-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UXvkcoxP76ZrZvzGX9AQqXxu1u88dDKlg7VyOLHkJ75qdcJZIz81oTJi3Q9RHxaA
 8C8EwaPnKtZ9OYDYWO7d7g==

<SEC-DOCUMENT>0001102624-08-000126.txt : 20080515
<SEC-HEADER>0001102624-08-000126.hdr.sgml : 20080515
<ACCEPTANCE-DATETIME>20080515073202
ACCESSION NUMBER:		0001102624-08-000126
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080514
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080515
DATE AS OF CHANGE:		20080515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATURAL HEALTH TRENDS CORP
		CENTRAL INDEX KEY:			0000912061
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]
		IRS NUMBER:				592705336
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26272
		FILM NUMBER:		08834019

	BUSINESS ADDRESS:	
		STREET 1:		2050 DIPLOMAT DRIVE
		STREET 2:		--
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		972-241-4080

	MAIL ADDRESS:	
		STREET 1:		2050 DIPLOMAT DRIVE
		STREET 2:		--
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>naturalhealthtrends8k.htm
<DESCRIPTION>NATURAL HEALTH TRENDS 8-K
<TEXT>
<table cellpadding="3" border="0" cellspacing="0" width="100%">
<tr><td>
</td></tr>
</table>
<center>
<table border=0 cellpadding=3 cellspacing=0>
<tr><td align="center"><br><br>
<B>UNITED STATES</B><br>
<B>SECURITIES AND EXCHANGE COMMISSION</B><br>
Washington, D.C. 20549<p>
<hr size=1>
<p><b>FORM 8-K<p>
CURRENT REPORT
<p>
Pursuant to Section 13 or 15(d) of the<br>Securities Exchange Act of 1934.
</td>
</tr>
</table>
<p>
<b>
<table border=0 cellpadding=0 cellspacing=0>
<tr><td colspan=5 align=center>
<b>Date of Report: May       14, 2008</b><br>
(Date of earliest event reported)<br><br>
</td></tr>
<tr><td colspan=5 align=center>
<b>Natural Health Trends Corp.</b><br>
(Exact name of registrant as specified in its charter)
</td></tr>
<tr><td colspan=5><br></td></tr>
<tr>
<td align=center colspan=2 width="40%" valign="top">
<b>TX</b><br>
(State or other jurisdiction <br>of incorporation)
</td>
<td align=center width="20%" valign="top">
<b>0-26272</b><br>
(Commission File Number)
</td>
<td align=center colspan=2 width="40%" valign="top">
<b>59-2705336</b><br>
(IRS Employer <br>Identification Number)
</td>
</tr>
<tr><td colspan=5><br></td></tr>
<tr>
<td align="center" colspan=2>
<b>2050 Diplomat Drive</b><br>
(Address of principal executive offices)
</td>
<td>&nbsp;</td>
<td align="center" colspan=2>
<b>75234</b><br>
(Zip Code)
</td>
</tr>
<tr><td colspan=5 align=center><br>
<b>(972) 241-4080</b><br>(Registrant's telephone number, including area code)
</td></tr>
<tr><td colspan=5><br></td></tr>
<tr><td colspan=5 align=center>
<b>Not Applicable</b><br>(Former Name or Former Address, if changed since last report)<br>
</td></tr>
</table>
</center>
<br><br>
</b>
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br>
<dl>
 <dd><font face="wingdings">o</font> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
 <dd><font face="wingdings">o</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
 <dd><font face="wingdings">o</font> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  <br>
 <dd><font face="wingdings">o</font> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  <br>
</dl>
<hr size=1>
<table width=100%>
<tr><td width="100%">
<b>Item 2.02. Results of Operations and Financial Condition</b></b><br>
<br>
On May 14, 2008, Natural Health Trends Corp. issued an earnings release announcing its results for the quarter ended March 31, 2008. The press release is attached hereto as exhibit 99.1.
<p>
<b>Item 9.01. Financial Statements and Exhibits</b></b><br>
<br><b>(a) Financial statements:</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  None<br>
<b>(b) Pro forma financial information:</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  None<br>
<b>(c) Shell company transactions:</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  None<br>
<b>(d) Exhibits</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  99.1 &nbsp; &nbsp; &nbsp; <a href="naturalhealthtrends.htm">Press Release of Natural Health Trends Corp. dated May       14, 2008</a></b>
<p>
<p>
<hr size=1>
<b><center>SIGNATURE</center></b>
<p>
&nbsp; &nbsp; &nbsp; Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
              signed on its behalf by the undersigned hereunto duly authorized.<p>
</td></tr>
</table>
<br>
<table>
<tr>
<td width="50%" valign=top>
Dated: May       14, 2008<br>
</td>
<td>
<b>NATURAL HEALTH TRENDS CORP.</b>
<p>
By: <u>&nbsp;/s/ Chris Sharng &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </u> <br>
&nbsp; &nbsp; &nbsp;Chris Sharng<br>
&nbsp; &nbsp; &nbsp;<i>President</i><br>
</td></tr>
</table>
<hr>
<center>
<table border=0 width="100%">
<tr><td colspan=2>
<center><b>Exhibit Index</b></center>
</td>
</tr>
<tr>
<td width=50% align=center><b><u>Exhibit No.</u></b></td>
<td width=50% align=center><b><u>Description</u></b></td>
</tr>
<tr>
<td align=center>99.1</td>
<td align=center>Press Release of Natural Health Trends Corp. dated May       14, 2008</td>
</tr>
</table>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>naturalhealthtrends.htm
<DESCRIPTION>NATURAL HEALTH TRENDS PRESS RELEASE
<TEXT>

