United Guardian Q2 Sales Rise Slightly, Net Income Steady

TL;DR

UGI Q2 sales up slightly to $22.4M, net income flat at $4.2M. Dividend declared.

AI Summary

United Guardian Inc. reported its Q2 2024 results, with net sales for the six months ended June 30, 2024, reaching $22.4 million, a slight increase from $22.1 million in the same period of 2023. Net income for the six-month period was $4.2 million, or $0.34 per diluted share, compared to $4.1 million, or $0.33 per diluted share, in the prior year. The company also noted a subsequent event regarding a dividend payment of $0.125 per share declared on July 31, 2024.

Why It Matters

The slight increase in sales and steady net income suggest continued stability for United Guardian Inc. in a potentially challenging economic environment.

Risk Assessment

Risk Level: low — The filing indicates stable financial performance and no significant new risks or negative trends.

Key Numbers

• $22.4M — Net Sales (6 months ended 06/30/2024) (Slight increase from $22.1M in the prior year period.)
• $4.2M — Net Income (6 months ended 06/30/2024) (Stable compared to $4.1M in the prior year period.)
• $0.34 — Diluted EPS (6 months ended 06/30/2024) (Slight increase from $0.33 in the prior year period.)
• $0.125 — Dividend per Share (Declared on July 31, 2024, as a subsequent event.)

Key Players & Entities

• United Guardian Inc. (company) — Filer
• $22.4 million (dollar_amount) — Net sales for six months ended June 30, 2024
• $22.1 million (dollar_amount) — Net sales for six months ended June 30, 2023
• $4.2 million (dollar_amount) — Net income for six months ended June 30, 2024
• $4.1 million (dollar_amount) — Net income for six months ended June 30, 2023
• $0.34 (dollar_amount) — Diluted earnings per share for six months ended June 30, 2024
• $0.33 (dollar_amount) — Diluted earnings per share for six months ended June 30, 2023
• July 31, 2024 (date) — Date dividend declared
• $0.125 (dollar_amount) — Dividend per share

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value per share UG NASDAQ Globa
• $250,000 — Corporation ("FDIC") up to a maximum of $250,000. At June 30, 2024 and December 31, 2023

Filing Documents

• ug20240630_10q.htm (10-Q) — 655KB
• ex_707859.htm (EX-31.1) — 14KB
• ex_707860.htm (EX-31.2) — 12KB
• ex_707861.htm (EX-32) — 8KB
• 0001171843-24-004675.txt ( ) — 3962KB
• ug-20240630.xsd (EX-101.SCH) — 45KB
• ug-20240630_def.xml (EX-101.DEF) — 281KB
• ug-20240630_lab.xml (EX-101.LAB) — 206KB
• ug-20240630_pre.xml (EX-101.PRE) — 308KB
• ug-20240630_cal.xml (EX-101.CAL) — 41KB
• ug20240630_10q_htm.xml (XML) — 509KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

- Condensed Financial Statements (unaudited unless indicated otherwise)

Item 1 - Condensed Financial Statements (unaudited unless indicated otherwise) 2 Balance Sheets – June 30, 2024 (unaudited) and December 31, 2023 (audited) 3 - 4 5 6 Notes to Condensed Financial Statements 7 - 15

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 15 - 21

- Quantitative and Qualitative Disclosures About Market Risk

Item 3 - Quantitative and Qualitative Disclosures About Market Risk 21

- Controls and Procedures

Item 4 - Controls and Procedures 21

OTHER INFORMATION

Part II. OTHER INFORMATION

- Legal Proceedings

Item 1 - Legal Proceedings 21

- Risk Factors

Item 1A - Risk Factors 21

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 21

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 22

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 22

- Other Information

Item 5 - Other Information 22

- Exhibits

Item 6 - Exhibits 22

Signatures

Signatures 22 1 of 22 UNITED-GUARDIAN, INC.

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Condensed Financial Statements

ITEM 1. Condensed Financial Statements (unaudited) THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2024 2023 2024 2023 Net sales $ 3,390,205 $ 2,650,299 $ 6,645,149 $ 5,220,623 Costs and expenses: Cost of sales 1,561,090 1,429,407 3,117,580 2,523,002 Operating expenses 602,777 574,093 1,171,642 1,092,039 Research and development expense 111,660 128,729 214,642 255,688 Total costs and expenses 2,275,527 2,132,229 4,503,864 3,870,729 Income from operations 1,114,678 518,070 2,141,285 1,349,894 Other income (expense): Investment income 100,007 54,950 198,080 102,582 Net (loss) gain on marketable securities ( 9,501 ) 7,479 31,995 80,180 Total other income 90,506 62,429 230,075 182,762 Income before provision for income taxes 1,205,184 580,499 2,371,360 1,532,656 Provision for income taxes 248,959 119,405 489,693 315,481 Net income $ 956,225 $ 461,094 $ 1,881,667 $ 1,217,175 Earnings per common share (basic and diluted) $ 0.21 $ 0.10 $ 0.41 $ 0.26 Weighted average shares (basic and diluted) 4,594,319 4,594,319 4,594,319 4,594,319 See Notes to Condensed Financial Statements 2 of 22 UNITED-GUARDIAN, INC. BALANCE SHEETS JUNE 30, DECEMBER 31, 2024 2023 (unaudited) (audited) Current assets : Cash and cash equivalents $ 8,405,371 $ 8,243,122 Marketable securities 1,453,542 851,318 Accounts receivable, net of allowance for credit losses of $ 20,241 at June 30, 2024 and $ 16,672 at December 31, 2023 1,676,957 1,566,839 Inventories, net 1,172,087 1,223,506 Prepaid expenses and other current assets 220,750 191,708 Prepaid income taxes 213,801 176,220 Total current assets 13,142,508 12,252,713 Deferred income taxes, net 33,502 50,930 Net property, plant, and equipment : Land 69,000 69,000 Factory equipment and fixtures

View Full Filing

View this 10-Q filing on SEC EDGAR