The following are recent financial reports as posted by selected Utah corporations:
Vista Outdoor
Vista Outdoor Inc., based in Farmington, reported a net loss of $377.7 million, or $6.44 per share, for the fiscal third quarter ended Jan. 1. That compares with net income of $43.2 million, or 70 cents per share, for the year-earlier quarter. Adjusted earnings per share was 62 cents, down from 70 cents a year earlier.
Operating expenses in the most recent quarter were $553 million, compared to $92 million in the prior-year quarter. The increase primarily reflects a pre-tax, non-cash goodwill and intangible impairment charge of $449 million, the company said. The increase in operating expenses also reflects additional expenses generated by the acquired businesses, and those increases were partially offset by reductions due to lower incentive accruals as a result of current-year performance, and cost-cutting initiatives, it said.
Sales in the most recent quarter totaled $654 million, up from $592.6 million in the year-earlier quarter. About $92 million was from recent acquisitions.
Vista Outdoor designs, manufactures and markets consumer products in the outdoor sports and recreation markets. The company operates in two segments, Outdoor Products and Shooting Sports. It has manufacturing operations and facilities in 13 U.S. states, Canada, Mexico and Puerto Rico and international customer service, sales and sourcing operations in Asia, Australia, Canada, Europe and New Zealand.
“Vista Outdoor is committed to delivering long-term growth through the execution of our strategy and a focus on new product development, operational efficiencies and execution excellence,” Mark DeYoung, chairman and chief executive officer, said in announcing the results.
“The challenging retail environment we experienced in our first and second quarters worsened in our third quarter following a slow hunting season and the national elections. This resulted in the need for increased promotional activity to support sales and maintain market share. We have also seen increased inventory in our retail and wholesale channels. As a result of these market factors, we announced a non-cash intangible impairment charge.”
Control4
Control4 Corp., based in Salt Lake City, reported net income of $4 million, or 16 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $700,000, or 3 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $57.4 million, up from $42.9 million in the year-earlier quarter.
For the full year 2016, the company reported net income of $13 million, or 53 cents per share. That compares with a net loss of $1.7 million, or 7 cents per share, for 2015. Revenue in 2016 totaled $208.8 million, up from $163.2 million in 2015.
Control4 provides automation and networking systems for homes and businesses.
“We closed 2016 with strong business performance, and we remain focused on sales and operations as well as new opportunities designed to increase customer and dealer awareness and satisfaction,” Martin Plaehn, chairman and chief executive officer, said in announcing the results.
“We continue to execute on our strategies, which include enhancing our industry-leading connected home solutions, strengthening our channel presence around the world, delivering tools and services to enhance dealer productivity, and expanding our partner and interoperability ecosystem — which we believe will collectively continue to strengthen the Control4 brand.”
Overstock.com
Overstock.com Inc., based in Salt Lake City, reported net income of $3.1 million, or 12 cents per share, for the 2016 fourth quarter. That compares with $110,000, or zero cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $526.2 million, up from $480.3 million in the year-earlier quarter.
For the full year 2016, the company reported net income of $12.5 million, or 49 cents per share. That compares with $2.4 million, or 10 cents per share, for 2015.
Revenue in 2016 totaled $1.8 billion, up from $1.66 billion in 2015.
Overstock.com is an online retailer.
Dynatronics
Dynatronics Inc., based in Cottonwood Heights, reported a net loss applicable to common stockholders of $560,000, or 19 cents per share, for the fiscal second quarter ended Dec. 31. That compares with a loss of $205,000, or 8 cents per share, for the same quarter a year earlier.
Net sales in the most recent quarter totaled $8.7 million, up from $7.5 million in the year-earlier quarter.
Dynatronics designs, man-ufactures, distributes, markets and sells physical medicine and rehabilitation products primarily to physical therapists, chiropractors, athletic trainers and sports medicine practitioners.
“The 16.6 percent increase in sales for the quarter reflects a return on the investments we are making to better support our sales team,” Jeff Gephart, senior vice president of sales, said in announcing the results. “We are continuing to refine our sales strategies to achieve sales growth, margin growth and expanded coverage in the markets we serve.”
Kelvyn H. Cullimore Jr., president and chief executive officer, said the company has “energized” its operations during the past year by hiring a new head of sales and marketing, new leadership in international sales and clinical education, a new chief financial officer and new management for its Chattanooga, Tennessee, facility. “We are also currently searching for a new leader of global operations to focus on improved manufacturing methods and enhanced gross profit margins, and to assist with possible acquisitions during 2017,” he said.
Instructure
Instructure Inc., based in Salt Lake City, reported a net loss of $12.9 million, or 46 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $12.1 million, or 74 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter was $31.5 million, up from $21.8 million in the year-earlier quarter.
For the full year 2016, the company reported a net loss of $53.6 million, or $1.92 per share. That compares with a loss of $53 million, or $6.07 in 2015. Revenue in 2016 totaled $110.9 million, up from $73.2 million in 2015.
Instructure is a software-as-a-service technology company.
“We ended 2016 with a solid Q4 performance,” Josh Coates, chief executive officer, said in announcing the results. “Revenue grew 45 percent for the quarter and 51 percent for the year, on a year-over-year basis. At the same time, we continued to realize substantial improvements to our operating margin.
“Our success in 2016 gives us confidence in our growth strategy. Given our progress in expanding our customer base and continued product innovation, we are excited for our prospects for 2017 and beyond.”
