SALT LAKE CITY, Sept. 28, 2011 /PRNewswire/ -- LifeVantage Corporation (OTCBB: LFVN), makers of Protandim®, the Nrf2 Synergizer™ patented dietary supplement, today reported financial results for the fourth quarter and full fiscal year ended June 30, 2011 and issued fiscal year 2012 revenue and operating income guidance.
Fiscal 2011 Fourth Quarter ResultsFor the fourth fiscal quarter ended June 30, 2011, the Company reported record net revenue of $15.0 million compared to $4.4 million for the same period in fiscal 2010, an increase of 241% from the prior year period. On a sequential basis, net revenue increased 50% from the $10.0 million reported for the third fiscal quarter ended March 31, 2011.
Gross profit for the fourth quarter of fiscal 2011 increased to $12.9 million compared to $3.7 million for the same period last year, delivering an improved gross margin of approximately 86%, compared to 83% for the same period last year.Operating expenses for the fourth fiscal quarter of 2011 were $11.0 million compared to $4.0 million for the same period last year, and on a sequential basis increased 45% from $7.6 million in the third fiscal quarter of 2011. The increase on a sequential basis is due primarily to increased sales commissions which are a direct result of the Company's increased revenue. The increase also reflects greater investment in personnel and infrastructure to position the Company for future growth.
Operating income improved to $2.0 million for the fourth fiscal quarter of 2011 compared to a loss of $290 thousand in the same period last year. The fourth quarter of fiscal 2011 is the Company's fourth consecutive quarter of achieving operating income. O
|SOURCE LifeVantage Corporation|
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