The following are recent financial reports as posted by selected Utah corporations:
Extra Space Storage
Extra Space Storage Inc., based in Salt Lake City, reported funds from operations (FFO) attributable to common stockholders and unit holders of $153.8 million, or $1.14 per share, for the quarter ended June 30. That compares with $146.1 million, or $1.08 per share, for the same quarter a year earlier.{mprestriction ids="1,3"}
Net income attributable to common stockholders was $95.2 million, or 75 cents per share, up from $87 million, or 69 cents per share, for the year-earlier period.
Revenues totaled $296.8 million in the most recent quarter, up from $$276 million in the year-earlier quarter.
Extra Space Storage is a self-administered and self-managed real estate investment trust that, at quarter’s end, owned and/or operated 1,568 self-storage stores in 39 states; Washington, D.C.; and Puerto Rico. The company is the second-largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the nation.
“2018 continues to go as planned with solid rental rate growth in the mid-single digits as well as strong same-store occupancy of 94.2 percent,” Joe Margolis, CEO, said in announcing the results. “We continue to execute our strategy of consistent property operations, steady external growth and efficient capital allocation. We are pleased with our platform’s performance in the first two quarters, and we believe we are positioned for a strong second half of 2018.”
Overstock.com
Overstock.com Inc., based in Salt Lake City, reported a net loss of $64.9 million, or $2.20 per share, for the quarter ended June 30. That compares with a loss of $7.5 million, or 29 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $483.1 million, up from $432 million for the year-earlier quarter.
The company is an online retailer and advancer of blockchain technology.
Security National Financial
Security National Financial Corp., based in Salt Lake City, reported after-tax earnings from operations of $3.2 million, or 20 cents per share, for the quarter ended June 30. That compares with $2.5 million, or 15 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $68.9 million, down from $73.3 million in the year-earlier quarter.
The company has three business segments: life insurance, cemeteries/mortuaries and mortgages.
“We are always pleased when we can report an increase in profitability. But, more so than usual, there are numerous subplots to the story,” Scott M. Quist, president, said in announcing the results.
The life insurance segment saw revenue grow 13.5 percent and profitability grow nearly 5 percent, he noted. The cemeteries/mortuary group, outside of non-operational real estate activities, saw operating earnings increase 34 percent. The mortgage segment “continues to navigate in a particularly challenged industry,” Quist said.
Nature’s Sunshine
Nature’s Sunshine Products Inc., based in Lehi, reported net income attributable to common shareholders of $100,000, or de minimis per share, for the second quarter ended June 30. That compares with a loss of $200,000, or 1 cent per share, for the same quarter a year earlier.
Sales in the most recent quarter totaled $91.3 million, up from $81.3 million in the year-earlier quarter.
The company manufactures and direct-sells nutritional and personal care products.
“We generated strong second quarter sales growth compared to the prior-year period, which combined with our focus on cost controls led to improvement in both net income and EBITDA (earnings before interest, taxes, depreciation and amortization) compared to the prior year,” Gregory L. Probert, chairman and CEO, said in announcing the results.
Sales growth was positive in Synergy Asia Pacific, NSP Russia, Central and Eastern Europe and NSP China, with a moderated rate of decline in NSP Americas, he said.
“We are pleased with the continued momentum in Korea, which drove the majority of the growth in Synergy Asia Pacific. Additionally, in China, we dedicated management resources to increasing the engagement of our independent service providers over the past several months and are pleased with the sequential and year-over-year sales growth generated during the quarter. We still remain early in the development of our direct selling operations in China and will continue to focus on broadening our leadership and driving a long-term growth opportunity in this promising market.”{/mprestriction}
