SALT LAKE CITY, Sept. 10, 2012 -- LifeVantage Corporation, a company dedicated to helping people achieve healthy living through a combination of a compelling business opportunity and scientifically validated products, including its patented dietary supplement Protandim®, the Nrf2 Synergizer®, today reported financial results for the fourth quarter and full year ended June 30, 2012.
Fiscal 2012 Fourth Quarter Highlights Compared to Same Period Last Year Include:
- Net revenue increased 197% to $44.6 million; - Operating margin increased to 16.5% compared to 13.0%; - Operating income grew 275% to $7.3 million.
Fiscal 2012 Full Year Highlights Compared to Fiscal 2011 Full Year Include:
- Net revenue increased 224% to $126.2 million; - Operating margin increased to 17.0% compared to 9.5%; - Operating income grew 480% to $21.5 million; - Cash and cash equivalents grew to $24.6 million as of June 30, 2012 from $6.4 million as of the prior year-end.
Douglas C. Robinson, President and Chief Executive Officer of LifeVantage, stated, "We are pleased to report a strong fourth quarter and a record full year for fiscal 2012. Growing demand for and interest in our products combined with a stronger distributor base and infrastructure enabled us to increase our annual revenue by 224%, increase operating income by 480% and exceed the top end of our previously issued guidance range."
Mr. Robinson continued, "In fiscal 2012, we made strategic investments into our infrastructure and personnel in corporate administration, finance, marketing, operations, sales and R&D in order to put the necessary platform in place for us to continue our strong growth. As we begin fiscal 2013, we are excited about the opportunities ahead of us. In addition to continuing our strong organic growth in the core United States market, we plan to expand our international presence and enter new markets as well.
"Our financial and operating improvements in fiscal 2012 have also enabled us to achieve a listing on The NASDAQ Capital Market for our common stock. This event marks a major milestone in LifeVantage's history and will be an important step in achieving long-term shareholder value for our company."
Mr. Robinson concluded, "As we enter fiscal 2013, we believe we are well-positioned to deliver another record year of revenue and operating income growth. We look forward to updating you on our progress throughout this year."
NASDAQ Capital Market Listing
The Company announced today that its common stock has been approved for listing on The NASDAQ Capital Market. Shares of LifeVantage's common stock are expected to commence trading on the NASDAQ Capital Market under its current ticker symbol "LFVN," effective at market opening on September 12, 2012.
Fiscal Year 2013 Guidance
The Company anticipates continued strong growth in fiscal 2013. LifeVantage expects to generate revenue for fiscal 2013 in the range of $250 million to $260 million. The Company expects to generate operating income in the range of $34.5 million to $38.2 million, and an operating margin of 13.8% to 14.7%. The Company expects to generate earnings per diluted share in the range of $0.18 to $0.20, based on estimated weighted average diluted shares outstanding of 129 million.
Conference Call Information
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 (888) 587-0613 from the U.S. International callers can dial (719) 457-2710. A telephone replay will be available approximately two hours after the call concludes and will be available through Wednesday, September 12, 2012, by dialing (877) 870-5176 from the U.S., or (858) 384-5517 from international locations, and entering confirmation code 8430189.
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 approximately one year.
