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Company Receives Approval to List on The Nasdaq Capital Market
Fourth Quarter Net Revenue Increases 197% Over Prior Year Period to $44.6 Million
Fourth Quarter Operating Income Improves to a Record $7.3 Million
Company Issues Full Year Fiscal 2013 Revenue, Operating Margin, and Earning Per Share Guidance
SALT LAKE CITY, Sept. 10, 2012 (GLOBE NEWSWIRE) -- LifeVantage Corporation (OTCBB:LFVN), a company dedicated to helping people achieve healthy living through a combination of a compelling business opportunity and scientifically validated products, including its patented dietary supplement Protandim
®, the Nrf2 Synergizer
®, today reported financial results for the fourth quarter and full year ended June 30, 2012.
Fiscal 2012 Fourth Quarter Highlights Compared to Same Period Last Year Include:
Net revenue increased 197% to $44.6 million;
Operating margin increased to 16.5% compared to 13.0%; and
Operating income grew 275% to $7.3 million.
Fiscal 2012 Full Year Highlights Compared to Fiscal 2011 Full Year Include:
Net revenue increased 224% to $126.2 million;
Operating margin increased to17.0% compared to 9.5%;
Operating income grew 480% to $21.5 million; and
Cash and cash equivalents grew to $24.6 million as of June 30, 2012 from $6.4 million as of the prior year-end.
Douglas C. Robinson, President and Chief Executive Officer of LifeVantage, stated, "We are pleased to report a strong fourth quarter and a record full year for fiscal 2012. Growing demand for and interest in our products combined with a stronger distributor base and infrastructure enabled us to increase our annual revenue by 224%, increase operating income by 480% and exceed the top end of our previously issued guidance range."
Mr. Robinson continued, "In fiscal 2012, we made strategic investments into our infrastructure and personnel in corporate administration, finance, marketing, operations, sales and R&D in order to put the necessary platform in place for us to continue our strong growth. As we begin fiscal 2013, we are excited about the opportunities ahead of us. In addition to continuing our strong organic growth in the core United States market, we plan to expand our international presence and enter new markets as well
"Our financial and operating improvements in fiscal 2012 have also enabled us to achieve a listing on The Nasdaq Capital Market for our common stock. This event marks a major milestone in LifeVantage's history and will be an important step in achieving long-term shareholder value for our company."