LifeVantage Corporation Announces 3Q FY 2009 Financial and Operating Results

by louabbott on May 15, 2009

Earthtimes – Published May 15, 2009

LifeVantage Corporation, maker of Protandim®, today announced results for its third quarter ended March 31, 2009. For the three month period ended March 31, 2009, the Company recorded net revenues of $0.7 million and a loss of $(3.1) million, or $(0.12) per share. For the three month period ended March 31, 2008, the Company recorded net revenues of $0.8 million and a loss of $(0.6) million, or $(0.03) per share.

For the nine month period ended March 31, 2009, the Company recorded net revenues of $2.5 million and a loss of $(3.8) million, or $(0.15) per share, of which approximately $1.5 million, or $0.06 per share consisted of non-cash expenses. Additionally, approximately $0.5 million, or $0.02 per share consisted of one-time expenses. This compares to net revenues of $2.4 million and a loss of $(1.3) million, or $(0.06) per share for the nine month period ended March 31, 2008.

LifeVantage President and CEO, David W. Brown, commented, “During the third quarter the Company has been preparing for our entry into network marketing. We successfully raised capital through a private offering in order to meet the increased expenditures we knew would be necessary to strengthen our infrastructure, increase inventories, develop new marketing tools and to recruit new distributors. The third quarter results reflect the costs of preparing the Company for significant anticipated growth, and we believe that the greatly increased interest in our Company reflects the fact that there is much excitement about the steps we have taken and the progress we’ve made.”

Read the entire article at Earthtimes

Also, read our company overview:  LiveVantage Facts, News and Review

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