UTMD Reports Financial Performance for Third Calendar Quarter and Nine Months 2026
Quarterly profit rose as combined litigation and intangible-asset amortization expenses fell, despite continued sales declines.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Utah Medical Products (UTMD) reported third-quarter revenue of $8.621 million, with earnings rising despite lower sales than a year earlier. Revenue fell 12.1%, while net income increased 6% and earnings per share rose 7%. Operating margin improved to 32.4% from 26.6%, helped by lower combined litigation and intangible-asset amortization expenses.
Nine-month revenue was $25.873 million, down 12%, while net income fell 7% and earnings per share declined 5%. Lost customers and lower Filshie device sales weighed on revenue. Femcare acquired Orion Medical Supplies at the end of August for $5.0 million including fees and duties; Orion added $619,000 in quarterly sales. Cash and investments stood at $85.2 million on September 30, with no debt. The company projects a full-year sales decline close to 7%, with continued uncertainty.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter net income rose 6% and earnings per share increased 7% versus 2025.
- Moderate pointThird-quarter operating income rose 7%; operating margin increased to 32.4% from 26.6%.
- Moderate pointOrion Medical Supplies acquisition completed at August-end and added $619,000 in third-quarter sales.
- Minor pointThird-quarter pretax income rose 3%; pretax margin increased to 39.5% from 33.7%.
- Minor pointCash and investments of $85.2 million supported a debt-free balance sheet at September 30.
10 minor points
- Minor pointNine-month gross margin improved to 57.5% from 56.8%, reflecting a more favorable product mix.
- Minor pointCombined litigation and intangible-asset amortization expenses fell to $228,000 in the quarter from $920,000.
- Minor pointNine-month combined litigation and intangible-asset amortization expenses were $925,000 lower than in 2025.
- Minor pointEstimated average income tax provision rate was two percentage points lower for the nine-month period.
- Minor pointNew biopharma customers generated $116,000 in quarterly sales and $327,000 over nine months.
- Minor pointNew China distributor generated $195,000 in third-quarter blood pressure monitoring kit sales.
- Minor pointDomestic original-equipment customer sales increased $41,000 to $677,000 in the third quarter.
- Minor pointForeign exchange increased nine-month consolidated sales by $170,000 versus unchanged exchange rates.
- Minor pointShare repurchases totaled $0.9 million during the first nine months of 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter replacement sales are expected to exceed former customers' sales in both comparable 2025 and 2024 quarters.
Negative
- Moderate pointThird-quarter revenue fell 12.1% to $8.621 million from $9.812 million.
- Moderate pointNine-month net income declined 7% and earnings per share fell 5% versus 2025.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Full-year 2026 sales are projected to decline close to 7%, with continued uncertainty.
- Moderate pointWorldwide Filshie sales fell $805,000, or 32.7%, quarterly and $1.194 million, or 15.7%, over nine months.
- Moderate pointNine-month neonatal intensive care device sales declined $1.105 million, or 17.7%, worldwide.
- Moderate pointThird-quarter gross profit fell 13.6%; gross margin declined to 56.1% from 57.1%.
- Moderate pointOrion acquisition spending totaled $5.0 million, including legal fees and duties. 2.1% of market cap
11 minor points
- Minor pointNine-month revenue fell 12% to $25.873 million.
- Minor pointNine-month operating income declined 11%, while pretax income fell 10%.
- Minor pointPendoTECH and the former China distributor generated no 2026 sales after contributing in both comparable 2025 periods.
- Minor pointDomestic sales fell 16.1% to $4.917 million quarterly and 9.6% to $15.644 million over nine months.
- Minor pointSales outside the United States fell 6.3% quarterly and 15.9% over nine months.
- Minor pointNine-month gross profit fell 11.1%, a decrease of $1.857 million.
- Minor pointNon-operating income fell $92,000 quarterly and $183,000 over nine months because of lower deposit interest rates.
- Minor pointUncollectible China distributor revenue of $395,000 was written off in third-quarter general and administrative expenses.
- Minor pointNew biopharma sales growth has been slower than the company expected.
- Minor pointPlant and equipment capital expenditures totaled $0.5 million during the first nine months.
