Natural Health Trends Corp.

Greetings. Welcome to National Health Trends Corp. Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Michelle Glidewell with Natural Health Trends Corp. Thank you. You may begin.

Thank you, and welcome to Natural Health Trends' fourth quarter and full year 2023 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 results 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 investor 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 o'clock a.m. Eastern Time. At this time, I'd like to turn the call over to Chris Scharn, President of Natural Health Trends.

Thank you, Michelle, and thanks to everyone for joining us this morning to discuss our fourth quarter and full year 2023 financial results. With me today is Scott Davidson, our Senior Vice President and Chief Financial Officer. As indicated in our financial results released earlier today, we managed to achieve a 3% sequential increase in orders compared to the third quarter of 2023. Despite continued tepid consumer sentiment in China and an overall challenging macroeconomic environment in this market, Revenue for the quarter totaled $10.9 million compared to $10.6 million last quarter and $12.5 million in the fourth quarter a year ago. We believe the quarter-over-quarter sequential uptick is largely due to the increased frequency and size of our in-person activities during the period, and we plan to sponsor more such events in the coming months to build on our growth and to help improve the effectiveness of our market campaigns. In addition, during the quarter, we generated positive net income, partly due to our ability to effectively protect margins and control costs, despite lingering inflation and a stronger dollar. In Hong Kong, we held a Fly High event in November with nearly 500 members in attendance. This activity allowed us to offer in-person training and introduce a promising new product RelaxoPro, uniquely formulated to help reduce stress and promote calmness. We look forward to hosting more of these activities in the months to come, and as it allows us to engage directly with members and build upon the excitement and energy that comes from in-person gatherings. We have just wrapped up our Abu Dhabi trip, bringing 300 Chinese members along for training and team building. This marked our first international travel for this market since the onset of the pandemic. Our participants are enthusiastic to embark on more of these adventures with us soon. Our 2024 plans prioritize and emphasize training, offerings for all types of consumers attracted to our business, from the product enthusiast to the mid-level builder to the seasoned leader. Through this systematic training that utilizes knowledgeable employees and experts in product and soft skill development, we hope to cultivate new talents and support current hardworking members. Our Taiwan team hosted its first larger-scale activity since the global pandemic. The Precision Health event is a new wellness seminar where attendees participate in various health screenings. Participants walk away with a deeper understanding of their current state of well-being, along with product knowledge and lifestyle recommendations. As we continue these precision health seminars in the future, we are hopeful this value-add can help further develop and expand the market with an influx of new members and customers. In North America, the fourth quarter was busy with activities at our three Healthy Lifestyle Plus Centers. in Matuchin, New Jersey, Roland Heights, California, and Richmond, British Columbia. Early in the quarter, we held a product roadshow showcasing our top-selling premium noni product, and we followed that up with a December premium noni manufacturing facility and corporate headquarter tour for a select group of qualifiers. In addition, qualifications just closed for our Machu Picchu incentive schedule for later this year. In Europe, we executed our incentive trip to Madeira, Spain, hosting a well-deserving group of qualifiers on a five-day trip. We were also honored to be recognized by the Swedish Direct Selling Association for a second year in a row as a top company in the market. We're pleased to conclude a year with a rise in sequential quarterly revenue. As we also end a new year, I want to express my gratitude to our committed leaders members, preferred customers, employees, and stockholders for their ongoing support of NHG Global in our range of products. We believe that our business presents an incredible opportunity for all ages, professionals, and the millions of potential customers worldwide seeking alternative avenues to enhance their personal well-being, whether it's earning some extra income or taking significant strides toward improving overall health and wellness. Our exceptional product offerings are here to support those aspirations. We extend our wishes for good health and success throughout 2024 and look forward to speaking again with an update next quarter. And now I would turn the call over to our CFO, Scott Davidson, to discuss our financial results in greater detail. Scott?