Advantage Marketing Systems, which sells and markets nutritional supplements, reported an 18 per cent drop in net sales for the 2002 second quarter on the same period last year.
The business achieved $5.9 million (€6m) in sales for the second quarter ended 30 June 2002 compared to sales of $7.1 million for the comparable quarter last year.
Net income for the second quarter of 2002 was $77,427, compared to net income of $165,359, in the second quarter of the previous year. Advantage said that it had invested in new sales and marketing strategies and a new website.
Company directors remained confident despite the decline in sales. "Profitable quarters have become the norm for Advantage Marketing Systems. This past quarter, like so many of the ones before it, show how financially stable the company has become," said CEO John Hail.
"In the second quarter the company implemented several new sales and marketing strategies geared towards increasing future revenues," said Craig Case, president of Advantage Marketing Systems. "These strategies include our new dream-builder recognition program and the development of our new website and Premier Health Systems."
Sales for the first six months of the current fiscal year reached $12.1 million compared to $14.2 million last year. Net income for the first six months of FY2002 was $168,915, compared to net income of $183,006 in 2001.
Advantage Marketing Systems was named in the July/August 2001 issue of Fortune Small Business magazine as the 31st fastest-growing small company in America.