UTMD Reports Financial Performance for Second Calendar Quarter and First Half 2022
July 28, 2022
Salt Lake City, Utah – UTMD achieved second calendar quarter (2Q) and first half (1H) 2022 financial results better than those anticipated in its beginning of year projections.
Currencies in this release are denoted as $ or USD = U.S. Dollars; AUD = Australia Dollars; £ or GBP = UK Pound Sterling; C$ or CAD = Canadian Dollars; and € or EUR = Euros. Currency amounts throughout this report are in thousands, except per share amounts and where noted. Because of the relatively short span of time, results for any given three-month period in comparison with a previous three-month period may not be indicative of comparative results for the year as a whole.
Overview of Results
In brief, UTMD was able to adjust to the challenges of rapidly rising variable costs in the 1H of 2022. The following is an income statement summary comparison of 2Q and 1H 2022 with 2Q and 1H 2021 according to U.S. Generally Accepted Accounting Principles (US GAAP):
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|
2Q
(April – June)
|
1H
(January – June)
|
|
|
Revenues (Sales): |
+7% |
+9% |
|
| |
Gross Profit (GP): |
+5% |
+6% |
|
| |
Operating Income (OI): |
+6% |
+11% |
|
| |
Income Before Tax (EBT): |
+8% |
+12% |
|
| |
Net Income (NI): |
+20% |
+18% |
|
|
Earnings Per Share (EPS): |
+20% |
+18% |
Contact:
Crystal Rios
(801) 566-1200
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