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 a net loss of $3.3 million, or 9 cents per share, for the second quarter ended July 29. That compares with net income of $14.6 million, or 35 cents per share, for the same quarter a year earlier.
Net sales in the most recent quarter totaled $309.5 million, down from $351 million in the year-earlier quarter.
Sportsman’s Warehouse Holdings is an outdoor specialty retailer.
“We were disappointed with our second-quarter results and the slow-down in store traffic, as the challenging macroeconomic conditions continue to pressure consumer discretionary spending,” Joseph Schneider, interim CEO and chair of the board, said in announcing the results.
“Given results came in below our expectations, we are taking additional actions to reduce our overall expense structure to closer align with current sales trends. Additionally, we will be more aggressive and strategic with our promotional activity to drive foot traffic to our stores and leverage our omni-channel platform to provide consumers with an industry-leading product assortment.”
LifeVantage
LifeVantage Corp., based in Salt Lake City, reported net income of $2 million, or 15 cents per share, for the fiscal fourth quarter ended June 30. That compares with a loss of $1.4 million, or 11 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $54.2 million, up from $50.9 million in the prior-year period.
For the full fiscal year, the company reported net income of $2.5 million, or 20 cents per share. That compares with $3.1 million, or 24 cents per share, for the prior fiscal year. Revenue in the most recent fiscal year totaled $213.4 million, compared with $206.4 million in the prior year.
LifeVantage offers nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care, bath and body, and targeted relief products.
Steve Fife, president and CEO, said the company had “another strong quarter.”
“Entering fiscal 2024, we are in a position of considerable strength, with $21 million of cash, no debt, and profitability expected to show material improvement as we continue to grow the top line and execute on the core principles of [product] LV360.”