United-Guardian Reports Strong Second Quarter Earnings
09 August 2012 - 3:00PM
United-Guardian, Inc. (Nasdaq:UG) today reported continued strong
earnings in both the second quarter and first half of 2012, with
earnings for the first half of the year reaching a new high of
$0.53 per share. The company was able to achieve this despite sales
being down slightly (1.0%) compared with the first half of 2011 due
to third-party production issues that impacted the availability of
one of the company's pharmaceutical products.
Ken Globus, President of United-Guardian, stated, "Although
production delays resulted in lower sales of our Renacidin®
Irrigation during the second quarter, that was partially offset by
increases in sales of our personal care and medical products, as
well as by significant reductions in some of our operating expenses
and overhead costs. We are currently in discussions with a
potential new supplier for our Renacidin® Irrigation, which we hope
will not only eliminate the production problems we have been having
with our current supplier, but will also enable us to bring out a
new, more convenient dosage size that we believe could
significantly increase our sales of that product. We are also
excited about the introduction of the first of what we hope will be
several new products in our new Lubrajel 'Natural' line of
water-based moisturizing products. We believe that this new line of
products has the potential to open up new markets and customers for
our personal care 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 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 THREE
AND SIX MONTHS ENDED |
JUNE 30, 2012 and JUNE
30, 2011 |
(UNAUDITED) |
|
|
|
|
|
|
THREE MONTHS ENDED JUNE
30, |
SIX MONTHS ENDED JUNE
30, |
|
2012 |
2011 |
2012 |
2011 |
|
|
|
|
|
Net sales |
$ 3,735,100 |
$ 4,060,299 |
$ 7,623,792 |
$ 7,702,348 |
|
|
|
|
|
Costs and expenses |
2,013,373 |
2,329,076 |
4,156,076 |
4,310,812 |
|
|
|
|
|
Income from
operations |
1,721,727 |
1,731,223 |
3,467,716 |
3,391,536 |
|
|
|
|
|
Other income |
41,757 |
83,817 |
114,098 |
149,887 |
|
|
|
|
|
Income before
income taxes |
1,763,484 |
1,815,040 |
3,581,814 |
3,541,423 |
|
|
|
|
|
Provision for income taxes |
570,400 |
590,400 |
1,160,100 |
1,150,600 |
|
|
|
|
|
Net
Income |
$ 1,193,084 |
$ 1,224,640 |
$ 2,421,714 |
$ 2,390,823 |
|
|
|
|
|
Earnings per common share (Basic and
Diluted) |
$ 0.26 |
$ 0.27 |
$ 0.53 |
$ 0.52 |
|
|
|
|
|
Weighted average shares – basic and
diluted |
4,596,439 |
4,596,439 |
4,596,439 |
4,596,439 |
** 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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