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LifeVantage’s (LFVN) CEO Darren Jensen on Q4 2016 and Q1 2017 Results – Earnings Call Transcript

LifeVantage Corporation (NASDAQ:LFVN )

Q4 2016 and Q1 2017 Earnings Conference Call

December 12, 2016, 05:00 PM ET


Scott Van Winkle – MD, ICR

Darren Jensen – CEO

Garry Mauro – Chairman

Mark Jaggi – CFO


Will Hamilton – Manatuck Hill

Steven Martin – Slater


Good day, ladies and gentlemen. Thank you for standing by. Welcome to today’s LifeVantage Fourth Quarter Fiscal 2016 and First Quarter Fiscal 2017 Earnings Conference. 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.

Hosting today’s conference will be Scott Van Winkle with ICR. As a remainder, today’s conference is being recorded.

At this time, I would like to turn the conference over to Mr. Van Winkle. Please go ahead, sir.

Scott Van Winkle

Thank you, and good afternoon, ladies and gentlemen. Welcome to LifeVantage Corporation’s conference call to discuss the recently filed fiscal 2016 results and first quarter 2017 results. On the call today from LifeVantage will be prepared remarks from Garry Mauro, Chairman of the Board of Directors; Darren Jensen, Chief Executive Officer; and Mark Jaggi, Chief Financial Officer.

By now, everyone should have access to the earnings release which went out this afternoon at approximately 4:05 p.m. Eastern Time. If you have not received the release, it’s available on the Investor Relations portion of LifeVantage’s website at This call is being webcast and 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 current expectations of the management and involve inherent risks and uncertainties, including those identified in the Risk Factors sections of LifeVantage’s most recently filed Form 10-Q and 10-K.

These risk factors contain a more detailed discussion of the factors that could cause actual results to differ materially from those projected in any forward-looking statements. 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 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, December 12, 2016. LifeVantage assumes no obligation to update any forward-looking projections that may be made in today’s release or call. Based on the number of participants on today’s call, during the Q&A session, we ask that you please limit the number of your questions to three.

Now, I will turn the call over to the Company’s CEO, Darren Jensen.

Darren Jensen

Thanks Scott and good afternoon, everyone. Let me begin by acknowledging that this has been a long process, longer than we had anticipated to report on our fiscal 2016 results and filed our 10-K and first quarter 10-Q, both of which were filed this afternoon. With today’s SEC filings, we are again current with our financial reporting and in compliance with our Zions Bank credit line. We expect that these filings will also bring us back into compliance with NASDAQ listing rules. While we experienced a delay in our financial reporting and understand our shareholders’ concern over the length of time this process took, I can assure you that we’ve remained focused on our day-to-day operations, supporting both our distributors and customers. I’m pleased to report that the audit committee review is now complete and we can begin to refocus our investors’ attention on our business performance and growth objectives.

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Egg Industry Response to Choline & TMAO

USANA Selects Three New Vice Presidents

SALT LAKE CITY, Dec. 15, 2016 /PRNewswire/ — Today, USANA announced the promotion of three executive directors to vice president of their respective areas. Ashley Collins, former executive director of PR & social media, has been named vice president of marketing & PR; Amy Haran, former executive director of communications, has been named vice president of communications; and Howard Gurney, former executive director of quality systems and regulatory affairs, has been named vice president of product development process.

“I have had the pleasure of working with these proven leaders for many years now and know firsthand their dedication and commitment to our employees, stakeholders, distributors and customers,” said Kevin Guest, CEO of USANA. “These talented and ambitious individuals have been essential in hitting key benchmarks within the company and will continue taking us to the next level of excellence.”

Ashley Collins began her career at USANA in 2000 and quickly became recognized as a trusted leader within the organization. Collins has successfully managed major campaigns, developed and cultivated relationships with athletes, celebrities, and other influencers and has played a critical role in the success of The Dr. Oz Show sponsorship. In her new role, she will continue leading PR and social media, but will also steer USANA’s marketing and digital marketing teams.

Newly named vice president of communications, Amy Haran, has worked in content marketing and communications at USANA for 13 years. She has been integral in expanding global internal communication efforts and developing long-term communication strategies to support the company’s global initiatives. In addition to overseeing digital communications for USANA’s 1,300 employees and 400,000 distributors worldwide, Haran will also guide the customer service, translation and content creation teams.

Former executive director of quality systems and regulatory affairs, Howard Gurney, has had a successful career leading and managing the regulatory team to ensure government and public relations are in good standing. As vice president, Gurney will supervise the streamlining of the product development process across many departments at USANA in addition to overseeing quality assurance, quality control, regulatory affairs and regulatory systems.

USANA congratulates these outstanding individuals on their new positions. For more information about USANA, go to

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