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Companies: LifeVantage Corp. (LFVN)

Company Profile

Description

LifeVantage Corp. was formed in 1988, but entered the nutraceutical business in late 2004 and early 2005.  Through much of 2008, they marketed and sold their flagship product Protandim®, through a variety of tradition retail channels, with limited success. In late 2008, the Company transitioned to a network marketing level to market Protandim®, which is a “science-based formula that has been researched, tested and validated by renowned universities and institutions. It is the only supplement proven in a clinical study to reduce the cellular stress in humans by an average of 40 percent in 30 days”. 

The Company was able to build a considerable network marketing organization on the back of Protandim®, eventually expanding into several international markets including Japan.  To illustrate, revenues grew from $3.2 million in fiscal 2008 to over $126 million in fiscal 2012.

However, in December 2012, the Company issued a product recall for Protandim®, and that recall negatively impacted the Company for the next several quarters.  In retrospect, management’s performance in dealing with the recall, and perhaps even overall, was probably not optimal. As a result, new management was brought into the Company approximately one year ago, and those changes appear to fortuitous.

The Company announced its 3Q fiscal 2016 quarter on May 4, 2016, and those results reflected record revenues of $56.2 million, and profit of 7 cents per share.  Prior to non-recurring adjustments, earnings were 14 cents per share.  Lifevantage expects “full-year earnings in the range of 53 cents to 58 cents per share, with revenue in the range of $205 million to $210 million”.

LifeVantage has added some new products recently (there are now 5, some with multiple sku’s) and is preparing to launch a new product Protandim NRF1 Synergizer, which is a companion product to their flagship Protandim® (NRF2). In addition to new products, the Company is also adding new international markets.    

LifeVantage appears to be in the midst of a marked fundamental turnaround and associated expansion. 

 
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