Fiscal 2012 Second Quarter Highlights Include:
-- Net revenue increased 239% to $25.3 million compared to same quarter last year; -- Operating margin doubled to 16.9% compared to 8.2% in the same quarter last year; -- Operating income grew 603% compared to the same quarter last year to $4.3 million; -- Cash and cash equivalents were $13.5 million; -- Four new directors were elected to the Board, adding significant leadership experience; -- Received approval from warrant holders for and completed a tender offer to modify certain outstanding warrants such that the Company will no longer account for these warrants as a derivative liability, which the Company believes will enable its financials to more closely reflect operating performance. Fiscal 2012 First Six Months Results
For the six months ended December 31, 2011, the Company reported record net revenue of $45.4 million, compared to $13.9 million for the same period in fiscal 2011, a 226% increase. Operating income increased to $7.7 million, compared to $1.0 million in the same period last year.
Douglas C. Robinson, President and Chief Executive Officer of LifeVantage, stated, "Our record second fiscal quarter revenue and operating income, combined with the doubling of our operating margins, underscore our ability to achieve leverage in our business while making strategic investments. We plan to continue to strengthen our infrastructure by adding headcount for all areas of our business and increasing our marketing investments as we build the necessary platform to continue our profitable organic growth."
"As awareness and understanding about Protandim and LifeVantage TrueScience(R) Anti-Aging Cream continues to expand in consumer markets as well as among medical professionals, we believe that our business is positioned for continued long-term growth. We are seeing a growing number of distributors join our team, as evidenced by record attendance at our recent quarterly distributor convention. We look forward to building upon this positive momentum and delivering another record year for LifeVantage in fiscal 2012."
Mr. Robinson concluded, "Reflecting our commitment to continue enhancing our corporate leadership, our shareholders recently elected four new members of the Board of Directors. These directors add diverse and deep leadership experience to the Board and are a strong addition to our Company. We are very excited about our continued outlook for fiscal 2012 and look forward to continuing to achieve long-term growth and profitability while helping people around the world improve their health and wellness through the science of Protandim."
The Company will hold an investor conference call today at 2:30 p.m. Mountain time (4:30 p.m. Eastern time). Investors interested in participating in the live call can dial (877) 604-9665 from the U.S. International callers can dial (719) 325-4886. A telephone replay will be available approximately two hours after the call concludes and will be available through Thursday, February 16, 2012, by dialing (877) 870-5176 from the U.S., or (858) 384-5517 from international locations, and entering confirmation code 2407254.
There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at http://investor.lifevantage.com/events.cfm The webcast will be archived for 30 days.
