Wellness firm LifeVantage Corp. (LFVN—NASDAQ) has announced results for the second quarter of fiscal 2017.
In the quarter ended Dec. 31, 2016, revenue fell 6 percent to $48.9 million, in line with company guidance following an independent audit of parts of LifeVantage’s international operations. Revenue for the first half of fiscal 2017 was $103.8 million, up 7 percent from a year earlier.
“Our recent implementation of new international policies and procedures disrupted second-quarter sales as anticipated,” said LifeVantage President and CEO Darren Jensen. “As the implementation nears completion, we are focused on rebuilding our sales momentum while continuing to focus on additional international opportunities.”
Breaking the results down by region, revenue dipped 6 percent in the Americas and 5 percent in Asia-Pacific and Europe, in comparison to the same period of 2016. The company recently hired on a Hong Kong-based executive who will help to drive development of new Asian markets, including Taiwan and Mainland China.
Quarterly earnings were 2 cents per share, compared to 11 cents in the prior year. Adjusted earnings were 11 cents per share, down from 14 cents.
Management reiterated its previous guidance for fiscal 2017. The company sees full-year revenue of $207 million to $212 million, with earnings of 40 cents to 47 cents.