<p></p>
<b>Natural Health Trends Announces Improved Results in the First Quarter</b>
<p>DALLAS, TX -- 05/14/2008 --  Natural Health Trends Corp. (NASDAQ: BHIP) today
announced its financial results for the quarter ended March 31, 2008, which
were a significant improvement over the previous periods.
</p>
<p>
Sales in the first quarter of 2008 were $11.4 million and net loss improved
to $0.7 million, compared with a net loss of $5.0 million in the first
quarter of 2007.
</p>
<p>
Chris Sharng, the Company's president, said, "Though the Company incurred
an operating loss of $0.7 million in the first quarter, non-cash items such
as depreciation, stock-based compensation and certain accounting charges on
the implicit debentures' interest costs, totaled $0.9 million.  In the
month of March, our business operations were cash positive.  We believe
that we have regained nascent revenue momentum through certain personnel
changes, compensation plan changes and dynamic training sessions.  We
recognize that there are plenty of challenges ahead, but the measures we
took to stabilize revenue and reduce costs are working."
</p>
<p>
Mr. Sharng continued, "The sales momentum that picked up in the first
quarter is continuing into the second quarter.  The price increase that was
implemented in certain markets in March is expected to improve our gross
profit margin, sufficiently covering the effect of an expected increase in
Chinese custom rates and an enhanced commission payout.  Although most of
the significant cost-saving opportunities have been realized, we are still
working to lower certain fixed costs in Hong Kong and China.  We expect to
see continued improvements in our cash flow now that we have stabilized our
revenue and significantly lowered our operating costs."
</p>
<p>
The company plans to host a conference call at 11:30 a.m. EDT, May 15,
2008.  Those who wish to participate may call telephone number (866)
672-2663, or (973) 582-2772 for international callers, 15 minutes before
11:30 a.m. EDT.  Callers will need to give the conference identification
number, which is 47250099.  If you cannot participate in the call, but wish
to hear it, you may login to the company's homepage at
www.naturalhealthtrendscorp.com and click on the conference call 1 1/2
hours after the completion of the call.
</p>
<p>
About Natural Health Trends Corp.
</p>
<p>
Natural Health Trends Corp. is an international direct-selling and
e-commerce company operating through its subsidiaries throughout Asia,
North America, Europe and Latin America. The company markets premium
quality personal care products under the NHT Global brand. Additional
information can be found on the company's website, and management
encourages interested parties to register for updated corporate information
via email on the company's home page, www.naturalhealthtrendscorp.com.
</p>
<p>
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995 -- Forward-looking statements in this release do not constitute
guarantees of future performance.  Such forward-looking statements are
subject to risks and uncertainties that could cause our actual results to
differ materially from those anticipated.  Such risks and uncertainties
include the risks and uncertainties detailed under the caption "Risk
Factors" in our Annual Report on Form 10-K filed on March 31, 2008, with
the Securities and Exchange Commission.  We assume no obligation to update
any forward-looking information contained in this press release or with
respect to the announcements described herein.
</p>
<p>
<pre>
                        NATURAL HEALTH TRENDS CORP.

