$UTMD
Utah Medical Products Inc

2024 Q2 Form 10-Q Financial Statement

#000181188424000015 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $10.40M $11.34M $12.52M
YoY Change -19.17% -9.42% 1.6%
Cost Of Revenue $4.147M $4.574M $4.677M
YoY Change -19.11% -2.2% -2.36%
Gross Profit $6.253M $6.766M $7.843M
YoY Change -19.2% -13.73% 4.12%
Gross Profit Margin 60.13% 59.66% 62.64%
Selling, General & Admin $2.560M $2.617M $3.260M
YoY Change -19.52% -19.72% 12.88%
% of Gross Profit 40.94% 38.68% 41.57%
Research & Development $255.0K $266.0K $144.0K
YoY Change 91.73% 84.72% 17.07%
% of Gross Profit 4.08% 3.93% 1.84%
Depreciation & Amortization $681.0K $156.0K $155.0K
YoY Change -61.44% 0.65% -91.36%
% of Gross Profit 10.89% 2.31% 1.98%
Operating Expenses $2.815M $2.883M $3.404M
YoY Change -15.06% -15.31% 13.05%
Operating Profit $3.438M $3.883M $4.439M
YoY Change -22.31% -12.53% -1.84%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $773.0K $915.0K $680.0K
YoY Change 3.48% 34.56% 8400.0%
Pretax Income $4.211M $4.798M $5.119M
YoY Change -18.58% -6.27% 13.0%
Income Tax $758.0K $842.0K $905.0K
% Of Pretax Income 18.0% 17.55% 17.68%
Net Earnings $3.453M $3.956M $4.214M
YoY Change -17.79% -6.12% 19.24%
Net Earnings / Revenue 33.2% 34.89% 33.66%
Basic Earnings Per Share $0.98 $1.09 $1.16
Diluted Earnings Per Share $0.98 $1.09 $1.16
COMMON SHARES
Basic Shares Outstanding 3.528M shares 3.589M shares 3.628M shares
Diluted Shares Outstanding 3.532M shares 3.618M shares 3.636M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $89.22M $93.81M $80.91M
YoY Change 5.44% 15.94% 22.83%
Cash & Equivalents $89.22M $93.81M $80.91M
Short-Term Investments
Other Short-Term Assets $377.0K $510.0K $442.0K
YoY Change -19.27% 15.38% -15.0%
Inventory $9.058M $9.240M $9.940M
Prepaid Expenses
Receivables $3.668M $3.591M $3.818M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $102.3M $107.1M $95.11M
YoY Change 3.56% 12.66% 19.67%
LONG-TERM ASSETS
Property, Plant & Equipment $10.19M $10.27M $10.24M
YoY Change -3.29% 0.24% -6.87%
Goodwill $13.64M $13.64M $13.50M
YoY Change -0.26% 1.01%
Intangibles $3.876M $4.388M $8.915M
YoY Change -47.98% -50.78%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $27.71M $28.29M $32.66M
YoY Change -12.5% -13.37% -19.01%
TOTAL ASSETS
Total Short-Term Assets $102.3M $107.1M $95.11M
Total Long-Term Assets $27.71M $28.29M $32.66M
Total Assets $130.0M $135.4M $127.8M
YoY Change -0.34% 6.0% 6.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $834.0K $998.0K $1.028M
YoY Change -37.57% -2.92% -29.3%
Accrued Expenses $3.105M $4.476M $5.046M
YoY Change -18.46% -11.3% 8.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.939M $5.474M $6.074M
YoY Change -23.43% -9.88% -0.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $698.0K $698.0K $1.256M
YoY Change -44.47% -44.43% -46.05%
Total Long-Term Liabilities $698.0K $698.0K $1.256M
YoY Change -44.47% -44.43% -46.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.939M $5.474M $6.074M
Total Long-Term Liabilities $698.0K $698.0K $1.256M
Total Liabilities $5.980M $7.699M $9.752M
YoY Change -31.37% -21.05% -8.3%
SHAREHOLDERS EQUITY
Retained Earnings $135.3M $139.0M $129.2M
YoY Change 2.31% 7.62%
Common Stock $35.00K $36.00K $358.0K
YoY Change -92.52% -89.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $124.1M $127.7M $118.0M
YoY Change
Total Liabilities & Shareholders Equity $130.0M $135.4M $127.8M
YoY Change -0.34% 6.0% 6.65%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $3.453M $3.956M $4.214M
YoY Change -17.79% -6.12% 19.24%
Depreciation, Depletion And Amortization $681.0K $156.0K $155.0K
YoY Change -61.44% 0.65% -91.36%
Cash From Operating Activities $2.762M $5.276M $6.915M
YoY Change -43.78% -23.7% 37.04%
INVESTING ACTIVITIES
Capital Expenditures $115.0K $22.00K $43.00K
YoY Change -64.06% -48.84% -118.14%
Acquisitions
YoY Change
Other Investing Activities $0.00 $27.00K
YoY Change
Cash From Investing Activities -$115.0K $5.000K -$43.00K
YoY Change -64.06% -111.63% -81.86%
FINANCING ACTIVITIES
Cash Dividend Paid $1.089M $1.070M
YoY Change 1.78%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.190M -$3.983M -$1.049M
YoY Change 611.88% 279.69% -5621.05%
NET CHANGE
Cash From Operating Activities 2.762M $5.276M $6.915M
Cash From Investing Activities -115.0K $5.000K -$43.00K
Cash From Financing Activities -7.190M -$3.983M -$1.049M
Net Change In Cash -4.543M $940.0K $5.860M
YoY Change -226.79% -83.96% 21.38%
FREE CASH FLOW
Cash From Operating Activities $2.762M $5.276M $6.915M
Capital Expenditures $115.0K $22.00K $43.00K
Free Cash Flow $2.647M $5.254M $6.872M
YoY Change -42.37% -23.54% 30.08%

Facts In Submission

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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5860000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92868000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
75052000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93808000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80912000 usd
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
105000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
129000 usd
CY2024Q1 us-gaap Interest Paid
InterestPaid
0 usd
CY2023Q1 us-gaap Interest Paid
InterestPaid
0 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
128313000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
96000 usd
CY2024Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
79000 usd
CY2024Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
-2990000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-631000 usd
CY2024Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1081000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
3956000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
127742000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
114254000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
21000 usd
CY2023Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
50000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
549000 usd
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1070000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
4214000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
118018000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1634000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1685000 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1302000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1503000 usd
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
6304000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
6394000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
9240000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
9582000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
79000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
50000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
0 usd
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
0 usd
CY2024Q2 us-gaap Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
67.57
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11340000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
3956000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
4214000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3618000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3628000 shares
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
8000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3618000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3636000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.09
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.16
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.09
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.16
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
63985 shares
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
4323000 usd

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0001811884-24-000015.txt Edgar Link pending
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