- Minor pointForeign exchange reduced third-quarter consolidated sales by $14,000 versus unchanged exchange rates.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SALT LAKE CITY, UT / ACCESS Newswire / October 22, 2026 / Utah Medical Products, Inc. (NASDAQ:UTMD) reports third quarter (3Q) and first nine months (9M) of calendar year 2026 financial results that include changes from the prior year's same period results.
Currencies in this release are denoted as $ or USD = U.S. Dollars; AUD = Australia Dollars; £ or GBP = UK Pound Sterling; C$ or CAD = Canadian Dollars; and € or EUR = Euros. Currency amounts throughout this report are in thousands, except per share amounts and where noted.
Overview of Results
The following is a summary comparison of 3Q and 9M of calendar 2026 with 3Q and 9M 2025 income statement measures:
2026 to 2025 Comparison | 3Q (July-September) | 9M (January-September) | ||||||
Revenues (Sales): | (12 | %) | (12 | %) | ||||
Gross Profit (GP): | (14 | %) | (11 | %) | ||||
Operating Income (OI): | + 7 | % | (11 | %) | ||||
| Income Before Tax (EBT): | + 3 | % | (10 | %) | ||||
Net Income (NI): | + 6 | % | ( 7 | %) | ||||
Earnings Per Share (EPS): | + 7 | % | ( 5 | %) | ||||
In brief, consolidated total 3Q 2026 revenues were
There was also an accelerated decline in worldwide (WW) sales of the Filshie Clip System (Filshie) in 3Q 2026, which were
Changes in period-to-period foreign currency exchange rates had less than a one percentage point impact on USD sales: 3Q 2026 sales were
UTMD's profit margins compared to those of the prior year's same periods follow:
| 3Q 2026 (Jul - Sep) | 3Q 2025 (Jul - Sep) | 9M 2026 (Jan - Sep) | 9M 2025 (Jan - Sep) | |||||||||||||
Gross Profit Margin (GP/ sales): | 56.10 | % | 57.10 | % | 57.50 | % | 56.80 | % | ||||||||
Operating Income Margin (OI/ sales): | 32.40 | % | 26.60 | % | 31.00 | % | 30.40 | % | ||||||||
Income B4 Tax Margin (EBT/ sales): | 39.50 | % | 33.70 | % | 38.10 | % | 37.30 | % | ||||||||
Net Income Margin (NI/ sales): | 32.30 | % | 26.80 | % | 31.20 | % | 29.60 | % | ||||||||
UTMD's Gross Profit (GP) margin in 3Q 2026 was
UTMD's September 30, 2026 Balance Sheet continued strong, with no debt. Ending Cash and Investments were slightly less at
Revenues (sales) -3Q 2026
Total consolidated 3Q 2026 UTMD worldwide (WW) sales in USD terms were
Consistent with UTMD's SEC 10-K Report at the beginning of the year, 1) sales of biopharma pressure monitoring devices and accessories to UTMD's previously largest OEM customer, PendoTECH, were zero in 3Q 2026, which were
Domestic sales are invoiced in USD and obviously not subject to foreign currency conversion (FX) rate fluctuations. The components of domestic sales include 1) "direct non-Filshie device sales" of UTMD's medical devices to user facilities (and med/surg stocking distributors for hospitals), 2) "OEM sales" of components and other products manufactured by UTMD for other medical device and non-medical device companies, and 3) "domestic Filshie device sales". UTMD separates domestic Filshie device sales from other medical device sales direct to medical facilities because UTMD is simply a distributor for Femcare in the U.S.
In the aggregate, 3Q 2026 domestic sales were
OUS sales in 3Q 2026 were
The foreign currency exchange (FX) impact, the conversion to USD effect of difference in FX rates in 3Q 2026 compared to 3Q 2025, reduced 3Q 2026 sales by
| 3Q 2026 | 3Q 2025 | Change | ||||||||||
GBP | 1.3427 | 1.3485 | (0.4 | %) | ||||||||
EUR | 1.1514 | 1.1748 | (2.0 | %) | ||||||||
AUD | 0.7051 | 0.6548 | +7.7 | % | ||||||||
CAD | 0.7154 | 0.7256 | (1.4 | %) | ||||||||
The
Sales -9M 2026
Total consolidated 9M 2026 UTMD worldwide (WW) sales in USD terms were
Sales of biopharma pressure monitoring devices and accessories to UTMD's previously largest OEM customer, PendoTECH, were zero in 9M 2026, compared to
Domestic sales are invoiced in USD and obviously not subject to foreign currency conversion (FX) rate fluctuations. The components of domestic sales include 1) "direct non-Filshie device sales" of UTMD's medical devices to user facilities (and med/surg stocking distributors for hospitals), 2) "OEM sales" of components and other products manufactured by UTMD for other medical device and non-medical device companies, and 3) "domestic Filshie device sales". UTMD separates domestic Filshie device sales from other medical device sales direct to medical facilities because UTMD is simply a distributor for Femcare in the U.S.