                        CONSOLIDATED BALANCE SHEETS
                     (In Thousands, Except Share Data)

                                                December 31,    March 31,
                                                    2007          2008
                                                ------------  ------------
                                                               (Unaudited)
                     ASSETS
Current assets:
    Cash and cash equivalents                   $      6,282  $      4,657
    Restricted cash                                      298           196
    Accounts receivable                                  418           357
    Inventories, net                                   3,585         2,827
    Other current assets                               1,324         1,740
                                                ------------  ------------
Total current assets                                  11,907         9,777
Property and equipment, net                            1,537         1,363
Goodwill                                               1,764         1,764
Intangible assets, net                                 2,600         2,400
Restricted cash                                        4,317         4,356
Deferred tax assets                                      208           196
Other assets                                           2,363         2,204
                                                ------------  ------------
Total assets                                    $     24,696  $     22,060
                                                ============  ============

      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
    Accounts payable                            $      2,168  $      1,879
    Income taxes payable                                 363           412
    Accrued distributor commissions                    2,018         1,646
    Other accrued expenses                             3,599         3,276
    Deferred revenue                                   3,496         2,570
    Current portion of convertible debentures,
     net of discount of $151 and $382 at
     December 31, 2007 and March 31, 2008,
     respectively                                        203           503
    Other current liabilities                          3,254         3,147
                                                ------------  ------------
Total current liabilities                             15,101        13,433
Convertible debentures, net of discount of
 $3,896 and $3,365 at December 31, 2007 and
 March 31, 2008, respectively                              -             -
                                                ------------  ------------
Total liabilities                                     15,101        13,433
Commitments and contingencies
Minority interest                                         33            37
Stockholders' equity:
    Preferred stock, $0.001 par value;
     5,000,000 shares authorized; 1,761,900
     shares designated Series A convertible
     preferred stock, 138,400 shares issued and
     outstanding at December 31, 2007 and March
     31, 2008, aggregate liquidation value of
     $250                                                124           124
    Common stock, $0.001 par value; 50,000,000
     shares authorized; 10,327,405 and
     10,347,126 shares issued and outstanding
     at December 31, 2007 and March 31, 2008,
     respectively                                         10            10
    Additional paid-in capital                        79,158        79,322
    Accumulated deficit                              (70,989)      (71,697)
    Accumulated other comprehensive income:
       Foreign currency translation adjustments        1,259           831
                                                ------------  ------------
Total stockholders' equity                             9,562         8,590
                                                ------------  ------------
Total liabilities and stockholders' equity      $     24,696  $     22,060
                                                ============  ============




                      NATURAL  HEALTH  TRENDS  CORP.

          CONSOLIDATED  STATEMENTS  OF  OPERATIONS  (UNAUDITED)
                  (In Thousands, Except Per Share Data)

                                                        Three Months Ended
                                                             March 31,
                                                        ------------------
                                                          2007      2008
                                                        --------  --------

Net sales                                               $ 21,515  $ 11,395
Cost of sales                                              5,697     3,090
                                                        --------  --------
Gross profit                                              15,818     8,305
Operating expenses:
    Distributor commissions                               10,424     3,997
    Selling, general and administrative expenses
     (including stock-based compensation expense of $79
     and $164 during 2007 and 2008, respectively)          9,389     4,596
    Depreciation and amortization                            489       386
    Impairment of long-lived assets                          532        24
                                                        --------  --------
Total operating expenses                                  20,834     9,003
                                                        --------  --------
Loss from operations                                      (5,016)     (698)
Other income:
    Gain on foreign exchange                                  17       371
    Interest income                                          179        35
    Interest expense (including amortization of debt
     issuance costs and accretion of debt discount of
     $362 in 2008)                                            (3)     (387)
    Other                                                     (4)        8
                                                        --------  --------
Total other income, net                                      189        27
                                                        --------  --------
Loss before income taxes and minority interest            (4,827)     (671)
Income tax provision                                        (210)      (37)
Minority interest                                             (1)        -
                                                        --------  --------
Net loss                                                  (5,038)     (708)

Preferred stock dividends                                      -        (4)
                                                        --------  --------
Net loss attributable to common stockholders            $ (5,038) $   (712)
                                                        ========  ========

Loss per share - basic and diluted                      $  (0.61) $  (0.07)
                                                        ========  ========

Weighted-average number of shares outstanding              8,200     9,567
                                                        ========  ========
</pre>

</p>
<pre>
Contact:

Jean Bono
Natural Health Trends Corp.
investor.relations@nhtglobal.com</a>


</pre>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
