CORPORATE FINANCIAL REPORTS

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

USANA

USANA Health Sciences Inc., based in Salt Lake City, reported net income of $21.9 million, or 87 cents per share, for the fourth quarter ended Dec. 31. That compares with $24 million, or 92 cents per share, for the same quarter in 2015.

Sales in the most recent quarter totaled $252.9 million, up from $232.6 million in the year-earlier quarter.

For the full year 2016, the company reported net income of $100 million, or $3.99 per share. That compares with $94.7 million, or $3.59 per share, in 2015. Sales in 2016 totaled $1 billion, up from $918.5 million in 2015.

USANA develops and manufactures nutritional supplements, healthy foods and personal care products that are sold directly to associates and preferred customers.

“While USANA finished the year with another quarter of solid top line and associate growth, several initiatives we implemented during the fourth quarter resulted in net earnings at the lower end of our guidance,” Kevin Guest, chief executive officer, said in announcing the results.

“The first of these initiatives was the successful transition of our China manufacturing operations to our new production facility, which is now fully operational. With this facility in place, we now have the production capacity that we need in China. A second initiative entailed us offering a growth incentive to our associates around the world that positively contributed to our performance during the quarter. These initiatives are important to our business and have also helped us get off to a good start in 2017.”

Guest called 2016 “another exceptional year for USANA,” noting that the company surpassed the $1 billion mark in net sales, generating its 14th consecutive year of record sales, and reported the highest earnings per share in the company’s history.

Myriad Genetics

Myriad Genetics Inc., based in Salt Lake City, reported net income of $5.9 million, or 9 cents per share, for the fiscal second quarter. That compares with $37.1 million, or 50 cents per share, for the same quarter a year earlier.

Adjusted earnings per share was 26 cents, compared with 45 cents a year earlier.

Revenues in the most recent quarter totaled $196.5 million, up from $193.3 million in the year-earlier quarter.

Myriad Genetics is a personalized medicine company that discovers and commercializes molecular diagnostic tests.

“Revenues this quarter reached their highest level in the last three years, driven by a return to sequential growth in hereditary cancer revenue and strong results from GeneSight,” Mark C. Capone, president and chief executive officer, said in announcing the results.

“Importantly, our diversification strategy is working with new products now contributing more than two-thirds of testing volume. We also made steady progress on increasing reimbursement that will ultimately unlock significant operating leverage and long-term shareholder value.”

SkyWest

SkyWest Inc., based in St. George, reported a net loss of $270 million, or $5.22 per share, for the 2016 fourth quarter ended Dec. 31. That compares with net income of $41 million, or 78 cents per share, for the same quarter a year earlier.

Adjusted net income was $29 million, or 54 cents per share, compared with adjusted net income of $25 million, or 49 cents per share, in the year-earlier quarter.

The adjusted results exclude a $466 million non-cash impairment charge on SkyWest’s 50-seat aircraft and related long-lived assets and spare aircraft parts and $7 million of early lease return charges.

Revenue in the 2016 fourth quarter totaled $758 million, up from $752.7 million in the year-earlier quarter.

For the full year 2016, the company reported a net loss of $162 million, or $3.14 per share. That compares with net income of $118 million, or $227 per share, for 2015. Adjusted net income was $143 million, or $2.73 earnings per diluted share, for 2016, compared to adjusted net income of $103 million, or $1.98 earnings per diluted share, for 2015.

Revenue in 2016 totaled $3.12 billion, up from $3 billion in 2015.

SkyWest Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. The airline companies provide commercial air service in cities throughout North America with more than 3,100 daily flights. SkyWest has more than 19,000 employees.

“Our improved 2016 results were largely due to the addition, removal or redeployment of over 125 aircraft across our base fleet of 652 aircraft,” Chip Childs, chief executive officer, said in announcing the results. “The evolution of our fleet continues to reduce our risk, improve our capital flexibility and ensure we adapt to our major partners’ long- and short-term needs. Our ability to execute these significant transitions is only possible with the exceptional work of the 19,000 professionals across our organizations.”

Park City Group

Park City Group, based in Salt Lake City, reported net income to common shareholders of $1.2 million, or 6 cents per share, for the fiscal second quarter ended Dec. 31. That compares with $111,000, or 1 cent per share, for same quarter a year earlier.

Revenue in the most recent quarter was a company-record $4.8 million, up from $3.5 million in the same quarter a year earlier.

The company sells cloud-based software for retailers and their suppliers.

“We continue to see strong revenue growth driven by demand for our new applications, including ReposiTrak and our Vendor Portal,” Randall K. Fields, chairman and chief executive officer, said in announcing the results. “Total revenue was $4.8 million, our largest quarter ever, and an increase of 35 percent year over year, while revenue in the first half was $9 million, an increase of 36 percent from $6.6 million last year.”

“Looking forward,” Fields said, “we expect revenue and profitability in the second half of the fiscal year to be stronger than the first half. We have already exceeded our fiscal 2017 goal of doubling supplier connections, and we are seeing this momentum translate into accelerated revenue growth and operating leverage. As a result, we are confident that fiscal 2017 will be a record year, by a substantial margin.”