LifeVantage Announces Financial Results for Fiscal Year 2016 and the First Quarter of Fiscal 2017
Company files Forms 10-K and 10-Q for periods ended June 30, 2016 and
September 30, 2016, respectively
Expects to regain compliance with Nasdaq listing rules
First Quarter of Fiscal 2017 Revenue Increased 21.0% year-over-year
Fourth Quarter of Fiscal Year 2016 Revenue Increased 17.1% year-over-year
Fiscal Year 2016 Revenue Increased 8.5% to $206.5 million
Company Initiates Fiscal 2017 Guidance
LifeVantage Corporation (Nasdaq:LFVN) today reported financial results for its fourth fiscal quarter and full fiscal year ended June 30, 2016; and its first fiscal quarter of 2017.
“Today we filed our Form 10-K for fiscal 2016 and our Form 10-Q for the first fiscal quarter of 2017 and are again current with our SEC filings, which puts us back into compliance with our loan covenants and is expected
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LifeVantage Enhances International Leadership Team
by Ted Nuyten • • 0 Comments
LifeVantage Corporation (Nasdaq: LFVN) announced the expansion of its International leadership team.
Courtland Pearson has been appointed Senior Vice President of International for the company, effective July 2, 2016.
Mr. Pearson has enjoyed an extensive and successful career in the direct selling industry.
He brings more than 22 years of multifunctional international business experience based in the United States and Japan, having served in distributor support, operations, sales, and country and regional management roles in Japan as well as in Korea, Thailand, Malaysia, Singapore, Hong Kong and Taiwan.
Mr. Pearson has spent more than 17 years in executive management and people leadership roles at Nu Skin Enterprises and Neways International/Modere.
Additionally, he spent five years with Otsuka Pharmaceutical Co., Ltd., one of the largest privately owned companies in Japan with a product offering
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LifeVantage Appoints New Members To Board of Directors
by Nicole Dunkley • • 0 Comments
LifeVantage Corporation, recently announced today the appointment of Darren Jensen, the company’s President and Chief Executive Officer, and Dave Toole, a new independent director, to its Board of Directors. The election of Mr. Jensen and Mr. Toole brings the number of Directors to seven members and retains the independence of the Board.
“It is with pleasure that I accept the election to LifeVantage’s Board of Directors,” said Mr. Jensen. “I am honored to work together with our Board to continue to execute our growth plan.”
Mr. Toole stated, “I am pleased to join the Board of Directors of LifeVantage. The company has a strong foundation with effective and scientifically-backed products and has a number of exciting growth initiatives in place. I look forward to applying my experience to help LifeVantage maximize its potential.”
Garry Mauro,
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LifeVantage Launches Mobile Back Office App
by Ramya Chandrasekaran • • 0 Comments
LifeVantage Corporation has launched LifeVantage Pro, a proprietary mobile back office application specifically designed for its network of independent Distributors. The LifeVantage Pro App provides the Distributors access to their personal businesses in real-time and allows them to prospect from their contact list, place orders, view up-to-date business qualifications, and enroll people into their organizations – all directly from their smart phones.
“It is important for LifeVantage to adapt to the new technology paradigms taking shape within our industry,” said LifeVantage President and Chief Executive Officer Darren Jensen. “Anyone with a smartphone, tablet, laptop, or home computer now has the ability to manage their business from anywhere in the world. We will continue to deploy resources to this and other technology applications that will streamline our enrolment platform across all technologies, enhance business management
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LifeVantage Reports $45.4 Million Q1 Fiscal 2016
by Ramya Chandrasekaran • • 0 Comments
LifeVantage Corporation today reported financial results for its first quarter ended September 30, 2015.
First Quarter Fiscal 2016 Highlights:
Revenue was flat at $45.4 million when compared sequentially to $45.3 million for the fourth fiscal quarter of 2015;
Revenue in the Americas increased 3.0% and revenue in Asia/Pacific decreased 8.2% on a sequential basis;
Adjusted EBITDA increased 43% to $4.5 million, compared to $3.1 million in the fourth fiscal quarter of 2015;
Net income was $1.1 million which includes approximately $1.1 million of pretax executive transition costs;
Ended the quarter with $13.7 million in cash and reduced long-term debt by $3.1 million to $18.5 million;
Executed on strategic growth plan including launch of a new product and announced plan for expansion into the European Union.
“Our first quarter results were in-line with our expectations and reflect stability in our revenue
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LifeVantage Launches TrueScience Micro Lift Serum
by Ted Nuyten • • 0 Comments
LifeVantage Corporation (Nasdaq: LFVN), has launched TrueScience Micro Lift Serum for immediate distribution in the United States.
