CORPORATE FINANCIAL REPORTS - 3-26-18

The following are recent financial reports as posted by selected Utah corporations:

Overstock.com

Overstock.com Inc., based in Salt Lake City, reported a net loss attributable to stockholders of $95.7 million, or $3.72 per share, for the fourth quarter ended Dec. 31. That compares with net income of $3.1 million, or 12 cents per share, for the same quarter a year earlier.

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Revenue in the most recent quarter totaled $456.3 million, down from $526.2 million in the year-earlier quarter.

For the full year 2017, the company reported a net loss attributable to stockholders of $109.9 million, or $4.28 per share, which compares with net income of $12.5 million, or 49 cents per share, for 2016.

Revenue in 2017 totaled $1.7 billion, down from $1.8 billion in 2016.

Overstock.com is an online retailer.

“We continue to seek opportunities for growth, in our retail business and through our Medici blockchain and financial technology initiatives and through other means,” the company said in announcing its results. “As a result of these initiatives, we will continue to incur additional expenses and may purchase interest in, or make acquisitions of other technologies and businesses. We anticipate that our initiatives may cause us to incur losses in the foreseeable future.

“These losses, additional expenses, acquisitions or purchases may be material, and, coupled with existing marketing expense trends, our plans to increase our marketing and branding expenditures, and strategic changes in our retail business, may lead to increased consolidated losses in some periods, and to reduced liquidity. Additionally, we may recognize additional impairment charges from our ownership interest in other entities.”

HealthEquity

HealthEquity Inc., based in Draper, reported net income of $5.9 million, or 9 cents per share, for the fourth quarter ended Jan. 31. That compares with $4.1 million, or 7 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $60.4 million, up from $46.8 million in the year-earlier quarter.

For the most recent full fiscal year, the company reported net income of $47.4 million, or 77 cents per share, which compares with $26.4 million, or 44 cents per share, in the prior fiscal year.

Revenue in the most recent fiscal year totaled $229.5 million, up from $178.4 million in the prior year.

HealthEquity is a health savings account (HSA) non-bank custodian.

“HealthEquity recorded a strong fiscal year 2018 by opening a record 669,000 new HSAs and helping members grow their HSA assets to $6.8 billion,” Jon Kessler, president and chief executive officer, said in announcing the results. “We continued to outpace the market and gain market share with 35 percent growth in custodial assets, including 96 percent custodial investment growth, and 24 percent growth of HSA members.

“Our revenue for the year was up 29 percent to $229.5 million and our adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was up an even higher 35 percent to $84.7 million as the team continued to drive greater profitability in our business.”

Nature’s Sunshine

Nature’s Sunshine Products Inc., based in Lehi, reported a net loss attributable to common shareholders of between $17 million, or 90 cents per share, and $18 million, or 80 cents per share, for the fourth quarter ended Dec. 31. Those compare with a net loss of $6.7 million, or 35 cents per share, for the same quarter a year earlier.

The company said it was providing preliminary ranges for its anticipated net loss for the fourth quarter and fiscal 2017, pending final determination of its provision for income taxes, including the impact of U.S. tax reform, among other factors.

The net loss range includes an estimated $14 million to $15 million non-cash re-measurement of deferred tax assets and liabilities related to U.S. tax reform.

Net sales in the most recent quarter totaled $88.3 million, up from $84 million in the year-earlier quarter.

For the full year 2017, the company said it expected a net loss attributable to common shareholders of $12.5 million, or 66 cents per share, to $13.5 million, or 71 cents per share. Those compare with net income of $2.1 million, or 11 cents per share, for 2016. The net loss range includes the non-cash re-measurement of deferred tax assets and liabilities related to U.S. tax reform.

Net sales totaled $342 million in 2017, up from $341.2 million in 2016.

Nature’s Sunshine manufactures and direct-sells nutritional and personal care products. It has about 495,000 independent managers, distributors and customers in more than 40 countries.

"Our fourth quarter results reflect continued year-over-year net sales growth, driven by gains across our Synergy Worldwide markets and strong growth in our NSP business in Russia, central and eastern Europe,” Gregory L. Probert, chairman and chief executive officer, said in announcing the results.

“We believe the disruptions to our North America business as a result of a new ERP system deployed in April 2017 are now behind us, but we have additional work to do to re-energize the market. We posted growth in China and continue to emphasize expanding our direct selling efforts in this market with the goal of building a long-term profitable new market.”

Purple Innovation

Purple Innovation Inc., based in Alpine, reported a net loss of $2 million for the fourth quarter ended Dec. 31. That compares with a loss of $200,000 for the same quarter a year earlier.

Net revenue in the most recent quarter totaled $63 million, up from $24.6 million in the year-earlier quarter.

For the full year 2017, the company reported a net loss of $5.4 million, which compares with a net loss of $1.9 million for 2016. Net revenue totaled $196.9 million in 2017, up from $65.5 million in 2016.

Purple designs and manufactures comfort products, including mattresses, pillows and cushions.

“The past two years have been a period of significant growth for our brand and business following our entrance into the direct-to-consumer mattress category in early 2016,” Terry Pearce, co-founder and chairman, said in announcing the results. “With our differentiated and patent-protected product offering, coupled with our expanded manufacturing capabilities and digital marketing prowess, the company is well-positioned to build on its recent momentum.

“We believe that we are just beginning to scratch the surface of Purple’s full potential within the $20-plus billion bedding industry and beyond as we leverage our comfort technology into new markets.”{/mprestriction}