LifeVantage Corp. (LFVN.OB) Announces Preliminary Unaudited 2Q Results

By @ibtimes on

Yesterday, LifeVantage Corp. announced their preliminary unaudited net revenue for the second fiscal quarter of 2011. LifeVantage anticipates an increase of $1 million during the three month period that ended on December 31, 2010 (a 15% increase over net revenue of the previous period).

LifeVantage is a San Diego science-based nutraceutical company that produces health and wellness products. The company’s current product line includes the anti-aging, antioxidant dietary supplement Protandim, and TrueScience Anti-Aging Cream skin care product.

LifeVantage’s anticipated net revenue is a 169% increase over the net revenue reported for the same quarter in 2009. LifeVantage anticipates $500,000 operating income for the quarter, which would reflect a 7% profit margin. This compares favorably to an operating loss of $2.7 million during the same quarter last year.

“We are pleased to announce that we are exceeding our second quarter guidance and we anticipate reporting our highest quarterly net revenue and operating profit to date,” stated David W. Brown, President & Chief Executive Officer of LifeVantage. Carrie McQueen, Chief Financial Officer commented, “After giving second quarter guidance for a 10% improvement in net revenue, we are very pleased to be exceeding our estimates. Additionally, we have achieved growth while maintaining conservative spending in operations. We are proud to report our 8th consecutive quarter of net revenue growth, our 6th consecutive quarter of improvement in operating income or loss, and our 2nd consecutive quarter of operating income. We remain focused on achieving sequential growth in future quarters.”

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