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!

United-Guardian Reports Record Earnings

HAUPPAUGE, N.Y., Aug. 8, 2013 (GLOBE NEWSWIRE) -- United-Guardian, Inc. (Nasdaq:UG) reported today that net income for the second quarter of 2013 was up 12% over last year's second quarter, with earnings per share increasing from $0.26 to $0.29, resulting in the strongest second quarter in the company's history. For the first half of the year, earnings were up 20% and earnings per share increased from $0.53 to $0.63, once again reaching a new record high for the company.

Ken Globus, President of United-Guardian, stated, "We are very pleased that we have been able to continue to increase our earnings despite the fact that there was no revenue from Renacidin ® Irrigation, one of our pharmaceutical products. Renacidin has been out of stock for the past year due to manufacturing problems experienced by our supplier. While this has resulted in slightly lower sales this year, increased revenue from our personal care and medical products has more than made up for that lost income, with personal care product sales up over 9% for the quarter and 12% for the year, and medical product sales up almost 14% for the quarter and 22% for the year. Although we continue to be hopeful that Renacidin sales will resume by the end of the year, we are also continuing our development work on a new single-dose form of Renacidin that will be produced by a different supplier. We believe that this new form of Renacidin, along with our ongoing efforts to develop new and innovative personal care products, will enable us to continue to increase our revenues over the coming years."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.   

NOTE:   This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause our actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission. 

RESULTS FOR THE THREE AND SIX MONTHS ENDED
JUNE 30, 2013 and JUNE 30, 2012
(UNAUDITED)
 
  THREE MONTHS ENDED JUNE 30,  SIX MONTHS ENDED  JUNE 30,
   2013  2012 2013 2012
         
Net sales $ 3,628,571 $ 3,735,100 $ 7,580,732 $ 7,623,792
         
Costs and expenses 1,999,186 2,013,373 3,971,910 4,156,076
         
Income from operations 1,629,385 1,721,727 3,608,822 3,467,716
         
Other income  357,755  41,757  704,767  114,098
         
Income before income taxes 1,987,140 1,763,484 4,313,589 3,581,814
         
Provision for income taxes  644,600  570,400 1,406,400 1,160,100
         
Net Income $ 1,342,540 $ 1,193,084 $ 2,907,189 $ 2,421,714
         
Earnings per common share  (Basic and Diluted)    $ 0.29    $ 0.26  $ 0.63  $ 0.53
         
Weighted average shares – basic and diluted 4,596,439 4,596,439 4,596,439 4,596,439

••• Additional financial information can be found at the company's web site at www.u-g.com . •••  

CONTACT: Robert S. Rubinger
         Public Relations
         (631) 273-0900

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • 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