LifeVantage Announces Preliminary Unaudited First Quarter Revenue

by louabbott on October 21, 2009

LifeVantage of San Diego released this through PRNewswire-FirstCall

LifeVantage Corporation, the maker of Protandim® and TrueScience(TM) Anti-Aging Cream, science-based solutions to oxidative stress, announced preliminary unaudited net revenue for the first fiscal quarter of 2010. The Company anticipates net revenue of approximately $1.9 million for the three month period ended September 30, 2009, compared to net revenue of $1.6 million for the three month period ended June 30, 2009. This continued growth in revenue demonstrates the success of the Company’s on-going expansion into the network marketing distribution model.

Total operating expenses in the first fiscal quarter of 2010 decreased by approximately 25% from total operating expenses of $6.1 million in the fourth fiscal quarter of 2009. This decline is primarily attributable to reductions of approximately 80% in total legal expenses. In the first fiscal quarter of 2010, legal expenses decreased by approximately $1 million and other operating expenses decreased by approximately $0.5 million. These decreases are directly attributable to the Company’s efforts in expense reductions and greatly reduced activity in litigation in which the Company has been a party.

“We are pleased to announce that the Company anticipates its second consecutive quarter of double digit percentage increases in net revenue,” stated Carrie E. Carlander, Chief Financial Officer of LifeVantage, “especially since both quarters of revenue increases occurred during a traditionally slower time of year for MLM companies. Moving forward, as we continue to grow and expand our network marketing business model and make progress on the scientific front, we will continue to look for ways to decrease expenditures as appropriate as we move towards profitability.”

Read the full press release at: SYS-CON.com

Also, see our overview of LifeVantage

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