Annual Revenue Up 11.%; Company Exceeds High End of Fiscal 2019 Adjusted EPS Guidance
LifeVantage Corporation (Nasdaq: LFVN) today reported financial results for its fourth quarter and full fiscal year ended June 30, 2019.
Fourth Quarter Fiscal 2019 Highlights:
- Revenue increased 4.0% to $56.2 million year over year;
- Revenue in the Americas decreased 2.9% year over year, while revenue in Asia/Pacific & Europe increased 24.4% year over year;
- Active members increased 3.4% to 185,000, including 4.8% growth of independent distributors and a 2.6% increase in active customers, each on a year over year basis;
- Adjusted EBITDA increased 48.6% to $7.7 million year over year;
- Earnings per diluted share were $0.26, compared to $0.21 in the prior year period; and
- Adjusted earnings per diluted share were $0.26, compared to $0.20 in the prior year period.
* All year over year growth rates compare the fourth quarter of fiscal 2019 to the fourth quarter of fiscal 2018.
Fiscal Year 2019 Highlights:
- Revenue increased 11.2% to $226.0 million;
- Revenue in the Americas increased 7.7% and revenue in Asia/Pacific & Europe increased 21.6%;
- Adjusted EBITDA increased 22.4% to $18.2 million;
- Earnings per diluted share were $0.50, compared to $0.41 in fiscal 2018;
- Adjusted earnings per diluted share were $0.59, compared to $0.51 in fiscal 2018; and
- Repurchased 389,000, or $4.7 million, of common shares, and paid down $4.0 million of long-term debt, reflecting strong cash flow from operations of $17.8 million.
*All growth rates compare fiscal 2019 to fiscal 2018.
“We are proud to report a strong finish to fiscal 2019, generating the highest annual revenue in the Company’s history while exceeding our fiscal 2019 adjusted EPS guidance,”
stated LifeVantage President and Chief Executive Officer, Darren Jensen.
“We continue to see positive trends in our active member counts, reflecting successful execution of each of our 2019 strategic initiatives. We have also expanded our geographic footprint and enhanced our innovative product offering.
Looking to fiscal 2020, we remain focused on the key drivers of our continued growth, while embracing new initiatives with the intent to expand these drivers and capitalize on the ever growing global consumer interest in improving health and enhancing lifestyles.
Our key initiatives for 2020 include growing our biohacking subscriptions, attracting and creating influencers to expand reach, simplifying the business building opportunity at LifeVantage and building a solid foundation for future growth. I am confident that the future remains bright for LifeVantage and I look forward to executing on our plans for fiscal 2020 and beyond.”
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