Lifevantage (NASDAQ: LFVN) reported Q3 EPS of $0.20, versus $0.13 reported last year. Revenue for the quarter came in at $51.6 million versus the consensus estimate of $61.45 million.

Third Quarter Fiscal 2021 Summary:

• Revenue of $51.6 million, a decrease of 8.0% from the prior year period and a decline of 12.6% sequentially;
• Total active accounts decreased 4.0% compared to the prior year period while declining 3.4% sequentially to 168,000. The year over year decline included declines in distributors of 4.5% and customers of 3.7%. Compared to the second quarter of fiscal 2021, distributors declined by 6.0% and customers declined by 1.9%;
• Earnings per diluted share were $0.12, up 9.1% over the prior year period and down 53.8% sequentially;
• Adjusted earnings per diluted share were $0.20, up 53.8% compared to $0.13 in the prior year period and down 20.0% sequentially;
• Adjusted EBITDA decreased 5.7% to $4.8 million compared to the prior year period and decreased 28.4% sequentially;
• Repurchased 213,000, or $2.0 million, of common shares; and
• Strong balance sheet with $19.0 million of cash and no debt.

“While third quarter results did not meet our expectations, the strategies we’ve been implementing to drive improved operating performance are starting to have an impact, which we believe will drive favorable results over the next couple quarters,” said Steve Fife, Chief Executive Officer and Chief Financial Officer of LifeVantage. “Supply chain challenges related to COVID-19 were a factor in the third quarter, causing delays in new product launches due to raw material shortages. Despite a more challenging environment in the third quarter that resulted in an 8% decline in revenue, we still grew adjusted earnings per share by 54% to $0.20 per share compared to the prior year period. We’re very encouraged by our ongoing efforts to drive engagement and alignment across our field organization. Trends improved as the quarter progressed and recent activity by our top producers demonstrates their strong commitment to growth through a combined focus on both core competencies and new product offerings. We remain confident in our business model and strategic direction and are well positioned to drive long-term shareholder value.”

GUIDANCE:

Lifevantage sees FY2021 EPS of $0.90-$0.93, versus the consensus of $0.93.

For earnings history and earnings-related data on Lifevantage (LFVN) click here.