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M MANNATECH Mannatech Reports Third Quarter End 2021 Financial Results ( FLOWER MOUND , Texas ) November 12 , 2021 - Mannatech , Incorporated ( NASDAQ : MTEX ) , a global health and wellness company committed to transforming lives to make a better world , today announced financial results for its third quarter of 2021 . Third Quarter End Results Third quarter net sales for 2021 were $ 39.4 million , an increase of $ 1.4 million , or 3.9 % , as compared to $ 38.0 million in the third quarter of 2020. Income from operations increased to $ 3.3 million for the third quarter of 2021 , from $ 1.4 million in the same period in 2020 . Net income was $ 2.9 million , or $ 1.44 per diluted share , for the third quarter of 2021 , as compared to net income of $ 1.6 million , or $ 0.76 per diluted share , for the third quarter of 2020 . For the three months ended September 30 , 2021 , overall selling and administrative expenses increased by $ 0.5 million to $ 7.1 million , as compared to $ 6.6 million for the same period in 2020. The increase in selling and administrative expenses consisted of a $ 0.9 million increase in payroll costs , which was partially offset by a $ 0.3 million decrease in marketing costs and a $ 0.1 million decrease in contract labor . For the three months ended September 30 , 2021 , other operating costs decreased by $ 0.1 million , or 2.0 % , to $ 5.0 million , as compared to $ 5.1 million for the same period in 2020. The decrease in operating costs was primarily due to a $ 0.3 million increase in consulting fees , which was offset by a $ 0.2 million decrease in bad debt expense and a $ 0.2 million decrease in sales tax expenses resulting from less utilization of the loyalty program and a sales tax audit refund . For the three months ended September 30 , 2021 , provision for taxes was $ 0.4 million , or an effective rate of 10.7 % , which is different from the federal statutory rate due primarily to the Company taking the IRC 250 deduction and applying foreign tax credits . For the three months ended September 30 , 2020 , provision for taxes was $ 22,000 , or an effective rate of 1.3 % . The effective tax rate for the three months ended September 30 , 2021 and 2020 was determined based on the estimated annual effective income tax rate . The approximate number of new and continuing independent associate and preferred customer positions held by individuals in Mannatech's network and associated with purchases of products as of September 30 , 2021 and 2020 were approximately 166,000 and 180,000 , respectively . Recruitment of new independent associates and preferred customers decreased by 1.4 % to 25,036 in the third quarter of 2021 as compared to 25,388 in the third quarter of 2020 . Year - to - date Third Quarter Results For the nine months ended September 30 , 2021 , net sales were $ 120.3 million , an increase of $ 8.1 million , or 7.2 % , as compared to $ 112.2 million for the same period in 2020. Income from operations increased to $ 8.1 million for the nine months ended September 30 , 2021 , from $ 4.5 million in the same period in 2020 . Net income was $ 7.3 million , or $ 3.47 per diluted share , for the nine months ended September 30 , 2021 , as compared to net income of $ 5.5 million , or $ 2.38 per diluted share , for the same period in 2020 .