Tag Archives: Robert Sinnott

Business, Finance, Occupation & Industry

Mannatech CEO and Chief Science Officer Dr. Robert Sinnott Featured in Nutraceuticals World

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Mannatech CEO and Chief Science Officer Dr. Robert Sinnott Featured in Nutraceuticals World

Sinnott discusses the role of Open Innovation in Mannatech’s product development

COPPELL, Texas–(BUSINESS WIRE)– Mannatech, Incorporated(NASDAQ: MTEX), the leading innovator and provider of naturally sourced supplements based on Real Food Technology® solutions, is pleased to share that CEO and Chief Science Officer, Dr. Robert Sinnott was interviewed by Nutraceuticals World Magazine for their ongoing series titled “Open Innovation in Nutraceuticals & Functional Foods.“

The priority of Nutraceuticals World is to serve the manufacturers of dietary supplements, functional foods and nutritional beverages. The publication covers market and technology developments, dissects regulatory issues and provides international perspectives unique to the supplement, food and beverage market. In this particular issue, the article focuses on the actual practices of Open Innovation (OI), asking industry peers to share the experiences and challenges they have faced using these techniques for product development. Dr. Sinnott shared how Mannatech specifically incorporates Open Innovation to leverage its thousands of global distributors.

As quoted from the article from Dr. Sinnott:

“At Mannatech, we have always had enormous respect for the collective wisdom of our sales force—about 500,000 independent distributors in more than 20 countries—but the question for us was how to employ OI on a grand scale so they could be meaningfully and constructively engaged in our product ideation and development process.”

“The proof of the success of our innovative application of OI is, of course, reflected in the bottom line. We believe that our associates can sell these products with passion because they were created with their input and are thus fundamentally aligned with their beliefs and their needs.”

Open Innovation has contributed to the development of several of Mannatech’s proprietary products such as PhytoBurst® Chews, Omega-3 with Vitamin D3, GI-ProBalance® and BounceBack®. Mannatech’s newest flagship product, NutriVerus™ Powder (launched in May 2012), was specifically developed in response to suggestions made on the MannaThink℠ forum. Mannatech facilitates and fosters the culture of Open Innovation by hosting a dedicated website for its associates called MannaThink.

The full transcription of the interview can be found HERE. Individuals interested in Mannatech’s products or in exploring its business opportunity …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Mannatech Reports Fourth Quarter and Year End Results

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Mannatech Reports Fourth Quarter and Year End Results

COPPELL, Texas–(BUSINESS WIRE)– Mannatech, Incorporated(NASDAQ: MTEX), a leading developer and provider of nutritional supplements and skin care products based on Real Food Technology® solutions, today announced financial results for its fourth quarter and year end 2012.


Fourth Quarter Results

Fourth quarter net sales for 2012 were $42.3 million, a decrease of 11.7% compared to $47.9 million in the fourth quarter of 2011. Net sales for United States and Canada declined 14.4% to $20.2 million compared to $23.6 million in the fourth quarter of 2011. International net sales of $22.1 million decreased 9.1% compared to $24.3 million in the fourth quarter of 2011.

Net income was $0.3 million, or $0.10 per diluted share, for the fourth quarter of 2012, compared to net loss of ($7.0 million), or ($2.63) per diluted share, for the fourth quarter of 2011.

Dr. Robert Sinnott, CEO & Chief Science Officer, commented, “Mannatech has achieved profitability in the last half of 2012. This is an important milestone in our financial recovery. We believe our strategies for 2013 will continue to increase our cash flow and improve the current sales trends.”


Year End Results

Annual net sales for 2012 were $173.4 million, down 13.6% from $200.7 million for 2011. The company reported a net loss for 2012 of $1.4 million, compared to a net loss of $20.7 million in 2011. The loss per share was $0.52 in 2012, compared to the loss per share of $7.80 in 2011.

The total number of independent associates and members based on a 12-month trailing period was approximately 229,000 as of each of December 31, 2012 and 2011. The number of new independent associates and members for 2012 was 97,000, compared to 77,000 in 2011, which was an increase of 20,000 over the previous year.

Dr. Robert Sinnott further commented, “We are pleased our consumers and independent business builders have accepted our newest product, NutriVerus, which was launched globally during 2012. We believe this product acceptance, as well as the increase in …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Mannatech Hires Industry Veteran as President of International, COO

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Mannatech Hires Industry Veteran as President of International, COO

Roy Truett brings a wealth of experience and expertise to Mannatech

COPPELL, Texas–(BUSINESS WIRE)– Mannatech, Incorporated(NASDAQ: MTEX), the leading innovator and provider of naturally sourced supplements based on Real Food Technology® solutions, announced today the hiring of Roy Truett as President of International and Chief Operating Officer, effective immediately.

Mr. Truett brings a wealth of experience working at the executive level in both the direct sales and nutritional industries. Most notably, he spent 12 years serving at USANA Health Sciences, beginning as Director of IT, then quickly taking on additional responsibilities for the company, including Chief Information Officer. Most recently, he began serving as the company’s Global Chief Operating Officer in May 2011. As COO, he was responsible for the company’s day-to-day operating activities and enhancing the internal organization process. He was also accountable for many key departments, including information technology, supply chain management, compensation plan strategies, project management and inventory control.

Mr. Truett, a seasoned veteran of the industry, will lead Mannatech’s operational efforts at the corporate level globally and drive growth strategies internationally. He will oversee the company’s efforts in international operations, supply chain and I.T., and will also be involved in all strategic decisions for the company as part of the Senior Executive Office.

“I’m excited about Mannatech’s unique position in the market and the opportunity I have to work with a great team,” said Roy Truett, President of International and Chief Operating Officer. “Mannatech has always had a reputation for offering the most advanced, scientifically-based, effective nutritional products in the industry. I’m equally impressed with the company’s commitment to its mission of fighting global malnutrition. My goal is to help move the company forward to new heights and further streamline our operations so our Independent Associates can share the message of Mannatech, building their businesses and securing their own financial freedom.”

“At Mannatech, we are committed to excellence. Adding Roy Truett to our team shows that we are acting on that commitment to constantly improve,” said Dr. Robert Sinnott, CEO and Chief Science Officer. “The entire management team is enthusiastic about working alongside someone with Roy’s skills, expertise and leadership. As a company, we’ve been laser-focused on driving initiatives that lead to sales growth as well as continually improving operational excellence. Roy’s experience and proven track record as a successful leader in operational areas and international growth will help us to …read more
Source: FULL ARTICLE at DailyFinance