United-Guardian reported increased sales and net income for the second quarter of 2024.

From GlobeNewswire: 2024-08-09 09:00:00

United-Guardian, Inc. (NASDAQ:UG) reported increased sales and net income for the second quarter and first half of 2024. Sales rose from $5,220,623 in 2023 to $6,645,149 in 2024 for the six-month period, with net income increasing from $1,217,175 to $1,881,667 for the same period.

President Donna Vigilante noted sales growth in cosmetic ingredients by 84% in the second quarter and 115% for the first six months of 2024. Medical lubricants sales also increased by 15% and 9%, while pharmaceutical product sales saw a 3% increase in the quarter but a 13% decrease in the first half due to production issues.

United-Guardian is a manufacturer of cosmetic ingredients, pharmaceuticals, medical lubricants, and sexual wellness ingredients. The company provided forward-looking statements about its financial performance, business prospects, and potential risks that may affect its operations.

Financial results for the three and six months ended June 30, 2024, showed a significant increase in sales and net income for United-Guardian. Operating income for the quarter was $1,114,678, up from $518,070 in 2023, with a net income of $956,225 compared to $461,094 in 2023. Earnings per share also rose to $0.21 for the quarter.



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