Greetings, and welcome to the Nature’s Sunshine Products' Fourth Quarter and Full Year 2018 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, General Counsel of Nature’s Sunshine Products. Thank you, Mr. Brower. You now have the floor.

Good afternoon. Thanks for joining our conference call to discuss our fourth quarter and full year 2018 financial results. This call will be available for replay from our Web site at naturessunshine.com. The information on this call may contain certain forward-looking statements, which are often characterized by terminology, such as believe, hope, may, anticipate, expect, will and other similar expressions. Such statements are not guarantees of future performance, and actual results may be materially different from the results implied by forward-looking statements. Factors that could cause results to differ materially from those implied herein include, but are not limited to, those factors set forth in the company’s reports filed with the Securities and Exchange Commission, under the caption risk factors. The information on this call speaks only as of today’s date and the company disclaims any duty to update the information provided herein. I now turn the call over to our Chief Executive Officer, Mr. Terrence Moorehead.

Thank you, Nate. And good thank year everyone for joining today's call. I'm very pleased to be here with you today to discuss our fourth quarter results and to share some of our emerging products around the business. Our Chief Financial Officer, Joe Baty, is here with me today and he'll be providing some more details and insights into our fourth quarter results. But I'd like to start today by providing some background and an overview of the business. Let me begin by saying that we closed 2018 with strong momentum, delivering double-digit revenue growth, improved margins and a new vision to support continued top-line growth with improved profitability. The vision is to be more consumer-focused with the goal of becoming more modern, more flexible and more profitable, in both our processes and our interactions with consumers. We're still in the process of finalizing our strategic roadmap and the specific initiatives that will bring our vision to life. But our goal is just rolling out the strategies in the first half of 2019 so that they can selectively begin to have an impact on the back half of the year. Based on where we are today and the growth in the market, we really do like what we're seeing. We feel good about our current momentum. And as a result, we feel confident about 2019. Our long-term objective is to reposition the company to allow us to appropriately participate in and benefit from the ongoing industry growth that’s expected in the future. Now, I'd like to briefly share a few highlights and trends from the quarter. Sales for the fourth quarter were up to 11.3% in local currency versus prior year, while adjusted EBITDA quadrupled on a year-over-year basis. The strong sales growth was driven by continued positive momentum in…

Thank you, Terrence and good afternoon everyone. Net sales in the fourth quarter of 2018 were $97.4 million compared to $88.3 million in the same quarter last year. On a local currency basis, net sales increased 11.3% year-over-year for 10.3% as reported. The increase in net sales was driven primarily by a $6.7 million increase in Synergy Asia Pacific, a $4.2 million increase in NSP China, a $1.9 million increase in NSP Russia, Central and Eastern Europe and a $0.3 million increase in Synergy North America, which was partially offset by $3.3 million decline in NSP Americas and $0.8 million decline in Synergy Europe. Net sales were also negatively impacted by $0.9 million of unfavorable foreign currency exchange rate fluctuations. NSP North America sales declined 6.4% year-over-year to $32.1 million during the fourth quarter, or a 6.1% decline in local currencies. Sales in NSP Latin America declined 17.5% year-over-year to $5.3 million or 15.4% decline in local currencies. We continue to see lower recruiting rates that are not offsetting attrition in NSP Americas, and we expect this trend may continue in the near term until our new strategies and initiatives gain traction. Synergy Worldwide net sales in the fourth quarter grew 19.9% year-over-year to $38 million, or a 21.5% increase on a local currency basis. Net sales in Synergy Asia Pacific increased 28.8% year-over-year on a local currency basis, driven by continued strong sales momentum in South Korea, as Terrence mentioned. Sales in Europe declined 10.2% year-over-year while sales in North America grew 11.9%, both on a local currency basis over the fourth quarter of last year. NSP China net sales increased 59.6% year over year to $11.2 million, or a 61.1% increase on a local currency basis. And NSP Russia, Central and Eastern Europe net sales rose 21.1% year-over-year…

Okay. Well, again, thanks everybody for all of your support and for participating in today’s call. Again, we continue to feel good about our business and the momentum that we have behind us and also about the journey that lie ahead of us. We are committed to putting together and ensuring with you very quickly a strategy that is reflective and going to be competitive in the marketplace, and help us continue to build momentum going forward. So again, I want to thank you for all of your support and look forward to getting together again in the future. Thank you very much. Have a great day.

This concludes today’s teleconference. You may now disconnect your lines at this time. Thank you for your participation, and have a wonderful day.