CORPORATE FINANCIAL REPORTS

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

Huntsman

Huntsman Corp., with corporate offices in Salt Lake City and Texas, reported net income of $137 million, or 53 cents per share, for the quarter ended Dec. 31. That compares with $9 million, or 2 cents per share, for the same quarter a year earlier.

Revenues in the most recent quarter totaled nearly $2.4 billion, up from $2.3 billion in the year-earlier quarter.

For the full year 2016, the company reported net income of $357 million, or $1.36 per share. That compares with $126 million, or 38 cents per share, for 2015.

Revenues in 2016 totaled $9.66 billion, compared with $10.3 billion in 2015.

Huntsman manufactures and markets chemicals. It has more than 100 manufacturing and research and development facilities in about 30 countries. It has about 15,000 employees.

“At the beginning of 2016, we announced our intent to generate more than $350 million of free cash flow,” Peter R. Huntsman, president and chief executive officer, said in announcing the results. “We delivered a record $686 million of free cash flow in 2016, including $117 million during the fourth quarter. We used this cash, together with proceeds from the sale of our European surfactants business, to repay $560 million in debt, significantly strengthening our balance sheet.”

The company is working to separate its pigments and additive division business through a spin-off of Venator Materials Corp. Huntsman will retain a 40 percent economic interest in Venator.

Extra Space Storage

Extra Space Storage Inc., based in Salt Lake City, reported net income attributable to common stockholders of $82.4 million, or 65 cents per share, for the fourth quarter ended Dec. 31. That compares with $8.7 million, or 7 cents per share, for the same quarter a year earlier.

Funds from operations (FFO) attributable to common stockholders in the most recent quarter was $134.4 million, or $1 per share. That compares with $50.7 million, or 38 cents per share, for the year-earlier quarter.

Total revenues in the most recent quarter were $261 million, up from $225.8 million in the year-earlier quarter.

For the full year 2016, net income attributable to common stockholders was $366.1 million, or $2.91 per share. That compares with $189.5 million, or $1.56 per share, for 2015.

FFO for 2016 was $494.7 million, or $3.70 per share. That compares with $331.3 million, or $2.58 per share, in 2015.

Revenues in 2016 totaled $991.9 million, up from $782.3 million in 2015.

Extra Space Storage is a self-administered and self-managed real estate investment trust. At year-end, it owned and/or operated 1,427 self-storage stores in 38 states; Washington, D.C.; and Puerto Rico. It is the second-largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the nation.

“2016 was another strong year for Extra Space,” Joseph D. Margolis, chief executive officer, said in announcing the results. “Same-store revenue and NOI (net operating income) growth for the year were among the highest in our history, and earnings and FFO per share increases were among the best of all public real estate companies.

“We continued to grow our national portfolio with over $1 billion in acquisitions and the addition of over 60 third-party managed stores. Industry fundamentals continue to be sound, and while growth rates have moderated from all-time highs, we anticipate solid revenue, NOI and FFO growth in 2017.”

Holly Energy Partners

Holly Energy Partners LP, based in Dallas but with operations in Utah, reported net income of $41.4 million, or 40 cents per share, for the fourth quarter ended Dec. 31. That compares with $40.5 million, or 49 cents per share, for the 2015 fourth quarter.

Revenues in the quarter totaled $112.5 million, up from $97.3 million in the year-earlier quarter.

For the full year 2016, the company reported net income of $158.2 million, or $1.69 per share. That compares with $137.2 million, or $1.60 per share, in 2015.

Revenues in 2016 totaled $402 million, up from $358.9 million in 2015.

Holly Energy Partners provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corp. subsidiaries. The partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Utah and nine other states, and refinery processing units in Utah and Kansas.

“We are pleased with our solid financial performance in the fourth quarter,” George Damiris, chief executive officer, said in announcing the results. “Our strong and stable cash generation allowed us to accelerate our year-over-year distribution growth and progress towards our 8 percent distribution growth target as we maintained our record of continuous quarterly distribution increases.”

As of Oct. 1, the company completed its acquisition of an atmospheric distillation tower, a fluid catalytic cracking unit and a polymerization unit at the HollyFrontier Woods Cross refinery, he said.

Nu Skin

Nu Skin Enterprises Inc., based in Provo, reported net income of $38.2 million, or 69 cents per share, for the fourth quarter ended Dec. 31. That compares with $35.8 million, or 62 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $531.3 million, down from $572.2 million in the year-earlier quarter.

For the full year 2016, the company reported net income of $143 million, or $2.55 per share. That compares with $133 million, or $2.25 per share, in 2015.

Revenue in 2016 totaled $2.21 billion, down from $2.25 billion in 2015.

Nu Skin develops and distributes beauty and wellness products.

“The fourth quarter of 2016 showed a decline against 2015 due to approximately $50 million of product launch revenue in the fourth quarter of 2015,” Truman Hunt, president and chief executive officer, said in announcing the results. “Revenue in the fourth quarter of 2016 was also negatively impacted by $7 million of deferred revenue, primarily from a stronger-than-anticipated response to a promotion of ageLOC Me cartridges in China where orders outstripped our supply.”

Merit Medical

Merit Medical Systems Inc., based in South Jordan, reported net income of $7.5 million, or 17 cents per share, for the fourth quarter ended Dec. 31. That compares with $6.4 million, or 14 cents per share, for the same quarter a year earlier.

Sales in the most recent quarter totaled $157.7 million, up from $138.4 million in the year-earlier quarter.

Net income for 2016 was $20.1 million, or 45 cents per share. That compares with $23.8 million, or 53 cents per share, for 2015.

Revenue in 2016 totaled $603.8 million, up from $542.1 million in 2015.

Merit Medical manufactures and markets proprietary disposable devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology and endoscopy. It has about 4,500 employees worldwide.

“We are pleased to complete Year Two of our three-year plan,” Fred P. Lampropoulos, chairman and chief executive officer, said in announcing the results. “With the introduction of a number of new products in the beginning of 2017, we look forward to continued growth accompanied by continued expansion of gross margins and profits.”