the
United States and the international markets of Canada, Australia, the
United Kingdom, Japan, New Zealand, Republic of Korea, Taiwan and Denmark.
For additional information about Mannatech, please visit its corporate Web
site: www.mannatech.com. Media may contact Alan A. Van Zelfden, media
relations specialist, at 972-471-7334 or by e-mail at pr@mannatech.com.
Please Note: This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, Section
21E of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
may be identified generally by the use of phrases or terminology such as
"may," "believes," and "plans" or other similar words or the negative of
such terminology. Similarly, descriptions of Mannatech's objectives,
strategies, plans, goals or targets contained herein are also considered
forward-looking statements. Mannatech believes this release should be read
in conjunction with all of its filings with the Securities and Exchange
Commission and cautions its readers that these forward-looking statements
are subject to certain events, risks, uncertainties, and other factors.
Some of these factors include, among others, Mannatech's inability to
attract and retain Associates and Members, increases in competition,
litigation, regulatory changes and its planned growth into new
international markets. Although Mannatech believes that its expectations,
statements, and assumptions reflected in these forward-looking statements
are reasonable, it cautions its readers to always consider all of the risk
factors and any other cautionary statements carefully in evaluating each
forward-looking statement in this release, as well as those set forth in
its latest Annual Report on Form 10-K, and other filings filed with the
Securities and Exchange Commission, including its current reports on Form
8-K. All of the forward-looking statements contained herein speak only as
of the date of this release.
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