United-Guardian Reports Record Sales and Earnings
24 März 2010 - 2:00PM
United-Guardian, Inc. (Nasdaq:UG) reported today that sales and
earnings for FY-2009 both reached record levels. Sales for the year
were up 8% from $12,292,147 in 2008 to $13,276,984 in 2009, and net
income increased 23% from $3,162,931 ($0.64 per share) to
$3,878,963 ($0.78 per share).
Ken Globus, President of United-Guardian, stated, "We are very
happy to report that we had another excellent year in 2009, with
both sales and earnings reaching new highs. We were especially
pleased to be able to reach these record levels despite the
difficult economic climate of this past year. The continuing
success of our joint marketing efforts with our global marketing
partners, as well as our efforts to keep both our raw material and
administrative costs down, were some of the reasons for our very
successful year. We have also seen significant increases in the
growth of our medical products line over the past year, and expect
to continue to see sales increases both in that line as well as our
cosmetic ingredient line. Based on first quarter sales to date we
are hopeful that this trend will continue as the global economy
continues to improve and we continue to expand our line of
products."
United-Guardian is a manufacturer of cosmetic ingredients,
personal and health care products, pharmaceuticals, and specialty
industrial products.
The United-Guardian, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6000
NOTE: This press release contains both historical and
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements about
the company's expectations or beliefs concerning future events,
such as financial performance, business prospects, and similar
matters, are being made in reliance upon the "safe harbor"
provisions of that Act. Such statements are subject to a variety of
factors that could cause Registrant's actual results or performance
to differ materially from the anticipated results or performance
expressed or implied by such forward-looking statements. For
further information about the risks and uncertainties that may
affect the company's business please refer to the company's reports
and filings with the Securities and Exchange Commission.
United-Guardian, Inc.
RESULTS FOR THE YEARS ENDED
DECEMBER 31, 2009 AND DECEMBER 31, 2008
INCOME STATEMENT DATA
Years ended December 31,
2009
2008
Net sales
$13,276,984
$12,292,147
Costs and expenses
Cost of sales
5,324,257
5,411,404
Operating expenses
2,608,478
2,698,671
7,932,735
8,110,075
Income from operations
5,344,249
4,182,072
Other income (expense)
Investment income
395,261
492,443
Gain (loss) on sale of assets
420
(7,763)
395,681
484,680
Income from operations before income taxes
5,739,930
4,666,752
Provision for income taxes
1,860,967
1,503,821
Net income
$3,878,963
$3,162,931
Earnings per common share (basic and diluted)
$.78
$.64
Weighted average shares (basic and diluted)
4,946,439
4,946,439
BALANCE SHEET DATA
December 31
2009
2008
Current assets
$17,656,565
$15,785,392
Certificates of deposit, due 2010
--
271,976
Property, plant, and equipment (net)
946,711
951,979
Other assets
113,016
274,276
Total assets
$18,716,292
$17,283,623
Current liabilities
$2,920,674
$2,548,712
Deferred income taxes
138,007
28,616
Total liabilities
$3,058,681
$2,577,328
Stockholders' equity
$15,657,611
$14,706,295
Total liabilities and stockholders' equity
$18,716,292
$17,283,623
CONTACT: United-Guardian, Inc.
Robert S. Rubinger
(631) 273-0900
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