Mr. Robinson concluded, "As we enter fiscal 2013, we believe we are well-positioned to deliver another record year of revenue and operating income growth. We look forward to updating you on our progress throughout this year."
Nasdaq Capital Market Listing
The Company announced today that its common stock has been approved for listing on The Nasdaq Capital Market. Shares of LifeVantage's common stock are expected to commence trading on the Nasdaq Capital Market under its current ticker symbol "LFVN," effective at market opening on September 12, 2012.
Fiscal 2012 Fourth Quarter Results
For the fourth fiscal quarter ended June 30, 2012, the Company reported record net revenue of $44.6 million, compared to $15.0 million for the same period in fiscal 2011, an increase of 197%. On a sequential quarter basis, net revenue increased 23% from the $36.2 million reported for the Company's 2012 third fiscal quarter ended March 31, 2012.
The year-over-year sales increase was driven by increases in active independent distributors and active preferred customers. The Company defines an active independent distributor as someone who has, in the prior three months, purchased a business pack containing product and sales aids and who intends to sell product to, and actively enroll, other independent distributors and/or preferred customers. The number of active independent distributors increased to approximately 46,000 as of June 30, 2012, compared to approximately 16,000 active independent distributors as of June 30, 2011. Active preferred customers are defined as those customers who have purchased products in the past three months at wholesale price on a monthly auto-ship basis for personal consumption, without the intent to resell LifeVantage products. The number of active preferred customers increased to approximately 119,000 as of June 30, 2012, compared to approximately 35,000 active preferred customers as of June 30, 2011.
Gross profit for the fourth fiscal quarter ended June 30, 2012 increased to $38.2 million, compared to $12.9 million for the same period last year, delivering a gross margin of 85.6%, compared to 85.9% for the prior year period.