This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LifeVantage Announces Preliminary Record Fourth Quarter And Fiscal Year 2011 Results

Stocks in this article: LFVN

SALT LAKE CITY, Aug. 25, 2011 /PRNewswire/ -- LifeVantage Corporation (OTCBB: LFVN), makers of Protandim®, the Nrf2 Synergizerâ„¢ patented dietary supplement, announced preliminary results for the fourth quarter and fiscal year ended June 30, 2011.  

(Logo:   http://photos.prnewswire.com/prnh/20090930/LIFEVANTAGELOGO)

For the fourth quarter of fiscal 2011, the Company reported record net revenue of $15.0 million, compared to net revenue of $4.4 million in the same period last year, an increase of 241%.  On a sequential basis, net revenue increased 50% from the $10.0 million reported for the third fiscal quarter ended March 31, 2011.  

Operating income for the fourth fiscal quarter of 2011 is anticipated to be approximately $2 million, compared to an operating loss of $290,000 in the same period last year.  The fourth quarter of fiscal 2011 represents the fourth consecutive quarter of achieving operating income.  

For the full year fiscal 2011, the Company generated net revenue of $38.9 million, a 238% increase compared to $11.5 million in fiscal 2010.  Operating income for fiscal 2011 is anticipated to be approximately $3.7 million, compared to an operating loss of $7.3 million in fiscal 2010, which represents a year-over-year improvement in operating income of approximately $11 million.    

The Company expects to end fiscal year 2011 with approximately $6.3 million of cash and cash equivalents and no long-term debt.  During fiscal 2011, an aggregate face value of $5.6 million in debt was converted into shares of the Company's common stock, eliminating all long term debt.

"We are extremely excited with the tremendous progress we made in fiscal 2011, as we generated record revenue for both the fourth quarter and full year.  We also achieved positive operating income for each quarter of fiscal 2011 and significantly improved our balance sheet," stated Douglas Robinson, LifeVantage CEO.  "The strong year-over-year improvements in our financial performance exhibit the increased awareness of our scientifically proven products and the strengthened business platform we have created.  During fiscal 2011, we made strategic investments into our sales and marketing, research and development, and other key personnel in order to expand our product presence and to support our long-term growth opportunities.  These investments have helped drive the record results we are announcing today."

Mr. Robinson continued, "Looking toward fiscal 2012, we are confident that we are well positioned to deliver another record year for revenue and operating income.  We also continue to benefit from new independently published studies discussing the advantages of Protandim® which raise our product profile in consumer markets and with medical professionals.  The scientific evidence supporting Protandim continues to expand.  New studies provide additional learning about the efficacy of Protandim and the science behind it, including its ability to activate the transcription factor Nrf2.  Throughout fiscal 2012, we will continue to expand the distribution of our existing products and explore opportunities to introduce new products that help individuals improve their health and wellness.  To that end, we are also pleased to announce that while Canada is not open to distributors, we are now making Protandim and TrueScience available directly to Canadian consumers."

The Company will provide further results in its complete fourth quarter and full year fiscal 2011 earnings release and conference call which are expected to occur by the end of September, 2011.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs