The following are recent financial reports as posted by selected Utah corporations:
USANA
USANA Health Sciences, based in Salt Lake City, reported net earnings of $32.3 million, or $1.32 per share, for the fourth quarter ended Dec. 29. That compares with a net loss of $5.9 million, or 24 cents per share, for the same quarter a year earlier.
Sales in the most recent quarter totaled $299 million, up from $273.1 million in the year-earlier quarter.
For the full fiscal year 2018, USANA reported company-record net earnings of $126.2 million, or $5.12 per share, on company-record net sales of $1.19 billion. That compares with $62.5 million, or $2.53 per share, on net sales of $1 billion in 2017.
USANA develops and manufactures nutritional supplements, healthy foods and personal care products that are sold directly to associates and preferred customers throughout the United States and several other nations.
“USANA finished the year with another quarter of solid results, bolstered by our annual China national sales meeting in Macau and a few targeted product promotions in select markets,” Kevin Guest, CEO, said in announcing the results.
“Fiscal 2018 marks the 16th consecutive year that USANA has delivered record sales. Leverage generated from this exceptional sales growth produced stronger-than-anticipated operating margins and the highest net earnings in the history of the company. Outside of our financial performance, we accomplished several meaningful initiatives that generated momentum and better positioned us for continued growth into the future.”
Control4
Control4 Corp., based in Salt Lake City, reported net income of $30.5 million, or $1.11 per share, for the fourth quarter ended Dec. 31. That compares with $5.9 million, or 21 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $72.5 million, up from $68.1 million in the year-earlier quarter.
For the full year 2018, the company reported net income of $43.8 million, or $1.60 per share, on revenue of $272.5 million. That compares with $15.5 million, or 58 cents per share, on revenue of $244.2 million in 2017.
Control4 provides automation and networking systems for homes and businesses. Its offerings are available in more than 100 countries.
“Overall, 2018 was a strong performance year for Control4,” Martin Plaehn, chairman and CEO, said in announcing the results. “During the second half, we navigated several external economic and geo-political conditions impacting many businesses and consumers. With these external factors continuing, we enter 2019 with a strong, self-sufficient financial profile and cohesive team. We are excited about our product portfolio and broad global channel, and we have new investments well underway related to our product development and channel strengthening initiatives.”
Myriad Genetics
Myriad Genetics Inc., based in Salt Lake City, reported net income of $2.6 million, or 3 cents per share, for the fiscal second quarter ended Dec. 31. That compares with $30.9 million, or 43 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $216.8 million, up from $187.9 million in the year-earlier quarter.
“This quarter, we saw a return to revenue growth for our hereditary cancer business, an acceleration in our prenatal testing and continued profitability improvements driven by the ‘Elevate 2020’ program,” Mark C. Capone, president and CEO, said in announcing the results. “Importantly, in the last month, we announced two pivotal events with the publication of the GeneSight GUIDED study and the launch of our expanded Women’s Health sales team, which have the potential to drive transformational growth and long-term shareholder value.”
Park City Group
Park City Group Inc., based in Salt Lake City, report net income of $1.7 million, or 8 cents per share, for the second fiscal quarter ended Dec. 31. That compares with $1.4 million, or 6 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $5.6 million, down from $5.7 million in the year-earlier quarter.
Park City Group is the parent company of ReposiTrak Inc., which operates a B2B e-commerce, compliance and supply chain platform.
“Our converged business is driving benefits in terms of improved execution and enhanced profitability, as evidenced by the record net income in the quarter,” Randall K. Fields, chairman and CEO, said in announcing the results. “We continue to scale our network of connections, and we are still at the early stages for increasing the scope of our activities on this network. Our single technology platform and investments in automation are allowing us to shed the overhead of our legacy model. As we focus the ‘Success Team’ on serving our customers through a single, cohesive application platform, we expect revenue growth to accelerate and earnings growth to continue to outpace revenue growth.”
LifeVantage
LifeVantage Corp., based in Salt Lake City, reported net income of $800,000, or 6 cents per share, for the fiscal second quarter ended Dec. 31. That compares with $300,000, or 2 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter was a company-record $58.2 million, up from $49.5 million in the year-earlier quarter.
LifeVantage is engaged in the identification, research, development and distribution of advanced nutraceutical dietary supplements and skin and hair care products.
