United-Guardian Q3 net income drops 66% to $345K; sales down 24% YoY

UNITED GUARDIAN INC

Q3 2022 net income $345,518 ($0.07/sh) vs $1,016,506 ($0.22/sh) in Q3 2021.
Q3 net sales fell 24% to $2,417,022 from $3,179,746 a year earlier.
Nine-month net income $1,890,307 ($0.41/sh) vs $3,542,232 ($0.77/sh); sales $9,935,557 vs $10,268,592.
CEO Beatriz Blanco cited COVID lockdowns in China and overstocking after a customer switched Lubrajel formulations.
New President and CEO Beatriz Blanco assumed role; management remains optimistic for 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

UNITED GUARDIAN INC reported nine-month period ended September 30, 2022 results: revenue $9,935,557, net income $1,890,307 ($0.41 per share), EPS $0.41 per share.

Period: nine-month period ended September 30, 2022
Revenue: $9,935,557
Net income: $1,890,307 ($0.41 per share)
EPS: $0.41 per share
Result: reported results

Exact text from the filing

For the nine-month period ended September 30 th net income decreased from $3,542,232 ($0.77 per share) in 2021 to $1,890,307 ($0.41 per share) this year, and net sales decreased from $10,268,592 to $9,935,557.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

UNITED GUARDIAN INC reported third quarter of 2022 results: revenue $2,417,022, net income $345,518 ($0.07 per share), EPS $0.07 per share.

Period: third quarter of 2022
Revenue: $2,417,022
Net income: $345,518 ($0.07 per share)
EPS: $0.07 per share
Result: reported results

Exact text from the filing

United-Guardian, Inc. (NASDAQ:UG) reported today that net income for the third quarter of 2022 decreased from $1,016,506 ($0.22 per share) in 2021 to $345,518 ($0.07 per share) in this year’s third quarter. Net sales for the quarter decreased from $3,179,746 to $2,417,022.

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Source: SEC EDGAR

accession 0001171843-22-007268

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