CORPORATE FINANCIAL REPORTS 3-15-21

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

Purple Innovation

Purple Innovation Inc., based in Lehi, reported a net loss of $2.1 million, or 3 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $12.7 million, or 29 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $173.9 million, up from $124.3 million in the year-earlier quarter.

For the full year 2020, the company reported net income of $10.9 million, or 8 cents per share, which compares with a net loss of $12.4 million, or 40 cents per share, for 2019.

Revenue in 2020 totaled $648.5 million, up from $428.4 million in 2019.

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

“We concluded an amazing year of profitable growth for Purple with a strong fourth-quarter performance,” Joe Megibow, CEO, said in announcing the results. “Despite the many challenges in 2020, our teams leaned-in and executed successfully, including this holiday season, identifying and capitalizing on market opportunities while at the same time investing in future growth.”

Megibow said the company has doubled its share of the U.S. premium mattress market over the past two years.

“Fiscal 2021 is off to a solid start and we believe we are well-positioned to build on our recent accomplishments and intend to continue investing in capacity expansion, innovation and company showrooms to further expand our market share for years to come.”

Clarus

Clarus Corp., based in Salt Lake City, reported net income of $7.1 million, or 22 cents per share, for the fourth quarter ended Dec. 31. That compares with $12.4 million, or 40 cents per share, for the same quarter a year earlier.

Sales in the fourth quarter totaled $75.9 million, up from $61 million in the year-earlier quarter.

For the full year 2020, the company reported net income of $5.5 million, or 18 cents per share, which compares with $19 million, or 61 cents per share, for 2019.

Sales in 2020 totaled $224 million, down from $229.4 million in 2019.

Clarus develops, manufactures and distributes outdoor equipment and lifestyle products focused on the climb, ski, mountain and sport markets. Its brands include Black Diamond, Sierra, Barnes, PIEPS and SKINourishment.

“Our momentum from the third quarter carried through to the end of the year, demonstrating the strength of our brand portfolio and the resilience of our ‘super-fan’ brand strategy,” John Walbrecht, president, said in announcing the results.

“The strong year-over-year sales growth we generated during the fourth quarter of 2020 outperformed our previously stated outlook and drove an even more robust improvement in our fourth-quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization). This performance in a dynamic retail environment is a testament to the hard work of our team and our commitment to our strategic priorities.”