United-Guardian FY 2022 net income drops 45% to $2.57M; EPS $0.56 vs $1.01

UNITED GUARDIAN INC

Net sales fell 9% to $12.7M from $13.9M; cosmetic ingredient revenue declined, securities portfolio losses increased.
Net income $2,569,512 ($0.56 diluted EPS) vs $4,658,542 ($1.01) in prior year, a 45% decrease.
Downside blamed on contract manufacturer overstocking in 2021 and China's zero-COVID policy reducing Asian demand.
Pharmaceutical and medical lubricants business remained strong in 2022; company focused on hydrogel innovation.
No forward guidance or dividend changes announced in the release.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED GUARDIAN INC reported FY 2022 results: revenue $12,698,503, net income $2,569,512 ($0.56 per share), EPS $0.56 per share.

Period: FY 2022
Revenue: $12,698,503
Net income: $2,569,512 ($0.56 per share)
EPS: $0.56 per share
Result: reported results

Exact text from the filing

Net sales for the year decreased by 9% from $13,929,629 in 2021 to $12,698,503 in 2022, generating net income of $2,569,512 ($0.56 per share) in 2022 compared to $4,658,542 ($1.01 per share) in 2021.

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Source: SEC EDGAR

accession 0001171843-23-001744

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