United-Guardian Reports Strong 2nd Quarter and 6-Month Results
09 August 2017 - 4:16PM
United-Guardian, Inc. (NASDAQ:UG) reported today that sales for the
second quarter of 2017 increased by 76% compared with the same
period last year, growing from $2,215,952 to $3,891,656. As a
result, net income for the quarter increased 172% from $405,381
($0.09 per share) to $1,104,149 ($0.24 per share). For the
six-month period ended June 30, 2017, sales increased by 49% and
net income increased by 87%, resulting in earnings per share of
$0.38 compared with $0.20 for the comparable 6-month period in
2016.
Ken Globus, President of United-Guardian,
stated, "As a result of the resumption of shipments of one of our
personal care products to China, as well as an increase in sales of
our new single-dose form of Renacidin® Irrigation, our most
important pharmaceutical product, we were able to significantly
increase our sales and earnings for the second quarter of this year
compared with the same period last year. Overall, sales of our
personal care products increased by 131% compared with last year’s
second quarter, and by 82% when compared with the first six months
of 2016. In addition, pharmaceutical sales increased by 40% for the
second quarter of 2017 compared with last year’s second quarter,
and by 46% for the first six months of 2017 compared with the same
period last year. We remain optimistic that we will continue to see
strong sales of both of these product lines as the year
progresses.”
United-Guardian is a manufacturer of cosmetic
ingredients, personal and health care products, pharmaceuticals,
and specialty industrial products.
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, 2017 and 2016 |
|
|
THREE MONTHS ENDED JUNE 30, |
|
|
SIX MONTHS ENDED JUNE
30, |
|
|
2017 |
|
|
2016 |
|
|
|
2017 |
|
|
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
sales |
$ |
3,891,656 |
|
$ |
2,215,952 |
|
|
$
|
6,764,379 |
|
$ |
4,546,529 |
|
Sales
rebates and allowances |
|
(116,905 |
) |
|
(76,787 |
) |
|
|
(203,240 |
) |
|
(144,788 |
) |
Net Sales |
|
3,774,751 |
|
|
2,139,165 |
|
|
|
6,561,139 |
|
|
4,401,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Costs and
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
sales |
|
1,667,113 |
|
|
1,007,666 |
|
|
|
2,931,209 |
|
|
1,905,391 |
|
Operating
expenses |
|
418,605 |
|
|
465,329 |
|
|
|
882,085 |
|
|
932,885 |
|
Research
and development |
|
158,275 |
|
|
157,895 |
|
|
|
348,004 |
|
|
335,461 |
|
Total costs and expenses |
|
2,243,993 |
|
|
1,630,890 |
|
|
|
4,161,298 |
|
|
3,173,737 |
|
Income from operations |
|
1,530,758 |
|
|
508,275 |
|
|
|
2,399,841 |
|
|
1,228,004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income |
|
72,796 |
|
|
82,906 |
|
|
|
125,668 |
|
|
126,218 |
|
Income before provision for income
taxes |
|
1,603,554 |
|
|
591,181 |
|
|
|
2,525,509 |
|
|
1,354,222 |
|
Provision for income taxes |
|
499,405 |
|
|
185,800 |
|
|
|
786,925 |
|
|
423,750 |
|
Net Income |
$ |
1,104,149 |
|
$ |
405,381 |
|
|
$
|
1,738,584 |
|
$ |
930,472 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per
common share (Basic and
Diluted) |
$ |
0.24 |
|
$ |
.09 |
|
|
$
|
0.38 |
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
United Guardian (NASDAQ:UG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
United Guardian (NASDAQ:UG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024