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 $31.9 million, or 66 cents per share, for the fiscal 2023 fourth quarter ended Sept. 30. That compares with $13.1 million, or 32 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $227 million, up from $231.4 million in the year-earlier quarter.
For the full fiscal year, the company reported net income of $48.2 million, or $1.07 per share. That compares with $30.3 million, or 73 cents per share, for the prior fiscal year.
Revenue in the most recent fiscal year totaled a company-record $893 million, up from $859.4 million in the prior year.
Varex designs and manufactures X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are components of X-ray imaging systems. The company has about 2,400 employees in North America, Europe and Asia.
“We are pleased to report another solid quarter,” Sunny Sanyal, CEO, said in announcing the results. “Revenue of $227 million in the fourth quarter of fiscal 2023 was the result of the strong performance in our Industrial segment, offset primarily by lower revenue in China in our Medical segment. Cash generation remained robust due to solid profitability and a continued focus on inventory management, enabling us to finish the fiscal year with $195 million of cash and marketable securities on the balance sheet.”
Security National
Security National Financial Corp., based in Salt Lake City, reported after-tax earnings of $4 million, or 51 cents per share, for the quarter ended Sept. 30. That compares with a loss of $2.4 million, or 19 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $80.2 million, down from $83.5 million in the year-earlier quarter.
Security National Financial has three business segments: life insurance, cemeteries/mortuaries and mortgages.
“I am quite pleased with our company’s financial performance in the third quarter and year to date,” Scott M. Quist, president, said in announcing the results. “To have triple-digit increases over both 2022 third-quarter and YTD net income is an excellent performance, especially when considered in light of our tough first quarter.”
Owlet
Owlet Inc., based in Lehi, reported a net loss of $7 million, or 84 cents per share, for the third quarter ended Sept. 30. That compares with a loss of $19.4 million, or $2.42 per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $9.2 million, down from $17.4 million in the year-earlier quarter.
Owlet offers a digital parenting platform.
In announcing the results, Kurt Workman, CEO, said the FDA had cleared the first-ever health monitor for babies at home.
“This clearance along with the Q2 announcement of BabySat clearance reposition Owlet for future growth,” he said. “Owlet continues to deliver against our strategic initiatives and our conviction in the company mission remains strong.”
Renalytix
Renalytix, with main offices in Salt Lake City and London, reported a net loss of $10.2 million, or 11 cents per share, for the first fiscal quarter ended Sept. 30. That compares with a loss of $12 million, or 16 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $459,000, down from $969,000 in the prior-year period.
Renalytix is focused on optimizing clinical management of kidney disease.