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 its fourth quarter and full fiscal year ended June 30, 2014.
Fourth Quarter Fiscal 2014 Highlights:
Revenue was $56.0 million, an increase of 8.8% over the prior year period;
Revenue increased in the Americas by 12.3% compared to the prior year period;
Operating income was $4.8 million and net income was $2.4 million; and
Successfully launched the TrueScienceTM Skin Care Regimen.
Full Year Fiscal 2014 Highlights:
Revenue was $214.0 million, an increase of 2.8% over the prior year;
Revenue increased in the Americas by 6.1% over the prior year;
Operating income was $19.5 million and net income was $11.4 million;
Cash from operations grew 13.5%; ended the fiscal year with cash of $20.4 million;
Repurchased $46.2 million in shares and reduced long-term debt by $16.2 million; and
Began Real Salt Lake Major League Soccer marketing sponsorship.
Douglas C. Robinson, President and Chief Executive Officer of LifeVantage, stated, “We are pleased to report revenue growth for the fourth quarter and full fiscal year. Our sales results reflect reignited growth in North America, partially offset by lower sales in Japan caused by continued distractions. We were successful in leveraging our general and administrative infrastructure while making important investments in sales and marketing, product development and geographic expansion initiatives. Throughout fiscal year
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Americans Go To Capitol Hill To Share Direct Selling Stories With Congress
by Tina Williams • • 0 Comments
More than 400 independent direct selling consultants representing 28 companies, 30 states, Puerto Rico and the District of Columbia met with members of Congress today during Direct Selling Associations (DSAs) second annual Direct Selling Day on Capitol Hill. Participants shared personal stories about how direct selling has helped them achieve business and personal goals to create a better life.
Direct selling empowers entrepreneurs who are building the American economy community by community, said Joseph Mariano, president of DSA. Our industry has a positive story to tell, and Direct Selling Day on Capitol Hill is a great way to explain that our people are the industrys greatest asset.
Participants from all corners of the country related how direct selling which involves the direct sale of products and services person-to-person, through home parties or online through distributor websites has provided them with personal flexibility, the opportunity to own their own businesses and the chance to achieve a variety of personal and professional goals including supplementing their income, receiving recognition for successes and promoting a product or service they stand behind.
Mariano continued, Direct sellers live and work in every state and Congressional district in the country. Its critical that policymakers understand the value that direct
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Herbalife’s Expansion Into Canada
by Tina Williams • • 0 Comments
Herbalife Ltd. (HLF) announced yesterday that it will launch its performance nutrition line, Herbalife24™, in Canada. The comprehensive nutrition package is designed to cater to the daily nutrition needs of athletes. The company has also partnered with the non-profit organization, Common Threads, to target younger age groups in the US as well.
The company’s increased focus on product innovation and relationship building efforts with its target market shows it will continue to expand its operations in the future, disregarding any accusations of it being a pyramid scheme. Products targeted at athletes might turn out to be a significant growth driver for Herbalife in the future.
Herbalife24 is a comprehensive performance-nutrition package, which consists of five products that let consumers modify their nutrition plan to meet their training demands and their daily nutrition needs according to the sport they play. All products in the package have been certified by the Public Health and Safety Organization, NSF International Inc.
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Youngevity International Invests $1.1 M To Improve Global Headquarters
by Nicole Dunkley • • 0 Comments
Youngevity International, Inc., a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced today that it has made an investment of $1.1 million to improve its company-owned 59,000 square foot corporate headquarters located in Chula Vista, California.
The improvements to the Youngevity headquarters include a complete reconfiguration of the distribution center layout, which doubles the amount of pallet storage locations and shipping lanes to maximize efficiency and productivity. The increased storage capacity in the distribution center was attributed to the purchase of two technologically advanced Raymond forklifts that optimize warehouse throughput. Also, the warehouse was updated with new energy-efficient lighting and insulation, additional circulation fans were installed to increase employee comfort, and the shipping and purchasing department offices were expanded.
Youngevity has improved the appearance of its headquarters with a new water-efficient landscape to receive outdoor water conservation rebates from the City of San Diego. The entrance lobby also was remodeled to be more inviting and enhanced with a new coffee/beverage bar.
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Herbalife To Provide Nutrition Curriculum In Schools Across US
by Tina Williams • • 0 Comments
Herbalife HLF, a leading global nutrition company, announced a long-term partnership with national non-profit organization, Common Threads, to sponsor nutrition programs in elementary and middle schools across the country. The program gives students in over 135 schools in Illinois, Washington, D.C., California and Florida access to nutrition and cooking skills curricula.
