Quarterly ResultMay 12, 2026, 04:02 PM
Utah Medical Q1 Net Sales Down 10.2% to $8.72M; EPS Down 11.0%
AI Summary
Utah Medical Products reported a 10.2% decrease in Q1 2026 net sales to $8.72 million and an 11.0% decline in diluted EPS to $0.818 compared to Q1 2025. The sales decline was primarily due to the expected absence of sales to its former largest China distributor and OEM customer PendoTECH. Despite lower sales, the gross profit margin improved to 60.6%, though operating income was impacted by higher litigation and employee healthcare costs. The company maintained a strong balance sheet, increasing cash and investments by $4.08 million year-over-year, and continued share repurchases and dividend payments.
Key Highlights
- Net Sales decreased 10.2% to $8.72 million in Q1 2026 from $9.71 million in Q1 2025.
- Diluted EPS decreased 11.0% to $0.818 in Q1 2026 from $0.919 in Q1 2025.
- Net Income decreased 14.4% to $2.60 million in Q1 2026 from $3.04 million in Q1 2025.
- Gross Profit Margin improved to 60.6% in Q1 2026 from 57.0% in Q1 2025.
- Operating Income decreased 18.7% to $2.57 million due to higher litigation and healthcare costs.
- Q1 2026 sales to former China distributor and PendoTECH were zero, impacting sales by $857K.
- Cash and investments increased $4.08 million YoY to $87.41 million at March 31, 2026.
- Repurchased 2,196 shares for $129K and paid $0.31/share in dividends in Q1 2026.