“We are very pleased with our record quarterly revenue generated during the second quarter, reflecting growth across nearly all of our markets and the positive impact of our product, geographical and member growth strategies,” Darren Jensen, president and CEO, said in announcing the results.
“The launch of Taiwan at the beginning of fiscal 2019 has enhanced our Greater China region and was a key contributor to our distributor growth during the second quarter. We are on track for additional geographic expansions in Europe later this year, where our customer program across several markets is seeding the launch of our business opportunity. Additionally, we plan to continue to innovate and enhance our product portfolio.”
Franklin Covey
Franklin Covey Co., based in Salt Lake City, reported a net loss of $1.4 million, or 10 cents per share, for the first fiscal quarter ended Nov. 30. That compares with a net loss of $2.4 million, or 17 cents per share, for the same quarter a year earlier.
Sales in the most recent quarter totaled $53.8 million, up from $47.9 million in the year-earlier quarter.
Franklin Covey specializes in organizational performance improvement.
“We were very pleased with the strong start to fiscal 2019, which exceeded our expectations and produced increased sales, increased gross profit, improved operating results, and a significant increase in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the quarter and for the latest 12 months,” Bob Whitman, chairman and CEO, said in announcing the results.
“Our revenue grew 12 percent, or $5.9 million, to $53.8 million, with growth occurring in both our enterprise and education divisions, and our adjusted EBITDA improved $2.6 million over the prior year.”
Whitman said the enterprise division’s 2018 results “marked ‘the crossing of the bridge’ on the transformation of our enterprise division’s business model, and our strong first quarter fiscal 2019 results position us for accelerated growth in both revenue and profitability during the year.”
Dominion Energy
Dominion Energy Inc., a Virginia-based company that merged with Salt Lake City-based Quester Corp. in 2016, reported earnings of $641 million, or 97 cents per share, for the 2018 fourth quarter. That compares with $1.3 billion, or $2.04 per share, for the same quarter a year earlier.
Operating revenue in the most recent quarter totaled $3.4 billion, up from $3.2 billion in the year-earlier quarter.
For the full year 2018, the company reported earnings of $2.4 billion, or $3.74 per share, on operating revenue of $13.4 billion. That compares with earnings of $3 billion, or $4.72 per share, on operating revenue of $12.6 billion for 2017.
Dominion has nearly 7.5 million electricity or natural gas customers in 18 states.
“Our full-year 2018 operating earnings per share grew 12.5 percent compared to 2017 and exceeded our guidance range midpoint,” Thomas F. Farrell II, chairman, president and CEO, said in announcing the results.
Huntsman
Huntsman Corp., with main offices in Salt Lake City and Texas, reported a net loss of $315 million, or $1.43 per share, for the fourth quarter ended Dec. 31. That compares with net income of $287 million, or $1 per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $2.24 billion, up from $2.2 billion in the prior-year quarter.
For the full year, the company reported net income of $650 million, or $1.39 per share, on revenues of $9.4 billion. That compares with $741 million, or $2.61 per share, on revenues of $8.4 billion for 2017.
Huntsman is a manufacturer and marketer of differentiated and specialty chemicals. It operates more than 75 manufacturing, research and development and operations facilities in approximately 30 countries and employs approximately 10,000 associates within its four business divisions.
“2018 was another successful year for Huntsman as we reported record earnings and consistent robust free cash flow,” Peter R. Huntsman, chairman, president and CEO, said in announcing the results. “We continued to expand in our downstream and differentiated businesses both through internal investments and bolt-on acquisitions. We reinforced our investment grade level balance sheet by entering into an expanded $1.2 billion senior unsecured revolver, and we remain well within investment grade metrics with a 1.3x net leverage ratio.
“We also significantly enhanced our capital return to shareholders this past year by increasing our regular quarterly dividend by 30 percent and repurchasing over 10 million shares for approximately $276 million.
“In spite of strong customer destocking brought about by seasonal slowness, falling crude prices and economic uncertainties, our results reflect one of our strongest fourth quarters in our history. We will continue to globalize recent investments, focus on our higher-growth markets, and expand on our downstream businesses. … 2019 will be another year of strong free cash flow generation and growth in our downstream businesses.”
