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LifeVantage Announces Record Fiscal Year 2011 Results and Provides Fiscal Year 2012 Guidance
Date:9/28/2011

ome increased to $3.7 million in fiscal 2011, compared to an operating loss of $7.3 million in fiscal 2010. Operating income margin improved to 9.5% for the year compared to a loss for the prior fiscal year.

Balance Sheet & LiquidityThe Company ended fiscal 2011 with a much stronger balance sheet than when the year began. Its cash balance improved to $6.4 million due to strong revenue growth and operating profits generated by the business.  The Company generated $4.7 million of cash flow from operations for the full year fiscal 2011 compared to a cash use from operations of $4.5 million in fiscal 2010.   During fiscal 2011, an aggregate face value of $5.6 million in debt was converted into shares of the Company's common stock, eliminating all convertible debt.

Due to the improvements made to its balance sheet in fiscal 2011 as well as the Company's outlook for strong operating cash flow in fiscal 2012, the Company recently announced a share repurchase program that authorizes it to utilize up to $5 million to purchase common stock over the course of the twelve months beginning October 1, 2011.  Any such repurchases will be made only out of free cash flow from continuing operations and, on a quarterly basis, will not exceed 50% of free cash flow for such quarter.

Carrie McQueen, Chief Financial Officer commented, "We are very pleased with the improvements we made to our balance sheet in fiscal 2011, as we achieved our goal of eliminating all convertible debt by year end and building our cash balances.  As we enter fiscal 2012, we expect to achieve strong top line growth, doubled operating income and improved operating margins, even as we invest in our company for sustained long-term growth."

GuidanceThe Company anticipates strong growth in fiscal 2012.  For the full fiscal year ending June 30, 2012, the Company expects to achieve revenue in a range of $80 million to $90 million, operating income in
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SOURCE LifeVantage Corporation
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