In the aggregate, 9M 2026 domestic sales were
OUS sales in 9M 2026 were
The portion of OUS sales invoiced in foreign currencies in USD terms was
| 9M 2026 | 9M 2025 | Change | ||||||||||||
| GBP | 1.3444 | 1.3144 | + 2.3 | % | ||||||||||
| EUR | 1.1577 | 1.1333 | + 2.2 | % | ||||||||||
| AUD | 0.7046 | 0.6396 | +10.1 | % | ||||||||||
| CAD | 0.7226 | 0.7144 | + 1.1 | % | ||||||||||
The
In 4Q 2025 and 4Q 2024, the two former customers with zero combined sales in 2026 were just
Gross Profit (GP)
GP results from subtracting the cost of goods sold (CGS), comprised of costs of production including direct labor, manufacturing engineering, depreciation of equipment, maintenance and repairs, quality assurance including regulatory compliance, and purchasing including freight for receiving materials from suppliers, from revenues. CGS is divided into three categories: direct labor, raw materials and manufacturing overhead (MOH). Direct labor and raw materials are predominantly variable costs, i.e. vary directly with revenues. MOH contains many fixed costs consistent with the Company's infrastructure, for example, supervision, quality assurance and engineering personnel, and depreciation of fixed assets.
UTMD's 3Q 2026 Gross Profit margin (GPM) was lower than in 3Q 2025 because WW trade shipments were lower while the Company retained the same previous labor and overhead staffing that it previously had in order to support the anticipated substantial new growth in biopharma control device manufacturing. UTMD Ltd in Ireland is also the manufacturer and supplier of the Filshie Clip System to all UTMD subsidiaries worldwide, so lower intercompany Filshie sales also contributed to the lower consolidated 3Q GPM. In contrast, UTMD's consolidated 9M 2026 GPM was higher than in 9M 2025, as expected, due to a more favorable product mix without
More specifically, 3Q 2026 GP was
Operating Income (OI)
OI results from subtracting Operating Expenses (OE) from GP. OE are comprised of Sales and Marketing (S&M) expenses, General and Administrative (G&A) expenses and Product Development (R&D) expenses.
The lower GPM in 3Q 2026 on
OI in 9M 2026 was
The following table summarizes OE in 3Q and 9M 2026 compared to the same periods in 2025 by OE category:
OE Category | 3Q 2026 | % of sales | 3Q 2025 | % of sales | 9M 2026 | % of sales | 9M 2025 | % of sales | ||||||||||||||||||||||||
S&M: | $ | 529 | 6.1 | $ | 516 | 5.3 | $ | 1,574 | 6.1 | $ | 1,540 | 5.2 | ||||||||||||||||||||
G&A: | 1,374 | 16.0 | 2,310 | 23.5 | 4,847 | 18.7 | 5,780 | 19.6 | ||||||||||||||||||||||||
R&D: | 142 | 1.6 | 167 | 1.7 | 450 | 1.8 | 457 | 1.6 | ||||||||||||||||||||||||
Total OE: | 2,045 | 23.7 | 2,993 | 30.5 | 6,871 | 26.6 | 7,777 | 26.4 | ||||||||||||||||||||||||
Consolidated S&M expenses as a percentage of sales were higher primarily due to lower sales. The impact of differences in FX rates on foreign subsidiary S&M expenses added
G&A expenses dominate UTMD's OE, largely because of expenses of U.S. Filshie litigation and the non-cash expenses from the amortization of Identifiable Intangible Assets (IIA) associated with the acquisition of the Filshie Clip System in 2011 which were fully-amortized as of 1Q 2026, and initial 3Q 2026 IIA amortization expense for the Orion acquisition.
