United-Guardian Q2 sales drop 27% YoY; net income falls to $0.10 per share

UNITED GUARDIAN INC

Q2 2023 sales $2.65M vs $3.63M in Q2 2022; net income $461K ($0.10/sh) vs $633K ($0.14/sh).
Six-month 2023 sales $5.22M vs $7.52M in prior year; net income $1.22M ($0.26/sh) vs $1.54M ($0.34/sh).
Decline driven by lower cosmetic ingredient sales (Lubrajel) in China due to competition and slow post-COVID recovery.
Pharmaceutical product Renacidin sales increased 7%, partially offsetting cosmetic decline.
Management evaluating strategies to boost sales in China and other markets.

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 the second quarter and first half of 2023 results: revenue $2,650,299, net income $461,094 ($0.10 per share), EPS $0.10 per share.

Period: the second quarter and first half of 2023
Revenue: $2,650,299
Net income: $461,094 ($0.10 per share)
EPS: $0.10 per share
Result: reported results

Exact text from the filing

in 2022 to $5,220,623 in 2023. Net income decreased from $1,544,789 ($0.34 per share) to $1,217,175 ($0.26 per share). Second quarter sales decreased from $3,626,177 to $2,650,299, with net income decreasing from $633,324 ($0.14 per share) to $461,094 ($0.10 per share). Donna Vigilante, President of United-Guardian, stated, “The sales decrease for both the

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Source: SEC EDGAR

accession 0001171843-23-005250

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