CORPORATE FINANCIAL REPORTS 9-3-18

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

Sportsman’s Warehouse

Sportsman’s Warehouse Holdings Inc., based in Midvale, reported net income of $6.6 million, or 15 cents per share, for the fiscal second quarter ended Aug. 4. That compares with $6.6 million, or 15 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $203.3 million, up from $191.5 million in the year-earlier quarter.{mprestriction ids="1,3"}

Sportsman’s Warehouse is an outdoor sporting goods retailer.

“We are pleased with our second-quarter performance as our top-line results were in line with expectations, including a comparable sales increase of 0.2 percent, and bottom-line results were a penny above our outlook, driven by our better-than-expected gross margins,” Jon Barker, CEO, said in announcing the results.

“We made good progress on the priorities we set at the start of the year, including our omni-channel strategy of store growth and e-commerce investment, customer acquisition and engagement and merchandising assortment. These strategic growth initiatives — combined with our convenient shopping experience, breadth of assortment and category expertise — are fueling continued market share gains as we focus on enhancing our competitive positioning.”

Myriad Genetics

Myriad Genetics Inc., based in Salt Lake City, reported net income of $13.1 million, or 18 cents per share, for the fiscal fourth quarter ended June 30. That compares with $12.3 million, or 18 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $200.9 million, up from $199.6 million in the year-earlier period.

For the full fiscal year, the company reported net income of $131 million, or $1.82 per share, on revenue of $772.6 million. That compares with $20.5 million, or 30 cents per share, on revenue of $769.9 million for the prior fiscal year.

Myriad Genetics is a personalized medicine company that discovers and commercializes molecular diagnostic tests.

“Fiscal year 2018 was an excellent year for Myriad as record-setting growth in new products with increasing reimbursement added to a solid hereditary cancer business and a re-engineered cost structure,” Mark C. Capone, president and CEO, said in announcing the results. “Based upon our operational momentum and the recent completion of the Counsyl acquisition, we are confident in our strategy to transform Myriad into the global leader in personalized medicine.”

Pluralsight

Pluralsight, based in Farmington, reported a net loss attributable to common shares of $187.8 million, or 19 cents per share, for the second quarter ended June 30. That compares with $43.5 million for the same quarter a year earlier.

Revenue in the most recent quarter totaled $53.6 million, up from $38.9 million in the year-earlier quarter.

Pluralsight is an enterprise technology learning platform that delivers a unified, end-to-end learning experience for businesses worldwide.

“We completed our IPO process early in the quarter and went on to deliver strong topline growth, as well as year-over-year improvement in operating performance,” Aaron Skonnard, co-founder and CEO, said in announcing the results.

“We continue to disrupt the technology skills development market with a platform that enables industry leaders and their teams to keep up with the rapid pace of technology change and deliver key innovations on time and on budget.”

LifeVantage

LifeVantage Corp., based in Salt Lake City, reported net income of $3 million, or 21 cents per share, for the fiscal fourth quarter ended June 30. That compares with $100,000, or 1 cent per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $54 million, up from $50.6 million in the year-earlier quarter.

For the full fiscal year, the company reported net income of $5.8 million, or 41 cents per share, on revenue of $203.2 million. That compares with net income of $1.6 million, or 11 cents per share, on revenue of $199.5 million, for the prior fiscal year.

LifeVantage identifies, researches, develops and distributes nutraceutical dietary supplements and skin care products.

“We are very pleased to finish fiscal 2018 on a strong note, exceeding our adjusted-earnings-per-share guidance and reporting accelerated revenue growth both on a year-over-year and a sequential basis,” Darren Jensen, president and CEO, said in announcing the results.

“The initiatives implemented over the last year have driven improved growth and retention of our active members (total active distributors and customers), higher average order sizes, broadened our product portfolio and geographical footprint and put us at the forefront of the technologically driven evolution of network marketing.”

Profire Energy

Profire Energy Inc., based in Lindon, reported net income of $1.7 million, or 4 cents per share, for the fiscal quarter ended June 30. That compares with $1.3 million, or 3 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $11.3 million, up from $9.5 million in the year-earlier quarter.

The company creates, installs and services burner and chemical management solutions in the oil and gas industry.

“We continually seek opportunities that can help further our strategic goals and currently have the resources and balance sheet to make investments that we believe will be beneficial to Profire and its shareholders,” Ryan Oviatt, chief financial officer, said in announcing the results.

“Our management team remains focused on allocating spending to meet market demand and to accelerate growth potential. We have focused our investment in R&D over the past year as we believe the new SIL certification, which allows us to enter new markets that we could not previously serve, and product enhancements will be significant drivers for future growth.”

ForeverGreen

ForeverGreen Worldwide Corp., based in Lindon, reported a net loss of $414,179, or 2 cents per share, for the second quarter ended June 30. That compares with a net loss of $696,414, or 3 cents per share, for the same quarter a year earlier.

Revenues in the most recent quarter totaled $2.7 million, down from $4.8 million for the year-earlier quarter.

ForeverGreen produces health products.

“The company has set the foundation for future growth and profitability by improving efficiency and other cost-cutting measures,” Joe Jensen, principal executive officer, said in announcing the results. “We anticipate double-digit monthly sales growth moving forward, with significant operating profitability.

“With the recent launch of new products, new sales regions and the efficiency of our envelope shipping model, we are convinced the company is on the right path to deliver the appropriate financial metrics required. We anticipate that Q3 and Q4 financials will be substantially improved.”{/mprestriction}