Sandy, Utah-based LifeVantage Corp. announced financial results for its first quarter ended September 30, 2017. Revenue decreased 3.0 percent sequentially to $49.1 million when compared to $50.6 million in the fourth quarter of fiscal 2017, and decreased 10.5 percent when compared to $54.9 million in the first quarter of fiscal 2017.
Revenue in the Americas for the first quarter decreased 6.6 percent compared to the fourth quarter of fiscal 2017 and 9.9 percent compared to the first quarter of fiscal 2017.
Revenue in the Asia-Pacific and Europe region increased 8.7 percent compared to the fourth quarter of fiscal 2017 and decreased 12.2 percent compared to the first quarter of fiscal 2017. However, revenue in Japan increased by 7.0 percent compared to the fourth quarter of fiscal 2017 and increased 2.3 percent compared to the first quarter of fiscal 2017.
Revenue for the first fiscal quarter ended September 30, 2017, was negatively impacted $0.7 million, or 1.4 percent, by foreign currency fluctuations associated with revenue generated in several international markets when compared to the first quarter of fiscal 2017.
Active independent distributors and active preferred customers decreased 1.6 percent and 2.7 percent, respectively, when compared to the fourth quarter of fiscal 2017.
Adjusted EBITDA decreased $0.6 million to $2.7 million when compared to $3.3 million in the fourth quarter of fiscal 2017 and decreased $1.6 million when compared to $4.3 million in the comparable period of fiscal 2017. Earnings per diluted share were 6 cents, compared to 1 cents in the fourth quarter of fiscal 2017 and 8 cents in the first quarter of fiscal 2017. Adjusted earnings per diluted share were 7 cents, compared to 4 cents in the fourth quarter of fiscal 2017 and 13 cents in the first quarter of fiscal 2017.
“We generated strong sequential earnings per share growth during the first quarter when compared to the fourth quarter and believe we are on track to achieve our guidance for the full year,” stated LifeVantage President and Darren Jensen. “I remain excited about the work we are doing to transform our business and engaging with our global distributor force and customers regarding our key initiatives. We have already made good progress on several of our 2018 initiatives, each of which is focused on accelerating our global growth and further developing our biohacking culture.”