A segmentation of USD-denominated G&A expenses follows:
G&A Exp Category | 3Q 2026 | % of sales | 3Q 2025 | % of sales | 9M 2026 | % of sales | 9M 2025 | % of sales | ||||||||||||||||||||||||
IIA Amort- UK: | $ | 25 | Orion | $ | 536 | 5.5 | $ | 483 | 1.9 | $ | 1,568 | 5.3 | ||||||||||||||||||||
Other- UK: | 411 | 176 | 814 | 555 | ||||||||||||||||||||||||||||
U.S. Litigation | 203 | 2.4 | 389 | 4 | 1,137 | 4.4 | 977 | 3.3 | ||||||||||||||||||||||||
Other- US: | 557 | 6.5 | 667 | 6.8 | 1,883 | 7.3 | 1,864 | 6.3 | ||||||||||||||||||||||||
IRE: | 91 | 96 | 281 | 268 | ||||||||||||||||||||||||||||
IRE- China B/D | - | 395 | 4 | 395 | 1.3 | |||||||||||||||||||||||||||
AUS: | 49 | 20 | 134 | 54 | ||||||||||||||||||||||||||||
CAN: | 38 | 31 | 115 | 100 | ||||||||||||||||||||||||||||
Total G&A: | 1,374 | 16 | 2,310 | 23.5 | 4,847 | 18.7 | 5,780 | 19.6 | ||||||||||||||||||||||||
Total consolidated G&A expenses in 3Q 2026 were
In 9M 2026, except for U.S. litigation expense, U.S. G&A expenses were about the same as in 9M 2025, but with lower sales, the U.S. G&A percentage of sales increased a full percentage point. The largest difference was
Regarding litigation expense looking forward, in two of the remaining four courts (out of nineteen), cases will apparently be going to trial in 2027. The other two remain waiting for decisions on summary judgment motions.
The differences in period-to-period R&D expenses were due to varying project costs and increases in salaries for the same number of people. Since all new product development work in 2026 was carried out in the U.S., there was no FX rate impact.
Stronger OUS currencies for 9M 2026 increased operating expenses (OE) by
Income Before Tax (EBT)
EBT results from subtracting net non‑operating expense (NOE) or adding net non-operating income (NOI) from or to, as applicable, OI. Consolidated 3Q 2026 EBT was
NOE/NOI includes the combination of 1) expenses from loan interest and bank fees; 2) expenses or income from losses or gains from remeasuring the value of EUR cash bank balances in the UK, and GBP cash balances in Ireland, in USD terms on September 30, 2026; and 3) income from rent of underutilized property, investment income and royalties received from licensing the Company's technology.
Starting in 2024 for UTMD, there has been an additional excise tax included in UTMD's NOE: a stock repurchase
Net NOI is NOI minus NOE. Net NOI in 3Q 2026 was
EBITDA is a non-US GAAP metric that measures profitability performance without factoring in effects of financing, accounting decisions regarding non-cash expenses, capital expenditures or tax environments. Management believes that this operating performance metric provides meaningful supplemental information to both management and investors and confirms UTMD's ongoing excellent financial operating performance, as well as its ability to sustain high level financial performance during a challenging time.
Excluding the noncash effects of depreciation, amortization of intangible assets and stock option expense, 3Q 2026 consolidated EBT excluding the remeasured bank balance currency gain or loss ("adjusted consolidated EBITDA") was
UTMD's non-US GAAP adjusted consolidated EBITDA is the sum of the elements in the following table, each element of which is a US GAAP number:
| 3Q 2026 | 3Q 2025 | 9M 2026 | 9M 2025 | |||||||||||||
EBT | $ | 3,401 | $ | 3,309 | $ | 9,870 | $ | 11,004 | ||||||||
Depreciation Expense | 217 | 209 | 638 | 614 | ||||||||||||
Femcare IIA Amortization Expense Orion IIA Amortization Expense | -25 | 536- | 45825 | 1,568- | ||||||||||||
Other Non-Cash Amortization Expense | 12 | 8 | 31 | 25 | ||||||||||||
Stock Option Compensation Expense Interest Expense | 77- | 95- | 269- | 262- | ||||||||||||
Remeasured Foreign Currency Balances | 3 | 13 | 12 | 20 | ||||||||||||
UTMD non-US GAAP EBITDA: | $ | 3,735 | $ | 4,170 | $ | 11,303 | $ | 13,493 |
Net Income (NI)
NI in 3Q 2026 of
NI in 9M 2026 of
The consolidated income tax provision rate varies as the mix in taxable income among U.S. and foreign subsidiaries with differing income tax rates differs from period to period. The basic corporate income tax rates in each of the sovereignties were the same as in the prior year.
