May 9, 2018 7:42 PM ET
EPS of $0.12
Revenue of $50.56M (+ 12.4% Y/Y)
LifeVantage Corporation (NASDAQ:LFVN) Q3 2018 Earnings Conference Call May 9, 2018 4:30 PM ET
Scott Van Winkle – ICR
Darren Jensen – Chief Executive Officer
Steve Fife – Chief Financial Officer
Frank Faiella – Sidoti
Steven Martin – Slater
Good day, ladies and gentlemen, thank you for standing by. Welcome to today's conference call to discuss LifeVantage's Third Quarter Fiscal 2018 Financial Results.
At this time, all participants are in a listen-only mode. Following the formal remarks, we will conduct a question-and-answer session and instructions will be provided at that time for you to queue up. Hosting today's conference will be Scott Van Winkle with ICR. As a reminder, today's conference is being recorded.
And now, I would like to turn the conference over to Mr. Van Winkle. Please go ahead, sir.
Scott Van Winkle
Thank you. Good afternoon, ladies and gentlemen. Welcome to LifeVantage Corporation's conference call to discuss results for the third quarter of fiscal 2018. On the call today from LifeVantage with prepared remarks are Darren Jensen, Chief Executive Officer; and Steve Fife, Chief Financial Officer.
By now everyone should have accessed to the earnings release that went up this afternoon at approximately 4.05 PM Eastern Time. If you did not have received release, the release it’s available on the Investor Relations portion of LifeVantage’s at www.lifevantage.com. This call is being webcast; a replay will be available on the Company’s website as well.
Before we begin, we'd like to remind everyone that our prepared remarks contain forward-looking statements and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance and therefore undue reliance should not be placed upon them. These statements are based on the Company’s, current expectations of the Company's management and involve inherent risks and uncertainties, including those identified in the Risk Factors section of LifeVantage's most recently filed Forms 10-Q and 10-K.
Please note that during today's call, we'll discuss non-GAAP financial measures, including results on an adjusted basis. Management believes these financial measures can facilitate a more complete analysis and greater transparency into LifeVantage's ongoing results of operations, particularly when comparing underlying operating results from period-to-period. We've included a reconciliation of these non-GAAP measures with today's release.
This call also contains time-sensitive information that is accurate only as of the date of this live broadcast, May 9, 2018. LifeVantage assumes no obligation to update any forward-looking projections that may be made in today's release or call.
Now I would like to turn the call over to the Company's CEO, Darren Jensen.
Thank you, Scott, and good afternoon everyone. I’m pleased to join you today and share our third quarter results and update you on the progress of our fiscal 2018 initiatives. During the third quarter, we generated $50.6 million of revenue, representing both 12.3% growth over last year and a 2.2% increase from the second quarter.
The growth was broad-based with all geographies posting sequential growth with the exception of Japan, which was following its typical seasonal pattern. Additionally, revenue built month-over-month throughout the quarter, and we had a good start to the fourth quarter with April relatively consistent with March. We generated adjusted earnings per share of $0.12, up significantly from $0.03 a year ago and up 9% from the second quarter.
As Steve will discuss, we're now anticipating 2018 EPS to be at the high end of our prior guidance. We're encouraged by the improved momentum and have begun to see our recent initiatives contribute favorably to our results during the third quarter. March represented our largest recruitment month since May of 2016, and first-year retention continues to improve.