The TrueScience Micro Lift Serum is a natural way to instantly diminish the look of crow’s feet, baggy skin, and dark circles around the eyes.
In as little as 3 minutes, it visibly tightens, smooths, and firms the skin around the eyes, quickly restoring a youthful looking radiance without sacrificing long-term skin health.
The TrueScience Micro Lift Serum pairs with the revolutionary TrueScience™ Skin Care system and is only available from LifeVantage.
“Customers today expect instant results from the products they use,” said LifeVantage President and Chief Executive Officer Darren Jansen.
“Our TrueScience Micro Lift Serum is in alignment with our strategy of offering demonstrable and effective products. It’s the ideal companion to our TrueScience skin
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LifeVantage Announces 2015 Revenues Of $190.3 Million
by Ramya Chandrasekaran • • 0 Comments
LifeVantage Corporation today reported financial results for its fourth quarter and full year ended June 30, 2015.
Fourth Quarter Fiscal 2015 Highlights:
Revenue was flat at $45.3 million when compared sequentially to $45.2 million for the third fiscal quarter of 2015;
Revenue in the Americas increased 2.5% and revenue in Asia/Pacific decreased 5.5% on a sequential basis;
Adjusted EBITDA decreased to $3.1 million, compared to $3.3 million in the third fiscal quarter of 2015;
Completed implementation of annual cost structure improvements of approximately $4 million.
Full Year Fiscal 2015 Highlights:
Revenue was $190.3 million compared to $214.0 million for the prior fiscal year;
Revenue in the Americas decreased 2.2% and revenue in Asia/Pacific decreased 28.2% compared to the prior fiscal year;
Adjusted EBITDA was $17.4 million compared to $24.5 million for the prior year;
Reduced long-term debt to $20.7 million at
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LifeVantage Appoints New Chief Financial Officer
by Ramya Chandrasekaran • • 0 Comments
LifeVantage Corporation announced today that Mark Jaggi has been appointed Chief Financial Officer for the company effective August 24, 2015.
Mr. Jaggi is a highly experienced finance and operations executive, having spent the past 20 years in lead financial, operational, and strategic planning roles. Most recently, Mr. Jaggi served as Chief Financial Officer at TwinLab Consolidated Holdings, where he led and supported their debt and equity financing, as well as the financial and operational decision-making in all areas of the business.
Prior to TwinLab Consolidated Holdings, Mr. Jaggi served as Chief Executive Officer and Chief Financial Officer at Summit Industries, a manufacturer and marketer of pharmaceutical and non-regulated liquid and cream solutions. Prior to Summit Industries, Mr. Jaggi was Chief Financial Officer at O’Sullivan Industries, where he led the international financial processes including analysis, accounting
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Lifevantage Prelim Annual Revenues $190 Million
by Ramya Chandrasekaran • • 0 Comments
Lifevantage announced preliminary results for the fourth quarter and full year ended June 30, 2015.
For the fourth fiscal quarter ended June 30, 2015, the Company expects to report revenue of approximately $45 million, compared to $56 million for the same period of fiscal 2014. The change in revenue was primarily due to a decline in revenue from Japan. Operating income for the fourth quarter of 2015 was $1.5 million, compared to $4.7 million in the fourth fiscal quarter of 2014.
For the full fiscal year ended June 30, 2015, the Company expects to report revenue of approximately $190 million, compared to $214 million in fiscal 2014. Operating income for full fiscal year 2015 was $13.9 million, compared to $19.5 million in the prior year period.
During the full year of fiscal 2015, the Company
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LifeVantage Names Darren Jensen as CEO
by Ramya Chandrasekaran • • 0 Comments
LifeVantage Corporation (Nasdaq:LFVN), announced today that Darren Jensen has been named President and Chief Executive Officer for the company.
Mr. Jensen’s appointment is effective May 18, 2015..
“LifeVantage is uniquely positioned as one of the leading product-driven business opportunities available,” said Jensen. “I am honored and delighted to work together with our independent distributors to execute our vision of bringing that opportunity to the world.”
Jensen brings 25 years of global network marketing and direct selling experience to LifeVantage from companies selling a variety of product types including nutritional supplements and personal care products.
“Darren Jensen is a well-known and a respected visionary leader in the global network marketing and direct selling industry,” said Garry Mauro, Chairman of the Board of Directors for LifeVantage Corporation. “The Board quickly recognized that Darren’s unparalleled track record of