Earnings per share (EPS)
Diluted EPS in 3Q 2026 were
Diluted shares were 3,180,343 in 3Q 2026 compared to 3,207,490 in 3Q 2025. Diluted shares were 3,182,943 in 9M 2026 compared to 3,254,196 in 9M 2025. The lower diluted shares in both periods of 2026 were the result of shares repurchased during 9M 2026. Because the average exercise price of employee options was higher than the ending market price of the stock in both 3Q 2026 and 3Q 2025, the number of shares added as a dilution factor in both 3Q 2026 and 3Q 2025 were zero. The same was true for both 9M 2026 and 9M 2025. The number of shares used for calculating EPS in both years was higher than period-ending outstanding shares because of a time-weighted calculation of average outstanding shares.
Outstanding shares at the end of 3Q 2026 were 3,175,006 compared to 3,186,221 at the end of calendar year 2025. The difference was due to 13,403 shares repurchased in 9M 2026, and 2,188 employee option exercises. Shares repurchased in 3Q 2026 were 10,000 at an average price of
The total number of outstanding unexercised employee and outside director options at September 30, 2026 was 106,285 at an average exercise price of
UTMD paid
UTMD's closing share price at the end of 3Q 2026 was
Balance Sheet.
At September 30, 2026 compared to the end of 2025, UTMD's cash and investments balance decreased only
Foreign currency exchange (FX) rates for Balance Sheet purposes are the applicable rates at the end of each reporting period. The FX rates from the applicable foreign currency to USD for assets and liabilities at the end of 3Q 2026 compared to the end of calendar year 2025 and the end of 3Q 2025 were as follows:
| 9-30-26 | 12-31-25 | Change | 9-30-25 | Change | ||||||||||||||||
GBP | 1.32659 | 1.34450 | (1.3 | %) | 1.34420 | (1.3 | %) | |||||||||||||
EUR | 1.13437 | 1.17344 | (3.3 | %) | 1.17331 | (3.3 | %) | |||||||||||||
AUD | 0.69506 | 0.66679 | 4.2 | % | 0.66127 | 5.1 | % | |||||||||||||
CAD | 0.70365 | 0.72914 | (3.5 | %) | 0.71789 | (2.0 | %) | |||||||||||||
Financial ratios as of September 30, 2026 which may be of interest to stockholders follow:
1) Current Ratio = 21.2
2) Days in Trade Receivables (based on 3Q 2026 sales activity) = 41
3) Average Inventory Turns (based on 3Q 2026 CGS) = 1.6
4) 2026 YTD ROE (before dividends) =
Investors are cautioned that this press release contains forward looking statements and that actual events may differ from those projected. Risk factors that could cause results to differ materially from those projected include global economic conditions, market acceptance of products, regulatory approvals of products, regulatory intervention in current operations, government intervention in healthcare and the economy in general such as tariffs, tax reforms, the Company's ability to efficiently manufacture, market and sell products, cybersecurity and foreign currency exchange rates, among other factors that have been and will be outlined in UTMD's public disclosure filings with the SEC.
Utah Medical Products, Inc., with particular interest in health care for women and their babies, develops, manufactures and markets a broad range of disposable and reusable specialty medical devices recognized by clinicians in over one hundred countries around the world as the standard for obtaining optimal long-term outcomes for their patients. For more information about Utah Medical Products, Inc., visit UTMD's website at www.utahmed.com.
Utah Medical Products, Inc.
