The following are recent financial reports as posted by selected Utah corporations:
HealthEquity
Health Equity Inc., based in Draper, reported net income of $35.8 million, or 40 cents per share, for the second quarter ended July 31. That compares with $10.6 million, or 12 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $299.9 million, up from $243.5 million in the year-earlier quarter.
Health Equity is the nation’s largest health savings account custodian.
“‘Team Purple’ delivered an outstanding second quarter, increasing HSAs and HSA assets by 15 percent and 27 percent, respectively, driven by strong growth in new HSAs from sales and the transition of the remaining BenefitWallet HSAs to the HealthEquity platform,” Jon Kessler, president and CEO, said in announcing the results.
“Momentum in both top-line growth and margin expansion allows us to raise guidance, accelerate our platform investments, launch Health Payment Accounts and announce a $300 million share repurchase authorization.”
Sportsman’s Warehouse
Sportsman’s Warehouse Holdings Inc., based in West Jordan, reported a net loss of $5.9 million, or 16 cents per share, for the second quarter ended Aug. 3. That compares with a loss of $3.3 million, or 9 cents per share, for the same quarter a year earlier.
Net sales in the most recent quarter totaled $288.7 million, down from $309.5 million in the year-earlier quarter.
Sportsman’s Warehouse Holdings is an outdoor specialty retailer.
“We continued to make substantial progress on our initiatives to reset the business and improve our overall operations; however, we were disappointed that sales and margins came in below our expectations,” Paul Stone, president and CEO, said in announcing the results.
“While we were more aggressive with our promotional activities during the quarter, our core customer remains firmly under pressure due to the difficult macroenvironment and pullback in discretionary spending. We will continue to carefully manage the business and find ways to take non-customer-facing costs out of the business. Although the current conditions are challenging, we are not slowing our progress to transform our business and get back our edge as the leading outdoor specialty retailer. We still have a lot of work ahead of us, but we remain confident that our strategic initiatives have us on the right path to turn around this business.”