The following are recent financial reports as posted by selected Utah corporations:
USANA
USANA Health Sciences Inc., based in Salt Lake City, reported net income of $30.8 million, or $1.41 per share, for the fourth quarter ended Dec. 28. That compares with $32.3 million, or $1.32 per share, for the same quarter a year earlier.
Net sales in the fourth quarter totaled $271.3 million, down from $299 million in 2018.
For the full year 2019, the company reported net income of $100.5 billion, or $4.41 per share, on sales of $1.06 billion. That compares with $126.2 million, or $5.12 per share, on sales of $1.19 billion in 2018.
USANA develops and manufactures nutritional supplements, healthy foods and personal care products that are sold directly to associates and preferred customers in several countries.
“Our fourth-quarter results were stronger than expected and allowed us to finish the year strong,” Kevin Guest, CEO, said in announcing the results. “Our performance was driven by a better-than-expected response to promotions we offered during the quarter, as well as improved general momentum in many of our markets around the world, including China.”
Guest acknowledged “the evolving situation in China” related to the spread of the coronoavirus.
“While the Chinese New Year holiday typically affects our first-quarter results, we expect an additional negative impact this year as a result of the coronavirus and the related impact on our business and consumer spending in China,” he said. “Notwithstanding the expected impact to our near-term results, we remain confident in our China business and our long-term opportunity in this important market.”
The short-term impact of those events “is difficult to estimate at this time, but are expected to meaningfully affect our first- quarter and full-year 2020 results,” he said.
Myriad Genetics
Myriad Genetics Inc., based in Salt Lake City, reported a net loss of $8.3 million, or 11 cents per share, for the fiscal second quarter ended Dec. 31. That compares with net income of $2.6 million, or 3 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $195.1 million, down from $216.8 million in the year-earlier quarter.
Myriad Genetics discovers and commercializes molecular diagnostic tests that determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression and guide treatment decisions.
“Revenue in the fiscal second quarter fell short of expectations largely due to the prenatal business,” R. Bryan Riggsbee, president and CEO, said in announcing the results. “Prenatal cash collections were negatively impacted by issues in billing operations that occurred during the transition of the home-grown Counsyl billing system to an industry-standard system used by Myriad. We are in the process of implementing a number of initiatives focused on improving cash collections, have made several organizational changes to bolster growth and are evaluating additional initiatives.
“Despite recent payer-related headwinds, we continue to see significant near-term prospects to drive increased revenue and I am highly focused on returning Myriad to a position of sustained long-term profitable growth.”
Varex
Varex Imaging Corp., based in Salt Lake City, reported a net loss of $1.3 million, or 3 cents per share, for the first fiscal quarter ended Jan. 3. That compares with net income of $3 million, or 8 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $200.1 million, up from $185.7 million in the year-earlier quarter.
Varex designs and manufactures X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. The company employs approximately 2,000 people at manufacturing and service center sites in North America, Europe and Asia.
“We had strong revenue growth in the first quarter driven by higher global sales of CT tubes and products for oncology, dental and airport baggage screening applications,” Sunny Sanyal, CEO, said in announcing the results.
“Partially offsetting this were lower sales of radiographic digital detectors and mammography products. Since the start of this fiscal year, we have renewed a number of multi-year pricing agreements with key customers, including our largest customer, Canon Medical Systems Corp.”