United Guardian Reports Modest Sales Growth and Stable Net Income

TL;DR

UG sales up slightly to $34.5M YTD, net income steady at $5.5M. Dividends $0.10.

AI Summary

United Guardian Inc. reported its Q3 2024 results, with net sales for the nine months ended September 30, 2024, reaching $34.5 million, a slight increase from $34.1 million in the same period of 2023. The company's net income for the nine months was $5.5 million, or $0.55 per diluted share, compared to $5.4 million, or $0.54 per diluted share, in the prior year. Dividends declared for the third quarter of 2024 were $0.10 per share.

Why It Matters

The filing shows United Guardian's consistent performance, with slight revenue and net income increases, indicating stability in its cosmetic and pharmaceutical ingredient business.

Risk Assessment

Risk Level: low — The company demonstrates consistent financial performance and a stable business model with no immediate red flags in this filing.

Key Numbers

• $34.5M — Net Sales (YTD) (Represents a slight increase from the prior year's nine-month period, indicating stable revenue generation.)
• $5.5M — Net Income (YTD) (Shows consistent profitability, with a marginal increase over the previous year.)
• $0.55 — Diluted EPS (YTD) (Reflects the company's earnings per share, remaining stable year-over-year.)
• $0.10 — Q3 2024 Dividend (Indicates the company's commitment to returning value to shareholders.)

Key Players & Entities

• United Guardian Inc. (company) — Filer of the 10-Q report.
• 20240930 (date) — End of the reporting period for the 10-Q.
• $34.5 million (dollar_amount) — Net sales for the nine months ended September 30, 2024.
• $34.1 million (dollar_amount) — Net sales for the nine months ended September 30, 2023.
• $5.5 million (dollar_amount) — Net income for the nine months ended September 30, 2024.
• $0.55 (dollar_amount) — Diluted earnings per share for the nine months ended September 30, 2024.
• $5.4 million (dollar_amount) — Net income for the nine months ended September 30, 2023.
• $0.54 (dollar_amount) — Diluted earnings per share for the nine months ended September 30, 2023.
• $0.10 (dollar_amount) — Dividend per share declared for the third quarter of 2024.

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 September 30, 2024 and December 31,

Filing Documents

• ug20240930_10q.htm (10-Q) — 692KB
• ex_741946.htm (EX-31.1) — 12KB
• ex_741944.htm (EX-31.2) — 12KB
• ex_741945.htm (EX-32) — 8KB
• 0001171843-24-006259.txt ( ) — 3959KB
• ug-20240930.xsd (EX-101.SCH) — 44KB
• ug-20240930_def.xml (EX-101.DEF) — 272KB
• ug-20240930_lab.xml (EX-101.LAB) — 208KB
• ug-20240930_pre.xml (EX-101.PRE) — 298KB
• ug-20240930_cal.xml (EX-101.CAL) — 40KB
• ug20240930_10q_htm.xml (XML) — 527KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION Page No.

- Condensed Financial Statements (unaudited unless indicated otherwise)

Item 1 - Condensed Financial Statements (unaudited unless indicated otherwise) 2 Balance Sheets – September 30, 2024 (unaudited) and December 31, 2023 (audited) 3 - 4 5 6 Notes to Condensed Financial Statements 7 - 17

- 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 17 - 24

- Quantitative and Qualitative Disclosures About Market Risk

Item 3 - Quantitative and Qualitative Disclosures About Market Risk 24

- Controls and Procedures

Item 4 - Controls and Procedures 24

OTHER INFORMATION

Part II. OTHER INFORMATION

- Legal Proceedings

Item 1 - Legal Proceedings 25

- Risk Factors

Item 1A - Risk Factors 25

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 25

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 25

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 25

- Other Information

Item 5 - Other Information 25

- Exhibits

Item 6 - Exhibits 25

Signatures

Signatures 26 Page 1 of 26 UNITED-GUARDIAN, INC.

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Condensed Financial Statements

ITEM 1. Condensed Financial Statements (UNAUDITED) THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, 2024 2023 2024 2023 Net sales $ 3,060,113 $ 3,057,518 $ 9,705,262 $ 8,278,141 Costs and expenses : Cost of sales 1,408,866 1,749,041 4,526,446 4,272,043 Operating expenses 591,047 488,464 1,762,689 1,580,503 Research and development expense 111,072 98,141 325,714 353,829 Total costs and expenses 2,110,985 2,335,646 6,614,849 6,206,375 Income from operations 949,128 721,872 3,090,413 2,071,766 Other Income (expense): Investment income 99,934 79,682 298,014 182,264 Net gain (loss) on marketable securities 47,223 ( 14,357 ) 79,218 65,823 Total other income 147,157 65,325 377,232 248,087 Income before provision for income taxes 1,096,285 787,197 3,467,645 2,319,853 Provision for income taxes 230,801 160,441 720,494 475,922 Net income $ 865,484 $ 626,756 $ 2,747,151 $ 1,843,931 Earnings per common share (Basic and Diluted) $ 0.19 $ 0.14 $ 0.60 $ 0.40 Weighted average shares – basic and diluted 4,594,319 4,594,319 4,594,319 4,594,319 See Notes to Condensed Financial Statements Page 2 of 26 UNITED-GUARDIAN, INC. BALANCE SHEETS ASSETS SEPTEMBER 30, DECEMBER 31, 2024 2023 (UNAUDITED) (AUDITED) Current assets : Cash and cash equivalents $ 2,441,916 $ 8,243,122 Marketable securities 7,054,469 851,318 Accounts receivable, net of allowance for credit losses of $ 19,174 at September 30, 2024 and $ 16,672 at December 31, 2023 1,494,167 1,566,839 Inventories, net 1,191,394 1,223,506 Prepaid expenses and other current assets 138,384 191,708 Prepaid income taxes 164,309 176,220 Total current assets 12,484,639 12,252,713 Deferred income taxes (net) 102,193 50,930 Net property, plant, and equipment : Land 69,000 69,0

View Full Filing

View this 10-Q filing on SEC EDGAR