Welcome to our dedicated page for Utah Med Prods news (Ticker: UTMD), a resource for investors and traders seeking the latest updates and insights on Utah Med Prods stock.
Utah Medical Products Inc. (UTMD) delivers innovative medical devices for critical healthcare needs, specializing in women's health and neonatal care. This news hub provides investors and healthcare professionals with timely updates on corporate developments, regulatory milestones, and clinical advancements.
Access consolidated information on quarterly earnings, product approvals, and strategic partnerships that shape UTMD's leadership in medical technology. Our repository includes press releases detailing innovations in electrosurgical tools, neonatal monitoring systems, and disposable medical devices used globally.
Key updates cover FDA clearances, manufacturing expansions, and clinical study results impacting healthcare delivery. Bookmark this page for streamlined tracking of UTMD's progress in developing devices that meet rigorous hospital standards across 100+ countries.
Utah Medical Products reported its 1Q 2023 financial results, showing a 1.6% increase in revenues to $12,520k compared to the same period in 2022. The gross profit rose by 4.1% to $7,843k. However, operating income fell 1.9% to $4,439k, indicating rising litigation expenses. Net income increased 19.2%, reaching $4,214k, with earnings per share up by 20.2% at $1.159. The gross profit margin improved to 62.6% from 61.1%. International sales surged 22.9%, while domestic sales dropped 10%. As of March 31, 2023, cash and investments totaled $80.9 million, up from $75.1 million at year-end 2022.
Utah Medical Products, Inc. (NASDAQ:UTMD) has announced a quarterly cash dividend of $0.295 per share, payable on April 4, 2023, to shareholders recorded by close of business on March 17, 2023. This marks a 1.7% increase compared to the same period last year. The company specializes in medical devices for women and babies, with products recognized globally for optimal patient outcomes. For more details on Utah Medical Products, Inc., visit www.utahmed.com.
Utah Medical Products reported a strong financial performance for 2022, with revenues increasing by 7% year-over-year, and net income rising by 11%. Despite a stronger USD impacting foreign currency sales, constant currency sales showed a 10% growth. Key metrics revealed a 3% increase in gross profit and earnings per share up by 12%. Operating income faced a slight decline of 1% due to higher legal costs. The company finished the year with $75.1 million in cash and investments, marking a 23% increase from 2021. Overall, UTMD has strengthened its balance sheet while dealing with inflationary pressures and supply chain challenges.
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