This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Utah Medical Products, Inc. Reports Financial Performance For Third Quarter 2010

SALT LAKE CITY, Oct. 21, 2010 (GLOBE NEWSWIRE) -- Utah Medical Products, Inc. (Nasdaq:UTMD) reports lower sales, improved profit margins and a stronger ending balance sheet for the third calendar quarter (3Q) 2010 compared to 3Q 2009.

Despite lower total sales for the third quarter, domestic sales have improved in 2010 on a quarterly basis:  

(in thousand $) 1Q 2010 (JAN – MAR) 2Q 2010 (APR – JUN) 3Q 2010 (JUL – SEP)
Domestic Direct: 4,040 4,035 4,094
Domestic OEM:  335  359  361
Domestic Total: 4,375 4,394 4,455

Continued lower U.S. hospital utilization rates of medical devices and unit price reductions have resulted in three quarters year-to-date, or nine months (9M) of 2010, domestic sales that were 5% lower than in 9M 2009.

International sales in 2010, on the other hand, have declined on a quarterly basis:

(in thousand $) 1Q 2010 (JAN – MAR) 2Q 2010 (APR – JUN) 3Q 2010 (JUL – SEP)
International: 2,060 1,882 1,745

However, 9M 2010 international sales were 5% higher than in 9M 2009. International sales fluctuate because UTMD sells through third party distributors which purchase several months' of supply at a time to minimize costs. UTMD expects that 4Q 2010 international sales will recover closer to 1Q 2010. 

Profit margins in 3Q 2010 improved compared to 3Q 2009:

    3Q 2010 (JUL – SEP) 3Q 2009 (JUL – SEP)
Gross Profit Margin (gross profits/ sales): 53.8% 52.4%
Operating Profit Margin (operating profits/ sales): 36.4% 35.7%
Net Profit Margin (profit after taxes/ sales): 24.4% 24.2%

Although the unit prices of devices sold declined, UTMD achieved a higher 3Q 2010 gross profit margin (GPM) due to three factors: 1) a more favorable distribution mix as international sales at lower prices were a smaller portion of total sales, 2) lower manufacturing overhead costs as a result of the completion of consolidating Oregon molding operations into Utah in 2Q 2010, and 3) reallocation of shipping costs previously included in cost of goods sold to operating expenses (sales and marketing expense).

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs