Navigation Links
LifeVantage Announces Unaudited First Quarter Fiscal 2010 Financial and Operating Results
Date:11/12/2009

SAN DIEGO, Nov. 12 /PRNewswire-FirstCall/ -- LifeVantage Corporation (OTC Bulletin Board : LFVN), the maker of Protandim® and TrueScience(TM) Anti-Aging Cream, science-based solutions to oxidative stress, announced today unaudited first quarter fiscal 2010 financial and operating results.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090930/LIFEVANTAGELOGO)

The Company recorded net revenue of approximately $1.9 million for the three month period ended September 30, 2009. For the three month period ended September 30, 2008, the Company recorded net revenue of approximately $1.3 million which included recognition of previously deferred retail revenue of approximately $0.5 million. The growth in revenue is due to an increase in sales attributable to the Company's on-going expansion into the network marketing distribution model.

Total operating expenses for the three months ended September 30, 2009 decreased by approximately 25% from total operating expenses of approximately $6.1 million for the three months ended June 30, 2009. This decline is primarily attributable to reductions of approximately 80% in total legal expenses. For the three months ended September 30, 2009, legal expenses decreased approximately $1.0 million and other operating expenses decreased by approximately $0.5 million compared to the previous quarter. These decreases are directly attributable to the Company's efforts to reduce expenses and the reduced activity in litigation in which the Company has been a party.

The Company recorded net income for the three months ended September 30, 2009 of approximately $1.1 million, or $0.02 per share. The Company reported a change in its derivative warrant liability of approximately $4.3 million during the three months ended September 30, 2009. As adjusted to exclude the change in fair value of the derivative warrant liability, the Company would have incurred a net loss of approximately $3.1 million. Adjusted net income is a non-GAAP measure, which management believes facilitates a better understanding of the results of the Company's results of operation. Adjusted net income is reconciled to net income in the table presented later in this press release. During the three months ended September 30, 2008, the Company reported a net loss of approximately $0.1 million, or 0.01 per share.

Conference Call Information

The Company will hold a conference call on Wednesday, November 18th, 2009 at 1:30pm Pacific time (4:30pm Eastern time) to discuss first fiscal quarter 2010 financial and operating results and provide an update on its business. David W. Brown, President & Chief Executive Officer, is scheduled to lead the call and will be joined by Carrie E. Carlander, Chief Financial Officer.

The conference call may be accessed by dialing (888) 525-6276 for domestic callers and entering the pass code 2970246. The webcast will be available live via the Internet by accessing the Investors section of LifeVantage's website at http://www.lifevantage.com/investor-profile.aspx. Replays of the webcast will be available on LifeVantage's website for 30 days and a phone replay will be available through November 23rd, 2009 by dialing (888) 203-1112 and entering the pass code 2970246.

About LifeVantage Corporation

LifeVantage Corporation is a publicly traded (OTCBB: LFVN), science-based, nutraceutical company dedicated to helping people reach their health and wellness goals. Founded in 2003 and based in San Diego, CA, LifeVantage develops products, including Protandim®, that are intended to deliver significant health benefits to consumers. For more information, visit www.LifeVantage.com.

Forward Looking Statements

This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates" and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, the potential failure or unintended negative consequences of the implementation of the Company's network marketing sales channel; the Company's ability to retain independent distributors or to attract new independent distributors on an ongoing basis; the potential for third party and governmental actions involving the Company's network marketing sales channel; the potential for product liability claims against the Company; the risk that government regulators and regulations could adversely affect the Company's business; future laws or regulations may hinder or prohibit the production or sale of the Company's existing product and any future products; unfavorable publicity could materially hurt the Company's business; and the Company's ability to protect its intellectual property rights and the value of its product. These and other risk factors are discussed in greater detail in the Company's Annual Report on Form 10-K and its Quarterly Report on Form 10-Q under the caption "Risk Factors", and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.

                    Reconciliation of Adjusted Unaudited Net
                   Income for the Quarter Ended September 30, 2009

    Net Income/(Loss) Excluding Change in Fair Value
      of Derivative Warrant Liability                            $(3,144,439)
    Change in Fair Value of Derivative Warrant
     Liability                                                     4,294,748
                                                                   ---------
    Net Income                                                    $1,150,309
                                                                  ==========



    Investor Relations Contact:
    Ioana C. Hone
    (858) 312-8000 Ext. 4

SOURCE LifeVantage Corporation


'/>"/>
SOURCE LifeVantage Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. LifeVantage Announces Fourth Quarter and Fiscal Year 2009 Financial and Operating Results
2. LifeVantage Announces Preliminary Unaudited First Quarter Revenue
3. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
4. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
5. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
6. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
7. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
8. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
9. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
10. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
11. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/5/2017)... MANCHESTER, England , July 5, 2017 ... the perfect answer as physics and manufacturing combine to progress ... the thyroid, existing SPECT systems are unable to accurately quantify ... consequence, only limited information regarding the success of this radiotherapy ... ...
(Date:6/30/2017)... Md. , June 30, 2017 In ... since the start of May, at least ten diagnostic ... include private investments, public offerings and a loan facility.  ... million to almost $80 million.  Kalorama Information provides a ... of its Diagnostics Knowledge Center. ...
(Date:6/20/2017)... ROTTERDAM, Netherlands and LAGUNA HILLS, ... announced the presentation of new data that validate the ... to risk stratify patients with multiple myeloma (MM). In ... of the European Hematology Association (EHA) in ... prognostic value of MMprofiler for identifying high-risk elderly patients. ...
Breaking Medicine Technology:
(Date:7/18/2017)... Oaks, CA (PRWEB) , ... July 18, 2017 , ... ... Ph.D. scientist extracted cannabis oils, announced today that at the WORLDZ Summit, taking place ... will be speaking on the therapeutic benefits of medical cannabis for both pediatric and ...
(Date:7/18/2017)... ... July 18, 2017 , ... Doctors ... partners with the best medical professionals who offer the most effective and efficient ... professional in their network, ensuring that each patient receives prompt and courteous service, ...
(Date:7/18/2017)... Fort Worth, Texas (PRWEB) , ... July 19, ... ... a 2017 Gold Winner for it’s Corporate Social Responsibility Initiative in the prestigious ... world’s best in leadership, innovation, organizational performance, new products and services, CEO case ...
(Date:7/17/2017)... ... July 17, 2017 , ... McGraw Family Pledges $3 ... and Train Next Generation of Healthcare Clinicians , NORWALK, Connecticut – July 17, ... its legacy of investing in community health by pledging up to $3 million in ...
(Date:7/17/2017)... ... 17, 2017 , ... Western University of Health Sciences has ... Education for the sixth consecutive year, and also made the Honor Roll for ... Lebanon, Oregon, was recognized in seven categories: Collaborative Governance, Compensation & Benefits, Job ...
Breaking Medicine News(10 mins):