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Firms with Utah ties announce earnings

Several companies based in Utah or with ties to the state announced quarterly earnings results Tuesday.

Nu Skin

Provo-based Nu Skin Enterprises reported net income of $20.9 million, or 29 cents per share, for the quarter ended Sept. 30. That compares with $15.1 million, or 19 cents per share, for the same period a year ago.

The 2003 figure included a one-time restructuring charge of $5.6 million, or 4 cents per share.

The earnings per share topped the Wall Street analyst consensus estimate by 2 cents.

Revenue totaled $283.3 million, up from $250.2 million a year ago.

For the first nine months of 2004, the company reported net income of $55.7 million, or 76 cents per share, on revenues of $831.5 million. That compares with $44.7 million, or 55 cents per share, on revenues of $710.5 million in the same period of 2003.

Nu Skin is predicting fourth-quarter revenue of $285 million to $290 million and earnings per share of 27 cents to 29 cents.

The company markets personal-care products under the Nu Skin brand, nutritional supplements under the Pharmanex brand and technology products under the Big Planet brand.

The company's stock rose $1.40 Tuesday to close at $19.40 per share on the New York Stock Exchange. During the past year, the price has ranged from $14.73 to $28.15.

Merit Medical

South Jordan-based Merit Medical Systems Inc. reported net income of $4.2 million, or 15 cents per share, for the quarter ended Sept. 30. That compares with $4.7 million, or 17 cents per share, for the year-ago period.

Revenues totaled $35.5 million, up from $34.5 million a year ago.

For the first nine months of 2004, the company reported net income of $13.6 million, or 49 cents per share, on revenues of $112.1 million. That compares with $12.6 million, or 47 cents per share, on revenues of $100.8 million during the first nine months of 2003.

The company develops, manufactures and distributes disposable medical products.

The company's stock fell 69 cents Tuesday to close at $10.01 per share on Nasdaq, a new 52-week low. During the past year, the price has traded as high as $25.40.

L-3 Communications

Defense electronics contractor L-3 Communications Holding Inc.'s earnings jumped 35 percent in the third quarter on strong sales growth across most of its business lines.

For the quarter ended Sept. 30, the New York-based supplier of intelligence and surveillance systems Tuesday posted earnings of $102.5 million, or 93 cents a share, on revenue of $1.78 billion.

Analysts were expecting earnings of 88 cents a share on revenue of $1.68 billion, according to Thomson First Call.

In the same period last year, it earned $76.1 million, or 74 cents a share, on revenue of $1.26 billion.

Communications Systems-West, the Salt Lake division of L-3, employs 2,000 people in Utah and expects to hire more than 400 people over the next five years.

Aircraft modernization and products sales more than doubled to $573.6 million, while sales for communications, intelligence, surveillance and reconnaissance systems increased 18 percent to $442.4 million.

Training, simulation and government-services sales rose 32 percent to $329.4 million.

New York Stock Exchange-listed L-3 shares closed Tuesday at $64.36, up 41 cents, or 0.6 percent.

IMergent

Orem-based e-commerce and software company iMergent Inc. reported net earnings of $1.7 million, or 14 cents per share, for the fiscal first quarter ended Sept. 30. That compares with $2.2 million, or 18 cents per share, for the same period a year ago.

Wall Street analysts had a consensus expectation of 12 cents per share for the most recent quarter.

Revenue totaled $23.7 million, up from $18.8 million a year ago.

The company's stock rose 9 cents Tuesday to close at $10 per share. During the past year, the price has ranged from $6.95 to $10.74.

Iomed

Salt Lake-based drug delivery system company Iomed Inc. reported net income of $326,000, or 4 cents per share, for the fiscal first quarter ended Sept. 30. That compares with $117,000, or 2 cents per share, for the same quarter in 2003.

Sales topped $3 million, up from $2.9 million a year ago.

The company's stock fell 2 cents Tuesday to close at $1.90 per share on the American Stock Exchange. During the past year, the price has ranged from $1.35 to $3.74.

Sonic Innovations

Salt Lake-based digital hearing aids company Sonic Innovations Inc. reported a net loss of $660,000, or 3 cents per share, for the quarter ended Sept. 30. That compares with a loss of $388,000, or 2 cents per share, for the year-ago quarter.

Wall Street's consensus estimate for the quarter was a loss of 4 cents per share.

Sales totaled $22.5 million, down from $23 million a year ago.

For the first nine months of 2004, the company reported net income of $1.6 million, or 7 cents per share, on sales of $73.1 million. That compares with a net loss of $1 million, or 5 cents per share, on sales of $62 million during the first nine months of 2003.

The company's stock fell 15 cents Tuesday to close at $3.50 per share on Nasdaq. During the past year, the price has ranged from $3.40 to $12.54.

ELLIS

Salt Lake-based English Language Learning and Instruction System Inc. reported net income of $47,991 on revenues of $1.1 million, the highest ever for the company during a third quarter and up from $458,686 during the year-ago quarter.

Net income for the first three quarters of 2004 was $112,989, and revenues totaled $2.6 million. That compares with a net loss of $979,346 for the first three quarters of 2003, on revenues of $2.3 million.

The company is a software development and marketing company focusing on better ways of teaching English.

The company's stock was up 1 cent Tuesday to close at 10 cents per share. During the past year, the price has ranged from 9 cents to 57 cents.

Berry Petroleum

California-based Berry Petroleum Co., involved in operations in the Uinta Basin, reported company-record net income of $18.2 million, or 82 cents per share, for the quarter ended Sept. 30. That compares with $7.8 million, or 35 cents per share, for the year-ago quarter.

The consensus Wall Street expectation was for earnings per share of 75 cents.

Revenues totaled $72.9 million, up from $44.5 million a year ago.

For the first nine months of 2004, the company reported record net income of $43.9 million, or $1.97 per share, up from $23 million, or $1.05 per share, for the first nine months of 2003. Revenues totaled $194.4 million, up from $130.8 million.

The company's stock rose $1.40 Tuesday to close at $40.04, its high point during the past year. During the past year, the price has been as low as $17.90.


Contributing: Dow Jones/Associated Press