Third Quarter Net Revenue Increased 39% Over Prior Year Period to $50.4 Million Independent Distributors Grew 19% in Third Quarter, 2013 Compared to Second Quarter, 2013 Company Generated Net Income of $3.4 Million Company Announces Intent to Pursue $30-$40 Million Share Repurchase Program Company Updates Full Year Fiscal 2013 Guidance
SALT LAKE CITY, May 9, 2013 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN), a company dedicated to helping people achieve healthy living through a combination of a compelling business opportunity and scientifically validated products, today reported financial results for the fiscal 2013 third quarter and the nine months ended March 31, 2013.
Fiscal 2013 Third Quarter Highlights:
- Net revenue increased 39% to $50.4 million compared to same period last year;
- Gross profit increased to $43.5 million compared to $31.2 million in same period last year;
- The number of active independent distributors increased to approximately 63,000 as of March 31, 2013, compared to 55,000 as of December 31, 2012 and 37,000 as of March 31, 2012; and
- The Company completed $5 million stock repurchase program announced on December 15, 2012.
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