Several companies based in Utah or with ties to the state reported quarterly earnings Monday.
UCN
Salt Lake-based UCN Inc. reported $22.2 million in revenue for the three months ended Sept. 30, a 41 percent increase over revenue of $15.7 million for the same quarter in 2004.
Net loss before preferred stock dividend was $1.6 million for the third quarter, compared to a net loss of $678,857 for the same period in 2004.
The company also announced Monday that it raised $2.5 million in equity financing through the sale of common stock and warrants to two institutional investors.
In addition, the company noted it had entered into a 3-year revolving credit line for the amount of $10 million with CapitalSource Finance.
UCN provides contract handling application services and business long-distance service over its Voice over Internet Protocol network.
The company's stock rose 10 cents, or 5.4 percent, Monday to close at $1.95 per share. During the past year, the price has ranged from $1.65 to $3.11.
Lee Enterprises
Newspaper publisher Lee Enterprises Inc., which publishes the Provo Daily Herald, reported a 39 percent decline in quarterly profits, despite higher revenues, due to costs related to its acquisition of Pulitzer Inc.
Earnings fell to $13.1 million in the company's fourth fiscal quarter, or 29 cents per share, from $21.3 million, or 47 cents per share, in the same period last year.
Revenue surged 67 percent to $290.2 million from $174 million.
Lee said costs related to the Pulitzer deal cut earnings by 22 cents in the quarter and 39 cents for its full fiscal year. Excluding those costs, Lee said fourth-quarter earnings would have been 51 cents per share.
Advertising revenue, including the addition of Pulitzer, grew 74 percent during the quarter to $226 million, on especially big gains in national and online advertising. Excluding Pulitzer, total fourth-quarter ad revenue was up nearly 5 percent.
For the full fiscal year, earnings fell 11 percent to $76.9 million, or $1.70 per share, from $86.1 million, or $1.91 per share last year. Excluding costs related to buying Pulitzer, Lee said annual earnings would have totaled $2.09 per share.
Full-year revenue climbed 26 percent to $860.9 million from $683.3 million. Wall Street had pegged the company to earn $2 per share on sales of $865 million.
Lee's shares rose 42 cents, or 1 percent, to close at $40.50 Monday on the New York Stock Exchange.
Q Comm
Orem-based Q Comm International Inc., a prepaid transaction processing company, said its third quarter revenue increased 173 percent to $12.8 million from $4.7 million in the third quarter of 2004.
The company's net loss in the third quarter of 2005 was $1.1 million, compared to a loss of $890,000 in the third quarter of 2004.
Revenue was down sequentially from $13.3 million in the second quarter of 2005 and reflects a price change taken at the carrier level by one of Q Comm's most active providers. Specifically, this product contributed $2 million less revenue in the third quarter of 2005 than it had in the second quarter of 2005, after adjusting its pricing downward.
Q Comm stock rose 17 cents, or 5.2 percent, to close at $3.42 per share Monday. During the past year, the price has ranged from $2 to $5.95.
TenFold
TenFold Corp. reported revenues of $1.5 million and a net loss of $341,000 for the third quarter of 2005, compared to $1.8 million in revenues and a net loss of $2 million in the third quarter of 2004.
The Salt Lake-based technology company said in August it completed a $1 million license transaction to DevonWay.
Nancy Harvey, TenFold's chief executive officer, said the company's cash position remains "fragile and has been an impediment to closing business in many accounts."
Harvey said the company must raise new capital from operations or a financing or it will exhaust existing cash balances in the fourth quarter.
TenFold stock closed unchanged Monday at 35 cents per share. During the past year, the price has ranged from 30 cents to $1.17.
Contributing: The Associated Press