CORPORATE FINANCIAL REPORTS 3-11-17

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

ZAGG

ZAGG Inc., based in Salt Lake City, reported a net loss of $4.1 million, or 15 cents per share, for the fourth quarter ended Dec. 31. That compares with net income of $5 million, or 18 cents per share, for the same quarter a year earlier.

Sales in the most recent quarter totaled $114.9 million, up from $78.6 million in the year-earlier quarter.

For the full year 2016, the company reported a net loss of $15.6 million, or 56 cents per share. That compares with net income of $15.6 million, or 54 cents per share, in 2015.

Sales in 2016 were a company-record $401.9 million, up from $269.3 million in 2015.

ZAGG produces screen protection, mobile keyboards, power management solutions, social tech and personal audio sold under the ZAGG, Mophie, InvisibleShield and IFROGZ brands. It has operations in the United States, Ireland and China.

“Our 2016 results reflect solid growth of our ZAGG business unit offset by actions taken in the fourth quarter to position the Mophie business for profitable growth beginning in 2017,” Randy Hales, president and chief executive officer, said in announcing the results.

“Our ZAGG business unit’s performance was highlighted by record InvisibleShield sales which, along with enhanced operational efficiencies, helped drive increases in unit level gross margin and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) despite device constraints. 2016 was a transition year for Mophie as we executed a number of initiatives to strengthen the business. We appointed a new president, implemented operational improvements, and right-sized the business to position Mophie for a strong turnaround in 2017.”

Nature’s Sunshine

Nature’s Sunshine Products Inc., based in Lehi, reported a net loss from continuing operations attributable to common shareholders of $6.7 million, or 35 cents per share, for the fourth quarter ended Dec. 31. That compares with net income of $3.7 million, or 19 cents per share, for the 2015 fourth quarter.

The company said the decrease was driven by activities and items related to China.

Sales in the most recent quarter totaled $84 million, up from $80 million in the year-earlier quarter.

For the full year 2016, the company reported net income from continuing operations attributable to common shareholders of $2.1 million, or 11 cents per share. That compares with $14.7 million, or 66 cents per share, in 2015.

Sales in 2016 totaled $341.2 million, up from $324.7 million in 2015.

Nature’s Sunshine Products markets and distributes nutritional and personal care products through a global direct sales force of approximately 550,000 independent managers, distributors and customers in more than 40 countries.

“Fourth quarter financial results were negatively impacted by items related to delay and uncertainty surrounding receipt of a direct selling license in China,” Gregory L. Probert, chairman and chief executive officer, said in announcing the results. “While our 2016 financial results have been constrained by the infrastructure built in anticipation of a future market opportunity, we remain steadfast in our belief that the investments are prudent given the potential opportunity that lies ahead of us should the regulatory process in China be completed.”

APX Group Holdings

APX Group Holdings Inc., based in Provo, reported a net loss of $71.2 million for the fourth quarter ended Dec. 31. That compares with a loss of $62.4 million for the same quarter a year earlier.

Revenues in the most recent quarter totaled $204.5 million, up from $175 million in the year-earlier quarter.

For the full year 2016, the company reported a net loss of $276 million, which compares with a loss of $279.1 million in 2015. Revenues totaled a company-record $757.9 million in 2016, up from $653.7 million in 2015.

Vivint Smart Home provides smart home services in North America.

“The smart home market continued to grow and evolve in 2016,” Todd Pedersen, chief executive officer of APX Group, said in announcing the results. “We’re seeing customer awareness increase. New use cases are coming to the market while estimates for the future size of the market are increasing. Most importantly, we believe that Vivint’s strategy of deploying an integrated, full-service offering and a curated model and product offering is a key differentiator in driving customer experience and earning a disproportionate share of the market’s profit pool.”