United-Guardian FY 2023 net income flat at $2.58M; net sales down 14% to $10.89M

UNITED GUARDIAN INC

Net sales of $10.89M decreased 14% from $12.70M in 2022; net income $2.58M ($0.56 EPS) unchanged.
Cosmetic ingredients sales fell due to customer destocking and just-in-time ordering, led by largest distributor.
Renacidin supply disruption at end of 2023; production has now resumed through contract manufacturer.
Management sees brighter 2024 with Renacidin restocking, customer reordering, and distributor negotiations.
No guidance or dividend change mentioned in the release.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNITED GUARDIAN INC reported FY 2023 results: revenue $10,885,154, net income $2,581,370 ($0.56 per share).

Period: FY 2023
Revenue: $10,885,154
Net income: $2,581,370 ($0.56 per share)
Result: reported results

Exact text from the filing

Net sales for the year decreased by 14% from $12,698,503 in 2022 to $10,885,154 in 2023, generating net income of $2,581,370 ($0.56 per share) in 2023 compared to $2,569,512 ($0.56 per share) in 2022.

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Source: SEC EDGAR

accession 0001171843-24-001525

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