The following are recent financial reports as posted by selected Utah corporations:
Co-Diagnostics
Co-Diagnostics Inc., based in Salt Lake City, reported net income of $12.6 million, or 43 cents per share, for the quarter ended June 30. That compares with $1.3 million, or 8 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $24 million, up from $61,574 in the year-earlier quarter.
Co-Diagnostics offers a platform for the development of molecular diagnostic tests.
The company said its COVID-19 test and equipment sales orders approached $50 million year-to-date, including joint venture sales in India, through mid-third quarter.
“In the last four months since Co-Diagnostics received emergency use authorization from the FDA, the company has successfully grown our internationally recognized business and brand,” Dwight Egan, CEO, said in announcing the results.
“With clients in over 50 countries, 25 U.S. states, and validations of test accuracy from regulatory bodies of numerous countries around the world, Co-Diagnostics has established a distribution platform that we believe will continue to support sales and profitability as our tests have gained widespread acceptance in the market.
“We have created a test menu and established the production capacity to meet demand for tests as the nations of the world continue to battle the pandemic, and believe these efforts will continue to bolster the company’s durability in the months and years to come.”
LifeVantage
LifeVantage Corp., based in Salt Lake City, reported net income of $3.8 million, or 26 cents per share, for the fiscal fourth quarter ended June 30. That compares with $3.9 million, or 26 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $59.4 million, up from $56.2 million in the year-earlier quarter.
For the full fiscal year, the company reported net income of $11.5 million, or 79 cents per share. That compares with $7.4 million, or 50 cents per share, for the prior fiscal year. Revenue in the most recent year totaled $232.9 million, up from $226 million in the prior fiscal year.
LifeVantage is involved in the identification, research, development and distribution of nutraceutical dietary supplements and skin and hair care products.
“We are pleased to finish fiscal 2020 with a strong quarter while navigating the challenges of the current global pandemic,” Darren Jensen, president and CEO, said in announcing the results.
“During the quarter, we saw continued momentum in revenue, operating margin and EBITDA (earnings before interest, taxes, depreciation and amortization), as well as sequential growth in the number of total active accounts. We finished the year with 31 percent adjusted EBITDA growth and in a very strong financial position with $22 million in cash and zero debt. I am so proud of our team across the board who has excelled during these unprecedented times and want to thank each and every one of our employees and distributors for making 2020 a record year.”