LifeVantage Corporation (Nasdaq:LFVN) today reported financial results for its third quarter ended March 31, 2018.
Third Quarter Fiscal 2018 Summary:
Revenue increased 12.3% to $50.6 million year over year and 2.2% sequentially;
Revenue in the Americas increased 10.6% and revenue in Asia/Pacific & Europe increased 18.0% including a 10.1% increase in Japan, both on a year over year basis. On a sequential basis, all geographical regions generated growth, with the exception of Japan, which followed its typical seasonal pattern from the second to third quarter;
Active independent distributors stayed consistent and active preferred customers decreased 0.9% year over year and increased on a sequential basis 1.6% and 1.9%, respectively;
Adjusted EBITDA increased 109.8% year over year to $3.4 million;
Earnings per diluted share were $0.12, up from $0.00 in the prior year period; and
Adjusted earnings per diluted share were $0.12, up from $0.03 in the prior year period.
”We are pleased to report stronger third quarter sales growth on both a sequential and year over year basis,”
stated LifeVantage President and Chief Executive Officer Darren Jensen.
“We are beginning to see the benefits of our 2018 key initiatives, which are driving sales growth and improvements in our key metrics. March was the highest recruitment month in three years and