“Herbalife is excited to sponsor nutritional programs to help students in these cities improve their understanding of the importance of eating healthy,” said Angela Arboleda, Herbalife vice president of government and community affairs. “It is critical to equip our nation’s young people with the building blocks for healthy living, especially those who do not have access to the resources and information at home. Programs like Common Threads are important for helping children establish healthy eating habits. We look forward to building upon our company’s deep commitment to helping people live healthy, active lifestyles through this long-term partnership.”
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Zeek Rewards Receiver May Spread To Canada
by Tina Williams • • 0 Comments
The receiver of defunct ZeekRewards.com is going international in his quest to retrieve “net winnings” from participants in the Ponzi scheme, according to the Winston-Salem Journal.
Kenneth Bell said in a legal filing Thursday he is requesting permission to pursue at least 23 Canadian residents who received a combined $2.91 million. The range of net winnings was $50,863 to $376,808 among the listed participants.
Bell defines net winners are those who had a net gain of at least $1,000 from the scheme.
In August 2012, the U.S. Securities and Exchange Commission accused Rex Venture Group LLC, Zeekler andZeekRewards.com, all of Lexington, and Paul Burks, their principal owner, of raising $850 million through unregistered securities. The companies were shut down and their assets frozen.
The companies raised the money from at least 2.2 million customers, including more than 230,000 in the United States and 47,000 in North Carolina. Bell said net winners received more than $283 million combined.
The filing comes about five weeks after Bell made good on his promise to identify U.S. net winners. He listed about 9,400 individuals in a 217-page legal filing available at www.zeekrewardsreceivership.com. The list contained 15 individuals from Forsyth County, 105 from the Triad and Northwest North Carolina, and 390 statewide.
He said
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Talk Fusion Associates Minh & Julie Ho Hit $8 Million
by Nicole Dunkley • • 0 Comments
Only five months after the announcement that they had earned $7 million dollars in their four years at Talk Fusion, Presidential Blue Diamonds Minh and Julie Ho have broken another record: topping $8 million in total earnings.
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Capping the busy year with their new milestone of $8 million in earnings just highlights how far Minh and Julie have come. As explained in their amazing full story, the power couple rebounded from financial tragedy to financial freedom by sharing Talk Fusion.
Near bankruptcy and eviction from their one bedroom apartment, Minh and Julie faced a terrible uncertainty; not only for their own future, but for that of their seven children and four grandchildren as well.
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Up And Coming Home Party Companies To Keep An Eye On
by Tina Williams • • 0 Comments
Home party companies continue to dominate the direct-selling industry and recently a few newer, rather unheard of companies, have truly been dominating the home party market. Although, Avon, Pampered Chef, Origami Owl, Mary Kay, and Thirty-One remain in the top five over-all, there are a few companies you may want to keep an eye on. According to homepartyrankings.com their 6 month trend has been on a steady upward climb and account for a large chunk of the business.
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2. Jamberry Nails, a one-of-a-kind nail applique company, has had continued growth for quite some time. Growing rapidly and steadily but has remained under the radar. They’re in #2 over the last 6 months with 74% growth.
3. Younique, a cosmetic company that’s leading with the fiber last product, has had tremendous growth, not only in home parties – but in income earners and team growth. Their 6 month history puts them in at third with 68%
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Avon CFO Resigns
by Tina Williams • • 0 Comments
The Wall Street Journal reported early yesterday morning that Avon CFO, Kimberly Ross, has resigned.
Avon Products Inc. announced Monday that Chief Financial Officer Kimberly Ross is resigning from the embattled beauty-products company, effective early next month, to become CFO at oil-field services company Baker Hughes Inc.
Martin Craighead, Baker Hughes chairman and chief executive, stated that Ms. Ross’s “extensive record of accomplishments spans several industries and is a testament to her effective partnering with operational leaders in various geographies and business environments.”
She begins her new role at Baker Hughes effective Oct. 22.
Avon appointed Avon’s corporate controller, Robert Loughran, to serve as acting CFO as the door-to-door seller of makeup and consumer products searches for a permanent successor. Mr. Loughran is a 10-year Avon veteran and was appointed vice president and controller in 2012.
Avon Chief Executive Sheri McCoy said Ms. Ross “has been a strong leader for Avon over the past three years. I appreciate her partnership as we’ve worked together on Avon’s turnaround journey. We wish her all the best in her new role.”
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ViSalus Will Launch New Products At USA Convention
by Tina Williams • • 0 Comments
Thousands of Vi Promoters and Customers from all over the world will come together at Vitality 2014 on September 12-13 at the George R. Brown Convention Center in Houston, Texas for an unforgettable celebration of Life, Health and Prosperity.
During this annual event, ViSalus will officially launch four new wholesome and nutritious Vi product options that will provide consumers with a fast and convenient way to recharge their bodies while pursuing their weight-loss and fitness goals.
Additionally, the ViSalus Founders, who recently reinforced their commitment to the company by going “all-in” through a management buyout, will share their excitement and vision for the future of ViSalus.
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