Sequential and Year-over-Year Revenue Increase
Revenue for the third quarter was $10.7 million, marking a 1% increase compared to $10.6 million in the third quarter of 2023. This also reflects an increase in net sales sequentially and year-over-year.
Improvement in Operating Loss
Operating loss for the quarter was $275,000, an improvement from $292,000 in the third quarter last year, marking improvement in the operating bottom line for three consecutive quarters.
Incentive and Expansion Activities
The company organized various incentive trips and market expansion activities, including a successful market opening in Colombia and multiple incentive trips to destinations like Turkey, Peru, and Paris.
Cash Flow Improvement
Net cash used in operating activities was $3.5 million during the first nine months of 2024, compared to $4.2 million during the comparable period a year ago, showing an improvement of $1.7 million.
Quarterly Cash Dividend
A quarterly cash dividend of $0.20 per share was declared, indicating a continued commitment to returning capital to stockholders.