The following are recent financial reports as posted by selected Utah corporations:
Nu Skin
Nu Skin Enterprises Inc., based in Provo, reported net income of $7.3 million, or 15 cents per share, for the fourth quarter of 2023. That compares with $57.2 million, or $1.15 per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $488.6 million, down from $522.3 million in the prior-year quarter.
For the full 2023 fiscal year, the company reported net income of $8.6 million, or 17 cents per share. That compares with $104.8 million, or $2.07 per share, for the prior year. Revenue in 2023 totaled $1.97 billion, down from $2.2 billion in 2022.
Nu Skin offers personal care, nutrition and anti-aging products.
“While we continue to work toward our long-term vision of becoming the world’s leading integrated beauty and wellness platform, our progress was impacted by persistent macro-economic pressures and disruptions associated with transforming our business,” Ryan Napierski, president and CEO, said in announcing the results.
“This was particularly evident with our fourth-quarter results, which were down in our Americas, South Korea and Europe and Africa segments. This was offset by seasonal promotions in Mainland China, stabilization in Japan and modest growth in our Hong Kong/Taiwan segment. In addition, we achieved strong growth in our Rhyz businesses, which accounted for 13 percent of our revenue in the fourth quarter.”
Varex
Varex Imaging Corp., based in Salt Lake City, reported a net loss of $500,000, or 1 cent per share, for the fiscal first quarter ended Dec. 30. That compares with net income of $3.1 million, or 8 cents per share, for the same quarter a year earlier.
Revenues in the most recent quarter totaled $190 million, down from $205.6 million in the prior-year 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 2,300 people in North America, Europe and Asia.
“Revenue of $190 million in the first quarter of fiscal 2024 was at the mid-point of our guidance; however, unfavorable mix in both the Medical and Industrial segments impacted profitability,” Sunny Sanyal, CEO, said in announcing the results.