LifeVantage (LFVN) 8-K Lifevantage Corporation Announces 3Q Fy 2008 Financial and Operating Results

Exhibit 99.1

FOR IMMEDIATE RELEASE NEWS

May 14, 2008 OTCBB: LFVN

LIFEVANTAGE CORPORATION ANNOUNCES
3Q FY 2008 FINANCIAL AND OPERATING RESULTS

GREENWOOD VILLAGE, Colorado — LifeVantage Corporation (OTCBB: LFVN), maker of Protandim^®, today announced results for its third quarter ended March 31, 2008. For the three month period ended March 31, 2008, the Company recorded net revenues of $0.8 million and a loss of $(0.6) million, or $(0.03) per share. For the three month period ended March 31, 2007, the Company recorded net revenues of $1.0 million and a loss of $(0.6) million, or $(0.03) per share.

For the nine month period ended March 31, 2008, the Company recorded net revenues of $2.4 million and a loss of $(1.3) million, or $(0.06) per share comparing to net revenues of $4.2 million and a loss of $(3.2) million, or $(0.14) per share for the nine month period ended March 31, 2007.

LifeVantage President and CEO, David W. Brown, commented, “While net sales have been relatively flat over the last three quarters, during the last three months we have succeeded in stabilizing the downward sales trend the Company has experienced in recent years. We have strengthened our management team with proven professionals, launched the Company’s first nation-wide television media test and significantly increased our Internet presence. We believe that we are now poised for significant customer acquisition and sales growth.”

About Protandim^®

Protandim^® is a unique approach to fighting the effects of cell-damaging free radical molecules which advance the aging process, including many of the diseases of aging. The patented dietary supplement increases the body’s natural antioxidant protection by inducing the cells of the body to produce naturally occurring protective antioxidant enzymes, a process which is thousands of times more effective than traditional vitamin-mineral supplements. Free radical damage occurs when a person is subjected to environmental stresses and generally increases with age. Data from a peer-reviewed scientific study in men and women, sponsored by LifeVantage, show that after 30 days of taking Protandim^®, the level of circulating toxins produced by free radicals decreased an average of 40 percent. With continued use, the decrease was maintained at 120 days. For more information, please visit the Protandim^® product web site atwww.protandim.com or contact Jan Strode at (619) 890-4040.

About LifeVantage Corporation

LifeVantage Corporation is a publicly traded (OTCBB:LFVN), science based, natural products company, dedicated to helping people reach their health and wellness goals through science-based solutions to oxidative stress. Founded in 2003 and based in Colorado, LifeVantage develops nutraceutical products, including Protandim, that leverage the company’s expertise and that are intended to deliver significant health benefits to consumers. For more information, visitwww.protandim.com or contact Jan Strode at (619) 890-4040.

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company’s current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties including the risk that sales of our product may not continue at the levels discussed in this press release. These risks and uncertainties may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. These and other risk factors are discussed in greater detail in the Company’s Annual Report onForm 10-KSB for the year ended June 30, 2007, and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company, and the Company undertakes no obligation to revise or update these forward-looking statements.

# # #

CONTACTS:

LifeVantage Corporation
Jan Strode, Investor Relations	Telephone: (619) 890-4040
Bradford Amman, CFO	Telephone: (720) 488-1711

LIFEVANTAGE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS

	(Unaudited)			(Audited)
	March 31, 2008			June 30, 2007
ASSETS
Current assets
Cash and cash equivalents	$	187,229		$	160,760
Marketable securities, available for sale		1,375,000			—
Accounts receivable, net		127,158			398,463
Inventory		104,833			27,834
Deferred expenses		73,204			117,807
Deposit with manufacturer		306,084			388,791
Prepaid expenses		112,229			60,175
Total current assets		2,285,737			1,153,830
Long-term assets
Property and equipment, net		76,848			108,915
Intangible assets, net		2,281,653			2,311,110
Deferred debt offering costs, net		214,806			—
Deposits		61,144			340,440
TOTAL ASSETS	$	4,920,188		$	3,914,295
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	252,807		$	148,699
Accrued expenses		379,134			230,811
Deferred revenue		519,030			818,250
Capital lease obligations, current portion		1,453			2,301
Revolving line of credit and accrued interest		250,379			—
Total current liabilities		1,402,803			1,200,061
Long-term liabilities
Capital lease obligations, net of current portion		—			846
Convertible debt, net of discount		275,513			—
Total liabilities		1,678,316			1,200,907
Commitments and Contingencies
Stockholders’ equity
Common stock, par value $.001, 250,000,000 shares authorized; 22,613,488 and 22,268,034 issued and outstanding as of March 31, 2008 and June 30, 2007, respectively		22,613			22,268
Additional paid-in capital		17,228,317			15,395,037
Accumulated (deficit)		(14,009,058	)		(12,703,917	)
Total stockholders’ equity		3,241,872			2,713,388
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	4,920,188		$	3,914,295

LIFEVANTAGE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	For the three months ended						For the nine months ended
	March 31,						March 31,
	2008			2007			2008			2007
Sales, net	$	783,946		$	995,274		$	2,387,677		$	4,207,518
Cost of sales		174,890			213,529			538,212			838,244
Gross profit		609,056			781,745			1,849,465			3,369,274
Operating expenses:
Marketing and customer service		357,990			504,616			1,021,111			2,605,616
General and administrative		702,404			806,878			1,606,926			3,606,824
Research and development		25,045			57,318			243,934			195,654
Depreciation and amortization		60,865			16,622			159,750			76,636
Loss on disposal of assets		—			—			—			95,654
Total operating expenses		1,146,304			1,385,434			3,031,721			6,580,384
Operating loss		(537,248	)		(603,689	)		(1,182,256	)		(3,211,110	)
Other (expense) and income:
Interest (expense)/income		(67,408	)		15,403			(122,885	)		46,110
Other income/(expense)		—			5,953			—			(2,547	)
Net other (expense) income		(67,408	)		21,356			(122,885	)		43,563
Net loss	$	(604,656	)	$	(582,333	)	$	(1,305,141	)	$	(3,167,547	)
Net loss per share, basic and diluted		($0.03	)		($0.03	)		($0.06	)		($0.14	)
Weighted average shares outstanding, basic and fully diluted		22,464,168			22,118,034			22,349,282			22,118,034