INCOME STATEMENT, Third Quarter (three months ended September 30)
(in thousands except earnings per share):
| 3Q 2026 | 3Q 2025 | Percent Change | ||||||||||
Net Sales | $ | 8,621 | $ | 9,812 | (12.1 | %) | ||||||
Gross Profit | 4,840 | 5,604 | (13.6 | %) | ||||||||
Operating Income | 2,795 | 2,611 | +7.0 | % | ||||||||
Income Before Tax | 3,401 | 3,309 | +2.8 | % | ||||||||
Net Income (US GAAP) | 2,787 | 2,631 | +5.9 | % | ||||||||
Earnings Per Share (US GAAP) | $ | 0.876 | $ | 0.820 | +6.8 | % | ||||||
Shares Outstanding (diluted) | 3,180 | 3,207 | ||||||||||
INCOME STATEMENT, First Nine Months (nine months ended September 30)
(in thousands except earnings per share):
| 9M 2026 | 9M 2025 | Percent Change | ||||||||||
Net Sales | $ | 25,873 | $ | 29,475 | (12.2 | %) | ||||||
Gross Profit | 14,880 | 16,737 | (11.1 | %) | ||||||||
Operating Income | 8,009 | 8,961 | (10.6 | %) | ||||||||
Income Before Tax | 9,870 | 11,004 | (10.3 | %) | ||||||||
Net Income (US GAAP) | 8,077 | 8,720 | ( 7.4 | %) | ||||||||
EPS (US GAAP) | $ | 2.537 | $ | 2.680 | ( 5.3 | %) | ||||||
Shares Outstanding (diluted) | 3,183 | 3,254 | ||||||||||
BALANCE SHEET
(in thousands) | (unaudited) SEP 30, 2026 | (unaudited) JUN 30, 2026 | (audited) DEC 31, 2025 | (unaudited) SEP 30, 2025 | ||||||||||||
Assets | ||||||||||||||||
Cash & Investments | $ | 85,202 | $ | 87,528 | $ | 85,756 | $ | 84,267 | ||||||||
Accounts & Other Receivables, Net | 3,961 | 3,565 | 3,522 | 3,725 | ||||||||||||
Inventories | 10,571 | 9,003 | 7,935 | 8,118 | ||||||||||||
Other Current Assets | 898 | 543 | 529 | 422 | ||||||||||||
Total Current Assets | 100,632 | 100,639 | 97,742 | 96,532 | ||||||||||||
Property & Equipment, Net | 10,024 | 9,631 | 9,908 | 10,000 | ||||||||||||
Intangible Assets, Net | 17,845 | 14,302 | 14,892 | 15,443 | ||||||||||||
Total Assets | $ | 128,501 | $ | 124,572 | $ | 122,542 | $ | 121,975 | ||||||||
Liabilities & Stockholders' Equity | ||||||||||||||||
Accounts Payable | $ | 1,683 | $ | 876 | $ | 911 | $ | 768 | ||||||||
Other Accrued Liabilities | 3,057 | 1,194 | 1,687 | 2,243 | ||||||||||||
Total Current Liabilities | $ | 4,740 | $ | 2,070 | $ | 2,598 | $ | 3,011 | ||||||||
Deferred Tax Liability - Intangible Assets | - | - | 114 | 248 | ||||||||||||
Long Term Lease Liability | 180 | 195 | 225 | 241 | ||||||||||||
Deferred Revenue and Income Taxes | 303 | 274 | 337 | 223 | ||||||||||||
Stockholders' Equity | 123,278 | 122,033 | 119,268 | 118,252 | ||||||||||||
Total Liabilities & Stockholders' Equity | $ | 128,501 | $ | 124,572 | $ | 122,542 | $ | 121,975 | ||||||||
SOURCE: Utah Medical Products, Inc.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did UTMD perform in the third quarter of 2026?
UTMD reported $8.621 million in revenue, down 12.1% from the third quarter of 2025, while net income rose 6% and earnings per share increased 7%. Operating margin improved to 32.4% from 26.6%, helped by lower combined litigation and intangible-asset amortization expenses.
What is UTMD's full-year 2026 sales outlook?
UTMD projects a full-year consolidated sales decline close to 7%, with continued uncertainty. The company expects fourth-quarter replacement sales to exceed sales to its two former customers in the comparable quarters of both 2025 and 2024.
Why did UTMD's third-quarter 2026 gross margin decline?
Gross margin fell because lower shipments were not matched by proportional reductions in manufacturing labor and overhead costs. UTMD retained staffing to support anticipated growth in biopharma control-device manufacturing. Lower intercompany Filshie sales also contributed to the decline to 56.1% from 57.1%.