CORPORATE FINANCIAL REPORTS 4-11-22

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

Sportsman’s Warehouse

Sportsman’s Warehouse Holdings Inc., based in West Jordan, reported net income of $58.4 million, or $1.31 per share, for the quarter ended Jan. 29. That compares with $29.6 million, or 66 cents per share, for the same quarter a year earlier.

Sales in the most recent quarter totaled $416.3 million, down from $438.2 million in the year-earlier quarter.{mprestriction ids="1,3"}

For the full fiscal year ended Jan. 29, the company reported net income of $108.5 million, or $2.44 per share. That compares with $91.4 million, or $2.06 per share, for the prior fiscal year.

Sales in the most recent fiscal year totaled $1.5 billion, up from $1.45 billion in the prior year.

Sportsman’s Warehouse Holdings is an outdoor specialty retailer.

“We are very pleased with our performance for the fourth quarter as we exceeded our guidance given earlier in the year,” Jon Barker, CEO, said in announcing the results. “While there was some softening in our shooting sports category in 2021, our business fundamentals remain strong, with growth in all our other categories, led by double-digit growth in footwear and apparel. We also expanded our footprint by opening 10 new stores during the year,
refurbished another 19 stores, and grew our e-commerce business to over 15 percent of net sales, successfully executing on our strategic initiatives.”

Barker said it is “encouraging” as the company continues to see strong participation in outdoor activities. “We will continue to improve our merchandising and overall customer experience, and believe we are well-positioned to capture additional market share and further grow our omni-channel platform,” he said.

Sera Prognostics

Sera Prognostics Inc., based in Salt Lake City, reported a net loss of $12.5 million, or 41 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $5.4 million, or $3.29 per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $26,000, up from $6,000 in the year-earlier quarter.

For the full year 2021, the company reported a net loss of $35 million, or $2.33 per share. That compares with $19.9 million, or $12.76 per share, for 2020.

Revenue in 2021 totaled $82,000, up from $25,000 in 2020.

Sera is focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients.

“Fiscal year 2021 was a year full of notable developments and progress for Sera Prognostics as we commercially scale our business with the support of our shareholders, payors and employers who see the critical importance of our PreTRM Test to improve lives and reduce ever expanding healthcare costs,” Dr. Gregory C. Critchfield, chairman and CEO, said in announcing the results.

“While we have seen a slow initial rate of adoption, we expect to see growth during 2022 and beyond as COVID headwinds continue to wind down, as our sales staff make market inroads, and we accelerate our commercial activities.”

PolarityTE

PolarityTE Inc., based in Salt Lake City, reported a net loss of $30.2 million, or 38 cents per share, for the fiscal year ended Dec. 31. That compares with a loss of $42.9 million, or $1.16 per share, for 2020.

Revenues in 2021 totaled $9.4 million, down from $10.1 million in 2020.

PolarityTE is a biotechnology company developing regenerative tissue products and biomaterials.

Sarcos

Sarcos Technology and Robotics Corp., based in Salt Lake City, reported a net loss of $34.1 million, or 25 cents per share, for the quarter ended Dec. 31. That compares with a loss of $3.9 million, or 4 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $1 million, down from $3.4 million in the prior-year quarter.

For the full year 2021, the company reported a net loss of $81.5 million, or 72 cents per share. That compares with a loss of $20.9 million, or 21 cents per share, in 2020.

Revenue in 2021 totaled $5.1 million, down from $8.8 million in 2020.

Sarcos develops robotic systems that augment humans to enhance productivity and safety.

“The fourth quarter was one of major developments for Sarcos,” Kiva Allgood, president and CEO, said in announcing the results. “The completion of our initial Guardian XT Beta unit on schedule and the successful move into our new headquarters were testament to the hard work and dedication of the team.”{/mprestriction}