Utah Medical Products Inc - UTMD STOCK NEWS

Utah Medical Products (NASDAQ:UTMD) reported weaker Q3 and 9M 2024 revenues but improved bottom-line performance compared to projections. Q3 worldwide sales declined 20% to $10,005, with domestic sales down 21.7% and international sales down 17.6%. The decline was primarily driven by lower sales to PendoTECH ($1,704 lower in Q3) and reduced Filshie Clip System sales. Despite revenue challenges, profit margins remained relatively stable, with Q3 2024 gross profit margin at 58.0% versus 58.8% in Q3 2023. The company's balance sheet remained strong despite paying $3,222 in dividends and using $13,259 for share repurchases. Management now expects total 2024 consolidated sales to decline 18-19% compared to 2023.

Utah Medical Products, Inc. (Nasdaq: UTMD) has announced a quarterly cash dividend of $0.30 per share of common stock. This represents a 1.7% increase compared to the dividend declared in the same quarter of the previous year. The dividend will be payable on October 4, 2024, to stockholders of record at the close of business on September 20, 2024.

UTMD specializes in developing, manufacturing, and marketing a wide range of disposable and reusable specialty medical devices, with a particular focus on healthcare for women and their babies. The company's products are recognized by clinicians in over 100 countries worldwide as the standard for achieving optimal long-term patient outcomes.

Utah Medical Products (Nasdaq: UTMD) reported a substantial decline in revenues for 2Q and 1H 2024 compared to the same periods in 2023. 2Q 2024 revenues were $2,466 (19.2%) lower, and 1H 2024 revenues were $3,646 (14.4%) lower. Major contributors to the decline include reduced sales in three categories: PendoTech OEM, China BPM Distributor, and Filshie Clip System.

Despite the revenue drop, UTMD maintained similar profit margins: Gross Profit Margin remained at 60.1% for 2Q 2024. However, Operating Income and Net Income declined by 22% and 18% respectively for 2Q 2024.

The balance sheet remains strong with $89.2 million in cash and no debt. The company paid $2.2 million in dividends and repurchased $9.4 million of its common stock during 1H 2024. UTMD expects a similar magnitude of revenue decline in the remaining quarters of 2024.

Utah Medical Products, Inc. (NASDAQ: UTMD) announced a 1.7% increase in their quarterly cash dividend to thirty cents ($.30) per share of common stock. The dividend will be payable on July 5, 2024, to stockholders of record as of June 14, 2024. The company specializes in health care products for women and babies, with a global presence in over a hundred countries.

Utah Medical Products, Inc. reported financial performance for the first quarter of 2024, showing a decrease in revenues, gross profit, operating income, net income, and earnings per share compared to the same period in 2023. Despite lower sales both domestically and internationally, the company managed to maintain a strong balance sheet with no debt, ending with $93.8 million in cash and investments. The decline in gross profit was attributed to manufacturing overhead costs not decreasing proportionately to the sales decline, although the gross profit margin was higher than expected due to a favorable product mix and improved labor productivity.

Utah Medical Products, Inc. (UTMD) has announced a 1.7% increase in its quarterly cash dividend to thirty cents per share of common stock. The dividend is payable on April 3, 2024, to stockholders of record at the close of business on March 15, 2024. The company specializes in health care for women and babies, manufacturing and marketing disposable and reusable specialty medical devices recognized globally.

Utah Medical Products, Inc. (UTMD) achieved financial results for the full year of 2023 consistent with management’s beginning of year projections. Revenues were 4% lower, with net income and earnings per share 1% higher than in 2022. Operating income, income before tax, and gross profit margins were down in 2023 compared to 2022. However, net income and earnings per share margins were higher in 2023, despite lower consolidated worldwide sales. UTMD's balance sheet remained strong, with cash and investments of $92.9 million on December 31, 2023.

Utah Medical Products, Inc. (Nasdaq:UTMD) has announced a quarterly cash dividend of $0.30 per share of common stock, payable on January 3, 2024. This represents a 1.7% increase over the previous dividend. Utah Medical Products is a leading company in the healthcare industry, specializing in medical devices for women and babies. They develop, manufacture, and market disposable and reusable specialty medical devices used by clinicians in over a hundred countries.

Utah Medical Products, Inc. achieved financial results for 9M 2023 consistent with projections. Revenues decreased by 3% in 3Q 2023 compared to 3Q 2022. Gross profit decreased by 10% and operating income decreased by 23% in 3Q 2023. Net income increased by 4% in 9M 2023. The company's cash balance increased by $3.62 per outstanding share. Domestic sales were lower, while international sales were higher.