Published on October 8, 2009 at 1:52 AM
LifeVantage Corporation (OTC Bulletin Board: LFVN), the maker of Protandim® and TrueScience(TM) Anti-Aging Cream, science-based solutions for oxidative stress, announced today that it has implemented reductions in operating costs while continuing to concentrate on the science behind its products and supporting the Company's ongoing expansion in the network marketing distribution channel. As LifeVantage continues to grow and expand its network marketing business model both in the U.S. and Mexico, and as the Company continues to make progress on the scientific front, it anticipates to continue to realign its expenses with its core competencies and needs.
LifeVantage has reduced costs associated with legal activities, public relations, marketing and distributor support by realigning assignments, bringing certain functions in house, and by working closely with top distributor leaders. The Company will continue to focus on distributor events and training as well as improved investor communication, targeting and outreach.
Most of the launch expenses attributable to the Company's entrance into the international market with its upcoming launch into Mexico were recognized in the first quarter, and the Company looks forward to its first international sales from this market later this quarter. Furthermore, as part of the Company's previously announced efforts to consolidate and streamline its team and operations, it expects to realize cost savings over the next two quarters by closing redundant office space, and consolidating warehouse facilities and related IT infrastructure, which will also result in decreased cost of goods ("COGS") through lower warehousing and shipping costs.
SOURCE LifeVantage Corporation