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Participants

Michelle Gladwell; Moderator; Natural Health Trends Corporation

Chris Sharng; President; Natural Health Trends Corporation

Scott Davidson; Chief Financial Officer; Natural Health Trends Corporation

Presentation

Operator

Greetings and welcome to the Natural Health Trends Corp Fourth quarter, 2024 earnings conference call (Operator Instructions). It is now my pleasure to introduce your host, Michelle Gladwell with Natural Health Trends Corp. Thank you. You may begin.

Michelle Gladwell

Thank you and Welcome to Natural Health Trends Fourth Quarter and Full Year 2024 earnings conference call. During today's call, there may be statements made relating to the future results of the company that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.
Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements through the result of certain factors including those set forth in the company's filings with the Securities And Exchange Commission.
It should also be noted that today's call will be webcast live and can be found on the investors section of the company's corporate website at naturalhealthtrendscorp.com instructions for accessing the archived version of the conference call can be found in today's financial results press release which was issued at approximately 9:00 AM Eastern Time. At this time, I'd like to turn the call over to Chris Sharng, President of Natural Health Trends.

Chris Sharng

Thank you Michelle and thanks to everyone for joining us this morning to discuss our fourth quarter and full year 2024 financial results. With me today is Scott Davidson, our Senior Vice President and Chief Financial Officer. During the fourth quarter our performance was steady with overall reported sales remaining essentially flat, in comparison to the fourth quarter a year, ago.
Our primary market greater China where sluggish consumer sentiment persists achieve a 7% increase in their sales compared to the fourth quarter of 2023 and a 9% increase compared to the preceding third quarter of 2024. A sign that our programs trainings, promotions and incentives are resonating with the consumers and few leaders.
Overall, our results for the fourth quarter and full year were adversely affected by decreases in Taiwan and North America where we implemented strategic price adjustments in 2023, and began offering fewer product promotions throughout 2024. We believe these efforts position us for longer term benefits of safeguarding margins and reinforcing market discipline.
In November, we introduced two new products in Hong Kong, a raspberry lemonade flavored version of our Collagen Supreme as well as a new topical hair serum called Root Revive designed to improve hair strength and density. We follow up the launch with a six city Roadshow in China where our members and consumers learn about these two products while gaining valuable training and business insights.
These two products were also rolled out in Taiwan and North America with other markets preparing for their introductions, later this year. In the first week of January, we held our annual Asia forum in Bangkok with more than 430 attendees. This gathering was a springboard for our 2025 programs and initiatives, and ensure that our leaders in the field have a clear road map for success and vision for the year ahead.
In 2024, we officially opened the Colombia market for in country order taking and we're finalizing arrangements for an official office opening later this month to celebrate, recognize and welcome this new community to the NHG Global family. We are excited. These new members are drawn to our opportunity and high quality products and that they share enthusiasm for our global mission of creating wellness traditions. In all of our markets we continue to regularly hold products and business training, personal development sessions and recognition events both in person and online.
These initiatives are designed to empower, engage and inform our members while also serving as excellent platforms to spark new recruitment and retail activities and support retention. In October leaders and qualifiers from Peru Mexico and Japan came together for an unforgettable incentive trip to Paris combining efforts across multiple markets to celebrate their achievements.
In December, we hosted our North American qualifiers for Cancun incentive trip where half of the qualifiers were first time attendees to one of our travel incentives. These recognition activities are designed to drive goal setting and business growth, motivate and help strengthen relationships among members, leaders and staff to support retention and collaboration.
I want to acknowledge the vital contributions of our leaders, members, preferred customers, employees and stockholders. Your dedication plays a key role in strengthening energy, global and advancing the reach of our outstanding products. Our business and product offerings provide an opportunity for individuals of all backgrounds, whether they're looking to supplement their income will take proactive steps to improving their health and wellness.
With our exceptional products, we're well positioned to support these aspirations and help individuals achieve their goals in an ever changing world. As we welcome the year the snake, we extend our heartfelt wishes for health, prosperity and success throughout 2025. Now I pass the call to our CFO, Scott Davidson who will share a detailed overview of our financial results, Scott.