Greetings, and welcome to the Nature’s Sunshine Products Second Quarter 2017 Earnings Conference Call. All participants are in a listen-only mode and this conference is being recorded. I would now like to turn the conference over to your host, Mr. Nate Brower, Associate General Counsel of Nature’s Sunshine Products. Thank you. Mr. Brower, you now have the floor.

Good afternoon. Thanks to all of you for joining our conference call to discuss our second quarter 2017 financial results. This call is available for replay in a live webcast that we posted on our website at www.naturessunshine.com in the Investors section. The press release which was issued this afternoon at approximately 4:55 P.M. Eastern Time and the information on this call may contain certain forward-looking statements, which are based on a number of assumptions that are subject to change and involve known and unknown risks, uncertainties or other factors, which may not be within the Company’s control. These statements are often characterized by terminologies such as believe, hope, may, anticipate, expect, will, and other similar expressions. Forward-looking statements are not guarantees of future performance and the actual results, performance or achievement of the company may be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to those factors disclosed in the Company’s Annual Report on Form 10-K, under the caption Risk Factors and other reports filed with the Securities and Exchange Commission. The press release and the information on this call speak only as of today’s date and the Company disclaims any duty to update the information provided herein and therein. I will now turn the call over to Greg Probert, Chairman and CEO of Nature’s Sunshine Products.

Thanks, Nate. Good afternoon, everyone, and thank you for your participation in today’s call. Also joining me today is our Chief Financial Officer, Joe Baty. We reported second quarter net sales of $81.3 million, which were down 9.0% year-over-year. While we saw a continued growth in NSP Russia, Central and Eastern Europe the growth was more than offset by declines in NSP Americas and Synergy WorldWide. Second quarter results for NSP Americas were negatively impacted by disruptions associated with the implementation of the Company’s Oracle ERP system. As we’ve noted last quarter, we went live in both our NSP Americas and corporate operations in April. We anticipate that the amortization cost of the Oracle system would impact our earnings in the second quarter and beyond, as Joe discussed last quarter. However, we also encountered unanticipated disruptions to certain operational functions within the organization that negatively impacted sales and earnings during the quarter. These operational challenges included increased wait times in our call center, difficulties with our online ordering system and a negative impact to promotional activity. We are working diligently to correct these issues but continue to encounter challenges. While we are working to return to targeted levels of operational performance, we anticipate that continued implementation challenges could have an ongoing impact to revenue and profitability throughout the remainder of the year. We will remain cautious with the pace of implementation until the challenges are corrected. In spite of these disruptions during the initial implementation, I am confident that the long-term benefits of the enhanced ERP system will be evident over the coming years. During the second quarter we continue to face pressure in Korea. As many of our peers in a direct selling industry have also noted there is a challenging environment in this market as a result of…

Thank you, Greg and good afternoon, everyone. Net sales in the second quarter of 2017 were $81.3 million compared to $89.4 million in the same quarter last year. On a local currency basis, net sales declined by 8.9% year-over-year. As Greg noted, the decrease was driven primarily by significant declines in net sales in Synergy Worldwide and NSP Americas as well as year-over-year reduction in China and new market sales partially offset the growth in NSP Russia, Central and Eastern Europe. NSP Americas sales declined 11.9% to $39.4 million during the second quarter. Net sales in the United States were down 11.3% and Canada declined 7.8% on a local currency basis primarily due to the interruptions in customer service as a result of the Oracle implementation Greg discussed. Sales in NSP Latin America were also impacted by the implementation of Oracle as well as continued headwinds relating to product registration that have affected sales over the last year. NSP Latin America was down 14% on a local currency basis. Synergy WorldWide net sales in the second quarter declined 8.2% year-over-year to $30.4 million on a local currency basis. This decrease was primarily due to sales declines in the segments Asia Pacific in Europe regions offset by modest growth in North America. The decline in Synergy Asia was primarily driven by South Korea, were sales declined 21.8% on a local currency basis. As Greg noted, economic conditions and the distributor engagement challenges that impacted sales may continue for the foreseeable future and therefore they continue to negatively impact the Company’s reserves in Korea. In Europe sales declined 7.1% on a local currency basis, while sales in North America increased 4.1% over the second quarter of last year. In NSP Russia, Central and Eastern Europe net sales rose 6.1% in local currencies…

Ladies and gentlemen we have reached the end of the question-and-answer session. I’d now like to turn the call back to management for closing remarks.

Well. Thank you again for your support and for participating on today’s call. Have a great day. Thank you.

Thank you.

This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.