CORPORATE FINANCIAL REPORTS 6-10-19

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

HealthEquity

HealthEquity Inc., based in Draper, reported net income of $41.8 million, or 65 cents per share, for the fiscal first quarter ended April 30. That compares with $22.6 million, or 36 cents per share, for the same quarter a year earlier.

Net income for the most recent quarter includes $17.9 million, net of taxes, related to an equity investment.

Revenue in the most recent quarter totaled $87.1 million, up from $69.9 million in the year-earlier quarter.

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

“HealthEquity delivered excellent first-quarter fiscal 2020 results across our key financial metrics, setting the stage for another record year and allowing us to raise our guidance,” Jon Kessler, president and CEO, said in announcing the results. “We added over 89,000 new HSAs and helped our members grow their custodial assets by over $220 million in the quarter, while producing record revenue and earnings. Revenue grew 25 percent year over year and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) grew an even larger 31 percent.”

Sportsman’s Warehouse

Sportsman’s Warehouse Holdings Inc., based in Midvale, reported a net loss of $5.5 million, or 13 cents per share, for the fiscal first quarter ended May 4. That compares with a net loss of $5.8 million, or 14 cents per share, for the same quarter a year earlier.

Net sales in the most recent quarter totaled $174 million, down from $180.1 million in the year-earlier quarter.

Sportsman’s Warehouse is an outdoor sporting goods retailer.

“Our first-quarter results were within our expectations on the top line and slightly below on the bottom line as we were up against difficult comparisons in the prior year period for our firearm and ammunition categories,” Jon Barker, CEO, said in announcing the results. “Operationally, I am very pleased with the progress we made on our strategic initiatives centered around our omni-channel strategy, customer acquisition and engagement, and a differentiated merchandising assortment, all of which continue to drive market share gains.”

Barker said the company is “continuing to strategically invest in the business and focusing on many new initiatives including a new credit card partner, valuable firearm-related services and opportunities to selectively expand our exclusive product, among others. We believe these growth strategies, combined with our best-in-class customer service and expansive product selection at everyday low pricing, will continue to strengthen our competitive positioning in fiscal 2019 and beyond.”