CORPORATE FINANCIAL REPORTS 11-15-21

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

Nu Skin

Nu Skin Enterprises Inc., based in Provo, reported net income of $49.7 million, or 97 cents per share, for the third quarter ended Sept. 30. That compares with $56.3 million, or $1.08 per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $641.2 million, down from $703.3 million in the year-earlier quarter.

Nu Skin is a beauty and wellness company. Its products include Nu Skin personal care, Pharmanex nutrition and ageLOC anti-aging brands.

“As we previously announced, our third-quarter revenue was lower than anticipated due to COVID delta variant disruptions as unexpected government restrictions interrupted selling and promotional activities in several markets, specifically in Mainland China and Southeast Asia,” Ryan Napierski, president and CEO, said in announcing the results.

“Despite these short-term impacts, we are encouraged by our continued growth in the U.S., which was driven by our Beauty Focus Collagen+ launch and double-digit growth in Korea due to successful product promotions and sales leader initiatives.”

R1 RCM

R1 RCM Inc., based in Murray, reported net income of $17 million, or 5 cents per share, for the third quarter ended Sept. 30. That compares with $5.2 million for the same quarter a year earlier.

Revenue in the most recent quarter totaled $379.7 million, up from $307.2 million in the year-earlier quarter.

R1 provides technology-driven solutions that transform the patient experience and financial performance of healthcare providers.

“Our third-quarter results demonstrate continued strong execution across our business, thanks to the dedication of our team members,” Joe Flanagan, president and CEO, said in announcing the results. “We remain very optimistic about our growth prospects and continue to see a healthy progression of new business in our pipeline. With the investments we’ve made in technology in recent years, we believe R1 is distinctly positioned to deliver superior financial outcomes for healthcare providers, and an exceptional experience for their patients.”

Nature’s Sunshine Products

Nature’s Sunshine Products Inc., based in Lehi, reported net income of $5.5 million, or 24 cents per share, for the third quarter ended Sept. 30. That compares with $7.2 million, or 34 cents per share, for the same quarter a year earlier.

Net sales in the most recent quarter totaled $114.7 million, the fifth consecutive quarter of company-record net sales and up from $100.3 million in the year-earlier quarter.

Nature’s Sunshine Products markets and distributes nutritional and personal care products in more than 40 countries.

“Once again, we delivered the largest sales quarter in the 49-year history of the company,” Terrence Moorehead, CEO, said in announcing the results. “Every market we operate in is growing and we see ample runway for continued expansion. We have witnessed a dramatic, fundamental change in Nature’s Sunshine’s business as our powerful global growth strategies take effect. In fact, the investments we’ve made to re-brand, sharpen our sales fundamentals, and revamp our website contributed to broad customer and sales growth during the quarter.

“From a supply chain perspective, we used our strong balance sheet to increase product availability and leveraged our in-house production capabilities to be more agile to our customers’ needs. We are confident this strategy will better position us to satisfy demand in a timely manner.”

LifeVantage

LifeVantage Corp., based in Salt Lake City, reported net income of $3.3 million, or 25 cents per share, for the first fiscal quarter ended Sept. 30. That compares with $2.5 million, or 17 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $53.2 million, down from $54.8 million in the year-earlier quarter.

LifeVantage is focused on nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health.

“We continue to make progress on our initiatives around leveraging the strength of our core products and unique business model,” Steve Fife, CEO, said in announcing the results. “Momentum across our distributors is building and we saw an acceleration in activity in recent weeks, coming out of our annual convention which had over 1,500 people attend in person and we estimate over 10,000 people participated virtually.

“Development of digital tools and resources remains a key area of focus, which should fuel future account growth while also driving productivity gains for distributors. First-quarter results were largely in line with our expectations and our ability to deliver high rates of profitability despite the persistence of top-line headwinds stemming from limited in-person activity is a testament to the company’s strong financial model.”

Profire Energy

Profire Energy Inc., based in Lindon, reported net income of $92,246, or zero cents per share, for the third quarter ended Sept. 30. That compares with a net loss of $1 million, or 2 cents per share, for the same quarter a year earlier.

Revenues in the most recent quarter totaled $6.9 million, up from $4 million in the year-earlier quarter.

Profire provides solutions that enhance the efficiency, safety and reliability of industrial combustion appliances.

“Our third-quarter results reflect the continued return of economic activity across global markets, resulting in higher oil and gas prices compared to the prior-year quarter,” Ryan Oviatt, co-CEO and chief financial officer, said in announcing the results. “Our sequential and year-over-year revenue growth reflects increased product sales and resumption of service orders from customers that have been largely deferring capital during the pandemic.”

“We are encouraged by the results of the third quarter,” said Cameron Tidball, co-CEO. “We continue to believe that demand for our products in both our core business and new industries and markets will continue to trend positively. Additionally, the traditional inventory levels that we strategically hold will enable us to continue our first-in-class reputation of delivering for our customers as industry continues to navigate global supply chain challenges.”

Quotient Technology

Quotient Technology Inc., based in Salt Lake City, reported a net loss of $7.8 million, or 8 cents per share, for the third quarter ended Sept. 30. That compares with a loss of $4.2 million, or 5 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $135.9 million, up from $121.1 million in the year-earlier quarter.

Quotient is a digital media and promotions technology company for advertisers, retailers and consumers.

“We delivered a great quarter of revenue growth and a 13 percent adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin,” Steven Boal, CEO and founder, said in announcing the results. “We’ve also made significant progress on scaling our platform and reducing low margin business to set Quotient up for sustainable, long-term, profitable growth.”

Arena Pharmaceuticals

Arena Pharmaceuticals Inc., based in Park City, reported a net loss of $196.3 million, or $3.21 per share, for the third quarter ended Sept. 30. That compares with a loss of $97.4 million, or $1.69 per share, for the same quarter a year earlier.

The company had no revenues in the most recent quarter. It had $20,000 in the year-earlier quarter.

Arena is focused on developing medicines.