The following are recent financial reports as posted by selected Utah corporations:
Varex
Varex Imaging Corp., based in Salt Lake City, reported net income of $1.4 million, or 3 cents per share, for the first fiscal quarter ended Dec. 31. That compares with a net loss of $6.4 million, or 16 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $198.8 million, up from $177.1 million in the year-earlier quarter.
Varex designs and manufactures X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. Its products are used in medical imaging as well as in industrial and security imaging applications. The company has about 2,100 employees in North America, Europe and Asia.
“Demand for our products remained strong in the first quarter of fiscal 2022, but supply chain constraints limited our ability to fulfill orders as planned,” Sunny Sanyal, CEO, said in announcing the results. “This resulted in quarterly revenue of $199 million, which was below our expectations. Profitability and cash generation were solid,” he said, with non-GAAP earnings per share of 25 cents and the cash balance reaching $158 million at the end of the quarter.
Quotient
Quotient Technology Inc., based in Salt Lake City, reported a net loss of $7.1 million, or 8 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $23.3 million, or 28 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $146.4 million, up from $142.5 million in the year-earlier quarter.
For the full year 2021, the company reported a net loss of $45.6 million, or 49 cents per share. That compares with a loss of $65.4 million, or 72 cents per share, for 2020.
Revenue in 2021 totaled $521.5 million, up from $445.9 million in 2020.
Quotient is a digital media and promotions technology company for advertisers, retailers and consumers. Its platform is powered by exclusive consumer spending data, location intelligence and purchase intent data to reach millions of shoppers daily and deliver measurable, incremental sales.
The company announced in October 2020 it would move its headquarters from Mountain View, California, to Salt Lake City.
“2021 was a year of progress for Quotient, both financially and operationally,” Steven Boal, CEO, said in announcing the results. “Despite a global pandemic and numerous other challenges throughout the year, we ended strong with solid revenues and EBITDA (earnings before interest, taxes, depreciation and amortization) in Q4.
“Over the past two years, we have been on a transformational journey, and we believe the Quotient that emerges into 2022 is a stronger, more agile, more efficient and better-positioned company, ready to deliver sustainable and profitable growth in the future.”
Boal said the company’s current quarter “will be challenging” because its relationship with Albertsons Cos. Inc. is winding down.
“We have been focused on implementing cost-cutting measures in advance of their transitioning off our platform and will continue to lower our operating expenses over the course of the year,” he said.
