CORPORATE FINANCIAL REPORTS 5-3-21

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

Zions

Zions Bancorporation NA, based in Salt Lake City, reported net earnings applicable to common shareholders of $314 million, or $1.90 per share, for the 2021 first quarter. That compares with $6 million, or 4 cents per share, for the same quarter a year earlier.

The bank company operates under local management teams and distinct brands in 11 western states.

“Our first-quarter results were strong, reflecting an improving credit environment and outlook, which resulted in minimal net charge-offs and a substantial reversal of loan loss provisions made in prior quarters as the pandemic took hold,” Harris H. Simmons, chairman and CEO, said in announcing the results.

“During the quarter, we assisted more than 24,000 customers in obtaining access to $2.6 billion of governmental relief funds in the form of PPP loans, bringing the total amount of PPP loans made to small businesses over the past year to nearly $10 billion. Non-PPP loan volumes continued to experience attrition while total deposits saw robust growth, both being in large measure a result of unusually strong levels of liquidity in the economy.”

Qualtrics

Qualtrics, based in Provo, reported a net loss of $199.9 million, or 41 cents per share, for the first quarter ended March 31. That compares with a loss of $44.8 million, or 11 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $238.6 million, up from $176.1 million in the year-earlier quarter.

Qualtrics is focused on customer experience.

“Q1 was an outstanding quarter for Qualtrics, and a powerful start to our fiscal year,” Zig Serafin, CEO, said in announcing the results. “Organizations around the world are in the middle of an important transformation — an experience transformation — and Qualtrics has never been more relevant or impactful.”

Utah Medical Products

Utah Medical Products Inc., based in Salt Lake City, reported net income of $3 million, or 83 cents per share, for the most recent quarter. That compares with $3.1 million, or 84 cents per share, for the same quarter a year earlier and also for the 2019 first quarter.

Sales in the most recent quarter totaled $10.9 million, flat with the same quarter a year earlier and up from $10.7 million in the 2019 first quarter.

Utah Medical Products develops, manufactures and markets disposable and reusable specialty medical devices.

The company said it was reporting the income statement results compared to the same periods in both 2019 and 2020 “because of the aberration in results which began in March 2020 due to the impact of restrictions on ‘nonessential’ medical procedures.”