United-Guardian Reports Strong First Quarter Earnings
10 Mai 2011 - 3:00PM
United-Guardian, Inc. (Nasdaq:UG) reported today that earnings for
the first quarter of 2011 were the highest ever for the Company's
first quarter, increasing from $0.22 per share in the 1st quarter
of 2010 to $0.25 in 2011. Revenue was up slightly to over $3.6
million, and would have been substantially higher had it not been
for the limited availability of one of the Company's primary
pharmaceutical products.
Ken Globus, President of United-Guardian, stated, "We are very
pleased that we were able to attain this level of revenue and
earnings despite the fact that our most important pharmaceutical
product, Renacidin® Irrigation, was in very short supply for the
entire quarter due to production problems experienced by our
outside supplier. Fortunately, the drop in Renacidin sales was
offset by very strong sales of our cosmetic ingredients line, which
enabled us to attain these strong sales and earnings. Now
that the production problems have been resolved we expect Renacidin
sales to rebound strongly in the second quarter."
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 our 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.
|
RESULTS FOR THE FIRST
QUARTER ENDED MARCH 31, 2011 and MARCH 31, 2010 |
|
|
THREE MONTHS
ENDED MARCH 31, |
|
2011 |
2010 |
|
|
|
Net sales |
$3,642,049 |
$3,576,915 |
Costs and expenses |
1,981,736 |
2,032,616 |
Income from
operations |
1,660,313 |
1,544,299 |
Other income |
66,070 |
92,270 |
Income before income
taxes |
1,726,383 |
1,636,569 |
Provision for income taxes |
560,200 |
540,725 |
Net Income |
$1,166,183 |
$1,095,844 |
Earnings per common share (basic
and diluted): |
$0.25 |
$0.22 |
Weighted average shares – basic and
diluted |
$4,596,439 |
$4,946,439 |
** Additional financial information can be found at the
company's web site at www.u-g.com.**
CONTACT: Robert S. Rubinger
Public Relations
(631) 273-0900
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